PQB PUBLISHING QUALIFICATIONS BOARD Company Registration No. 2607034 Charity Registration No. 1002928 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
Publishing Qualifications Board Company Infornlation Ch*lr Elisabeth Tribe Vlco Chalr A8tr1d De Rldder Dlr•ctor•rrru$ts•$ Elisabeth Tribe Astrid De Ridder Claire Sanderson Jonathan Glasspool Edward Milford Emma Brown S•¢r•tary Ben Sang••l•• Company Numb•r 2607034 (England and R•glstorod Charfty Number 1002928 Rgglstor•d Offico 6 Bel Yard London WC24 2JR Audltorn Clarke Huttun Summit Court Bamel London ENS SYR Bankorn NatSonal WoslmSnst¢r Bank 153 Putnay High Stro01 London SW15 1FiX
Publishing Qualifications Board Contents Page Trustees, report statement of Trustees, responsibilities Independent Auditors, report 74 stalernent of financial activities Balance Sheet 10 Statement of cash flows Notes lo the financial Statements 12-17
Publishing Qualifications Board Trustees, Report For the year ended 31 December 2021 The Trustees, who are also the Directors, submit their annual Dirnclor8' Report together with the financial statements of the Charity for the year ending 31 De¢ember 2021, which are also prepared to meet the requirements kjr a Directors, Roport and accounts for Companies A¢1 purposes. The financial statements have been prepared in accordance with the accounting Policies set out in notes to the a¢counls and comply wlh the Charity's Articles of Association, the Companies Act 2006, the Charities Act 2011 and Accounting and Reporting by Charilies.- Statement of Recommended Praelice applicable to charities preparing their accounts in accordan with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS102} (effective 1 January 20151. Structuro, governan¢o and management The