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|EXPENDITURE ACCOU|N|T)|F|OR T|HE YEAR|ENDED 3|1 MARCH 2021|||
|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted|Total Funds|Total Funds|
||||||||Funds|2021|2020|
||||||||||6|
|||||||Notes||||
|INCOMEFROM|||||||||(All unrestricted)|
|Activities for raising funds||||||||||
|Subsidiaries<br>non-charitable|trading||turnover||||1,926,941|1,926,941|2,744,321|
|Otherincome|||||||117,359|117,359||
|Investment<br>income||||||||||
|Income from listed investments|||||||65,925|65,925|67,339|
|Income from bank interest|||||||||2,584|
|Total income|||||||2,110,225|2,110,225|2,814,244|
|EXPENDITURE ON||||||||||
|Costs ofraising funds||||||||||
|Subsidiaries<br>non-charitable|trading||expenditure||||2,168,737|2,168,737|2,959,864|
|Charitable<br>activities|||||||65,613|65,613|257,796|
|Other resources expended|||||||18,431|18,431|27,079|
|Total expenditure|||||||2,252 781|2 252 781|3244 739|
|Net income/(expenditure)<br>for the year||||before tax|||(142,556)|(142,556)|(430,495)|
|Tax on non-charitable<br>trading|subsidiaries'||||ordinary|||||
|activities|||||||28,973|28,973||
|Net expenditure<br>attributable||to the||group|before|||||
|other recognised<br>gains and losses|||||||(113,583)|(113,583)|(430,495)|
|Unrealised<br>gain on fixed asset||revaluation||||||||
|Unrealised<br>(loss)/gain<br>on investment||||assets||11|290 121|290,121|(184,305)|
|Net movement<br>In group funds|||||||176,538|176,538|(614,800)|
|Group funds brought<br>forward|||||||2,471 487|2471,487|3,086,287|
|Group funds carried forward|||||||2,648,025|2,648,025|2,471,487|





## 

|31 MARCH 2021||||||
|---|---|---|---|---|---|
||||Unrestricted|Total Funds|Total Funds|
||||Funds|2021|2020|
|||||8|6|
|||Notes||||
|FIXEDASSETS||||||
|Investments||11|2,739,804|2,739,804|2,565,147|
||||2,739,804|2,739,804|2,565,147|
|CURRENT ASSETS||||||
|Debtors||12|6,268|6,268|15,246|
|Cash at bank and in hand|||44 736|44,736|41,647|
||||51,004|51,004|56,893|
|CREDITORS: AMOUNTS|FALLING DUE WITHIN 0|13|(142,783|(142,783|(150,553)|
|NET CURRENT LIABILITIES|||91779)|91,779)|(93660)|
|NET ASSETS|||2,648,025|2,648,025|2,471,487|
|THE FUNDS OF THE CHARITY||||||
|Unrestricted<br>income funds||18|2,119,965|2,119,966|2,138,085|
|Revaluation<br>funds||18|528,059|528,059|333,402|
|TOTAL CHARITY FUNDS|||2,648,025|2,648,025|2,471,487|



## 



## 

## 

## 

## 

|31 INARCH 2021||||||
|---|---|---|---|---|---|
||||Unrestricted|Total Funds|Total Funds|
||||Funds|2021|2020|
||||f|f|f|
|||Notes||||
|FIXEDASSETS||||||
|Intangible<br>assets||9|20,215|20,215|37,730|
|Tangible assets||10|1,210,836|1,210,836|1,247,301|
|Investments||11|1 740 327|1 740,327|1 470 206|
||||2,971,378|2,971,378|2,755,237|
|CURRENT ASSETS||||||
|Stock|||21,896|21,896|22,488|
|Debtors||12|512,932|512,932|411,254|
|Cash at bank||23|146,307|146,307|46,343|
||||681,135|681,135|480,085|
|CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR|13|754,488)|754,488|(763,834)|
|NET CURRENT ASSETS|||73354|73353)|(283750|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||2,898,025|2,898,025|2,471,487|
|CREDITORS: AMOUNTS|FALLING DUE AFTER MORE THAN ONE|||||
|YEAR|||250,000|(250,000||
|PROVISIONS FOR LIABILITIES||||||
|NET ASSETS|||2,648,025|2,648,025|2,471,487|
|THE FUNDS OF THE GROUP||||||
|Unrestricted<br>income funds||18|2,129,295|2,129,295|2,237,196|
|Revaluation<br>funds||18|518,730|518,730|234,291|
|TOTAL GROUP FUNDS|||2,648,025|2,648,025|2,471,487|





## 

## 

## 

|||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||||8|8|
||||||||Notes|||
|CASH FLOWS FROM||OPERATING|ACTIVITIES||||22|(102,453)|(84,571)|
|CASH FLOWS FROM||INVESTING|ACTIVITIES|||||||
|Dividend|income|||||||65,925|67,339|
|Interest received|||||||||2,584|
|Proceeds|from the sale ofproperty,||plant and equipment|||||2,900||
|Purchase|ofproperty,|plant and equipment||||||(16,190)|(26,243)|
|Purchase|ofintangible|assets||||||(16,800)||
|Proceeds|from sale of|investments||||||20,000|115,000|
|Purchase|of investments||||||||(150,000)|
|NET CASH PROVIDED BY(USED|||IN) INVESTING||ACTIVITIES|||55,835|8,680|
|CASH FLOWS FROM||FINANCING|ACTIVITIES|||||||
|Capital element ofhire||purchase<br>repayments||||||(8,370)|(11,076)|
|Proceeds|ofnew bank|loans||||||250,000||
|NET CASH PROVIDED BY(USED|||IN) FINANCING||ACTIVITIES|||241,630|(11,076)|
|CHANGE|IN CASH AND CASH EQUIVALENTS|||IN|THE|REPORTING|PERIOD|195,012|(86,967)|
|Cash and|cash equivalents<br>at beginning<br>ofthe reporting|||||period|23|(48,705)|38,262|
|Cash and|cash equivalents<br>at end||ofthe reporting||period||23|146,307|(48,705)|





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## 

|||2021|2020|
|---|---|---|---|
|1|INVESTMENT INCOME||6|
||UK quoted Investments|65,925|67,339|
||Bank interest received||2,584|
|||65,925|69,923|



## 

||||2021|2020|
|---|---|---|---|---|
||||6|5|
|Grants paid in|the year||56,633|39,741|
|Add Closing Grant Creditor|||129,500|143,553|
|Less Opening|Grant Creditor||(143,553)|(47,475)|
|Net Grants|||42,580|135,819|
|Other resources expended|||18,431|27,079|
|Governance<br>Costs (See note 3)|||23,033|121,977|
||||84,044|284,875|
||||2021|2020|
||||6||
|Grants paid to|institutions||56,633|39,741|
|Grants paid to|individuals||||
||||56,633|39,741|
||||2021|2020|
|Grants<br>aid toinsiui||n|5|5|
|Simone Radway||||720|
|Cavies &Son||||8,000|
|UKFT|||27,250|21,250|
|Central Style||||1,255|
|Hirsch Tailoring||||2,500|
|Tailoring Academy|||17,933|4,166|
|John Smedley||||1,850|
|Caramel Rock|||5,000||
|Cockpit Arts|||4,000||
|Leicester Fashion &Textiles Academy|||800||
|Sapheda|||1,650||
||||56,633|39,741|





## 

## 

## 

|F|OR THE YEA|R EN|D|ED 31 MARCH 2021||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|3|GOVERNANCE COSTS|||||8|6|
||Legal and professional|||fees||15,965|117,977|
||Auditor's<br>remuneration|||||7,000|4,000|
||Bank charges|||||68||
|||||||23,033|121977|
|||||||2021|2020|
|4|OTHER RESOURCES|||EXPENDED||6|6|
||Grant administration||costs|||15,000|15,000|
||Network,<br>website &support costs|||||319||
||Establishment|expenses||||1,404|1,404|
||Travel 8 subsistence|||||351|6,716|
||Unrecoverable|VAT||||||
||Sundries|||||1,045|1,185|
||Advertising|||||312|2,774|
|||||||18,431|27,079|
|5|ANALYSIS OF|STAFF COSTS, TRUSTEE REMUNERATION|||AND EXPENSES,|AND THE COST OF KEY||
||MANAGEMENT|PERSONNEL||||||
|||||||2021|2020|
|||||||6|8|
||Salaries and wages|||||701,096|858,206|
||Social security|costs||||79,761|84,736|
||Pension costs|||||37,269|41,002|
|||||||818,128|983,944|



|||||||
|---|---|---|---|---|---|
|The number ofemployees|whose annual|remuneration|was F60,000or more were:|2021|2020|
|660,000 —570,000||||2|2|
|670,000 - F80,000||||||
|580,000 - 690,000||||||
|F90,000 - Bt00,000|||||1|
|||||3|3|





## 

## 

## 

||The average<br>number<br>ofstaff employed|The average<br>number<br>ofstaff employed|The average<br>number<br>ofstaff employed|by the group during|the financial year amounted|to:||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||Number ofadministrative|staff||||18|21|
||Number ofmanagement|staff||||9|10|
||Number oftraining staff|||||3|5|
|||||||30|36|
|||||||2021|2020|
|7|NET INCOME/(EXPENDITURE)||FOR THE YEAR||||6|
||This is stated after charging:|||||||
||Depreciation<br>ofowned<br>fixed assets|||||52,656|51,982|
||Depreciation<br>of intangible|assets||||34,316|30,582|
||Cost ofStock recognised|as an expense|||554,371||890,593|
||Profit on disposal offixed|assets||||(2,900)||
||Auditors'<br>remuneration|||||||
||-audit services|||||7,000|9,950|
||-services to associated pension||schemes|||||
||-non audited services|||||8,105|3,550|



## 

## 

|Group|Other|
|---|---|
||Intangibles|
|Cost or valuation||
|Balance brought<br>forward|91,747|
|Additions|16,800|
|At 31 March 2021|188,5|
|Amortisation<br>and impairment||
|Balance brought<br>forward|54,017|
|Charge for the year|34,315|
|At 31 March 2021|88,332|
|Net book value||
|At 31 March 2021|20,215|
|At 31 March 2020|33|





## 

## 

|Group|||||||Freehold|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||land S|Fixtures 8||||Motor||||
||||||||buildings<br>E||Fittings<br>6||Vehicles<br>f|||Total<br>6||
|Cost or valuation||||||||||||||||
|Balance brought||forward|||||1,255,592|||297,274||192,542|||1,745,408|
|Additions||||||||||16,190|||||16,190|
|Disposals||||||||||||(14,286)|||14286|
|At 31 March 2021|||||||1,255,592|||313,464||178,256|||1,747,312|
|Depreciation||||||||||||||||
|Balance brought|forward||||||96,600|||271,739||129,767|||498,107|
|Charge for the year|||||||20,700|||16,450|||15,505||52,655|
|Disposals|||||||||||||14,286||(14286)|
|At 31 March 2021|||||||117,300|||288,189||130,986|||536,476|
|Net book value||||||||||||||||
|At 31 March 2021|||||||1,138,292|||25,274|||47,270||1,210,836|
|At 31 March 2020|||||||1,158,992|||25,535|||62,775||1,247,301|
|The charity does||not hold|any|tangible||fixed assets in the current or|||previous<br>period.|||||||
|Included<br>in the cost offreehold||||land|and buildings<br>is freehold|||land of||F215,000(2020-F215,000)which||||||
|is not depreciated,||||||||||||||||
|Barclays Security||Trustee|Limited holds a fixed and floating charge||||||over the assets||||in CapitB Limited and a firs|||
|and floating charge over the freehold|||||property||of RTITB Ltd in|respect ofthe current|||||credit facility|of|5500,000.|
|The ITBPension||Fund holds a||second||fixed and floating charge over||||the freehold|property of RTITB Ltd in|||||
|respect ofthe Section 75|||contingent||liability.||Details ofthe liability are disclosed||||in|note 16.||||
|In respect ofassets stated|||at valuations,|||the|comparable<br>historical cost and depreciation<br>values are||||||||as|
||||||||GROUP||||||CHARITY|||
||||||||2021||2020|||2021||2020||
||||||||E|||6|||E||6|
|Net book value at||end ofyear|||||1,138,292||1,158,992|||||||
|Historical cost|||||||903,406|||903,406||||||
|Historical cost depreciation||||||||||||||||
|At 1 Apdil 2020|||||||276,186|||262,161||||||
|Charge for year|||||||14,025|||14,025||||||
|At 31 March 2021|||||||290,211|||276,186||||||
|Net historical cost||value:||||||||||||||
|At 31 March 2021|||||||613,195|||627,220||||||
|At 1 April 2020|||||||627,220|||641,245||||||





## 

## 

## 

## 

|||||UK quoted|UK|Total|
|---|---|---|---|---|---|---|
|||||investments|portfolio|5|
|||||6|cash||
||||||6||
|Group|||||||
|Valuation|at 1 April 2020|||1,470,206||1,470,206|
|Additions|||||||
|Disposals||||(20,000)||(20,000)|
|Net investment||gain/(loss)||290,121||290,121|
|Valuation|at 31 March 2021|||1,740,327||1,740,327|
||||UK|UK quoted|UK|Total|
||||subsidiary|investments|porffolio||
||||undertakings|6|cash||
||||E||6||
|Charity|||||||
|Valuation|at 1 April 2020||1,094,941|1,470,206||2,565,147|
|Additions|||||||
|Disposals||||(20,000)||(20,000)|
|Net investment||gain/(loss)|(95,464)|290,121||194,657|
|Valuation|at 31 March 2021||999,477|1,740,327||2,739,804|



## 

|||||||
|---|---|---|---|---|---|
|Name ofcompany|Company|No.|Registered|Class of|'/o Held|
||||office|shares held||
|CAPITB Limited|02476398||UK|Ordinary|100 '/0|
|RTITB Limited|03671395||UK|Ordinary|100 '/o|





## 

## 

## 

||||2021|2020|
|---|---|---|---|---|
|CAPITB Limited|||||
||||K||
|Summary<br>profit and loss account|||||
|Turnover|||1,866,986|2,606,867|
|Cost ofsales|||(837,849)|(1,293,536)|
|Gross profit|||1,029,137|1,313,331|
|Administrative<br>expenses|||(1,228,639)|(1,322,432)|
|Other operating<br>income|||109,258|675|
|Operating<br>(loss)/profit|||(90,244)|(8,426)|
|Interest payable|||||
|(Loss)/profit<br>before taxation|||(90,244)|(8,426)|
|Taxation|||28,973||
|Retained<br>(loss)/profit|||61,271|8,426|
|Aggregate<br>amount ofcapital and|reserves||785,610|846,881|
||||2021|2020|
|RTITBLimited|||8|8|
|Summary<br>profit and loss account|||||
|Turnover|||||
|Cost ofsales|||20,700)|(20,700)|
|Gross profit|||(20,700)|(20,700)|
|Administrative<br>expenses|||(8,595)|(8,588)|
|Other operating<br>income|||8,101||
|Operating<br>(loss)/profit|||(21,194)|(29,288)|
|Interest payable|||||
|Loss before taxation|||(21,194)|(29,288)|
|Taxation|||||
|Retained loss|||(21,194)|(29,288)|
|Unrealised<br>surplus<br>on revaluation|oftangible|fixed assets|||
|Total recognised<br>gains and losses relating to||the year|(21,194)|(29,288)|
|Aggregate<br>amount ofcapital and reserves|||702,900|724,094|





## 

## 

|Talent in Logistics|Ltd|||2021|2020|
|---|---|---|---|---|---|
|Summary<br>profit and|loss account|||||
|Turnover||||59,952|136,779|
|Cost ofsales||||(20,643)|(126,230)|
|Gross profit||||39,309|10,549|
|Administrative<br>expenses||||(52,308)|(188,378)|
|Operating<br>(loss)/profit||||(12,999)|(177,829)|
|Interest payable||||||
|Loss before taxation||||(12,999)|(177,829)|
|Taxation||||||
|Retained loss||||(12,999)|(177,829)|
|Unrealised<br>surplus|on revaluation|oftangible|fixed assets|||
|Total recognised<br>gains and losses relating to|||the year|(12,999)|(177,829)|
|Aggregate<br>amount ofcapital and reserves||||(489,033)|(476,034)|





## 

## 

## 

|DEBTORS||||||||
|---|---|---|---|---|---|---|---|
|||||GROUP||CHARITY||
|||||2021|2020|2021|2020|
|||||6|8|||
|Trade debtors||||414,350|366,864|||
|Corporation<br>tax recoverable||||28,973||||
|Amounts<br>owed by group||undertakings||||6,268|15,246|
|Other debtors||||69,609|44,390|||
|Deferred tax||||||||
|||||512,932|411,254|6,268|15,246|
|CREDITORS: Amounts||falling|due within one|year||||
|||||GROUP||CHARITY||
|||||2021|2020|2021|2020|
|||||f|8|||
|Bank loans and overdraft|||||95,048|||
|Trade creditors||||132,543|224,238|||
|Obligations<br>under hire|purchase||agreements||8,370|||
|Amounts<br>owed to group||undertakings||||||
|Other taxation and social||security|costs|185,973|119,451|||
|Accruals<br>and deferred|income|||300,148|173,174|7,000|7,000|
|Other creditors||||135,824|143,553|135,783|143,553|
|||||754,488|763,834|142,783|150,553|
|The following<br>liabilities|disclosed||under creditors|falling due within one year are|secured:|||
|||||GROUP||CHARITY||
|||||2021|2020|2021|2020|
|||||5|8||8|
|Bank loans and overdraft|||||95,048|||
|Obligations<br>under hire|purchase||agreements||8,370|||
||||||103,418|||



|||||||GROUP|CHARITY|
|---|---|---|---|---|---|---|---|
|||||||8|8|
|Balance|as at 1 April 2020|||||30,107||
|Amount|released|to subsidiaries|non-charitable|trading|turnover|(30,I07)||
|Amount|deferred|in the the year||||231,089||
|Balance|as at 31|March 2021||||231,089||





## 

## 

## 


## 

## 

|Normal rate of return||5 99'/o|
|---|---|---|
|Rate ofprice inflation||3.40'/o|
|Rate ofgeneral<br>(inflationary)|salary growth|4.95'/o|
|Real rate of return<br>in excess|ofRPI|2.50'/o|
|Real rate of return<br>in excess|ofsalaries|0.99'/o|





## 

## 

## 

||||||||General|Non|Revaluation|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Funds|Charitable|Funds|Funds|
||||||||f|Trading|6|6|
|||||||||Funds|||
|||||||||6|||
|Group|||||||||||
|Tangible<br>fixed assets||||||||712,321|518,730|1,231,051|
|Investment|fixed assets||||||1,740,327|||1,740,327|
|Net current|(liabilities)/assets||||||(91,779)|18,426||(73,353)|
|Long term|liabilities||||||(250,000)|||(250,000)|
|Provisions|||||||||||
|Total unrestricted||funds|||||1,398,548|730,747|518,730|2,648,025|
||||||||||General|Total|
||||||||||Funds|Funds|
||||||||||6|6|
|Charity|||||||||||
|Investment|fixed assets||||||||2,739,804|2,739,804|
|Net current|assets||||||||(91,779)|91,779|
|Total unrestricted||funds|||||||2,648,025|2,648,025|
|FUNDS|||||||||||
|UNRESTRICTED||FUNDS|||||||||
||||At|1 April||Incoming|Outgoing|(Loss)/Gain|Transfer|At 31 March|
|||||2020<br>6||Resources<br>f|Resources<br>E|nit<br>Investments|between<br>funds|2021|
|GROUP|||||||||||
|General funds|||2,237,||196|2,110,225|(2,223,808)||5,682|2,129,295|
|Revaluation|funds||234,291|||||290,121|5,682|518,730|
||||2,471,487|||2,110,225|(2,223,808)|290,121||2,648,025|
|CHARITY|||||||||||
|General<br>funds|||2,138,085|||65,925|(84,044)|||2,119,966|
|Revaluation|funds||333,402|||||194,657||528,059|
||||2,471,487|||65,925|(84,044)|194,657||2,648,025|



## 



## 

## 

## 

## 



## 

## 

||||||2021|2020|
|---|---|---|---|---|---|---|
|||||||K|
||Consolidated<br>statement||offinancial|activities:|||
||Net movement<br>in group funds||||176,538|(614,800)|
||Add back depreciation||charge||86,970|82,564|
||Investment<br>Income||||(65,925)|(67,339)|
||Interest receivable|||||(2,584)|
||Taxation credited||||(28,973)||
||Unrealised<br>loss/(gain)||on investments||(290,121)|184,305|
||Unrealised<br>gain on fixed assets||||||
||Profit on disposal oftangible<br>fixed assets||||(2,900)||
||Decrease/(increase)|in|stock||592|(3,445)|
||Decrease/(increase)|in|debtors||(72,705)|234,658|
||(Decrease)/increase|in|creditors||94,071|102,070|
||Net Cash used<br>in operating<br>activities||||(102,453)|(84,571)|
|23|ANALYSIS OF CASH||AND CASH EQUIVALENTS||2021|2020|
||Cash in hand and at bank||||146,307|46,343|
||Bank overdraft|||||(95,048)|
||Bank Loan||||(250,000)||
||||||(103,693)|(48,705)|



##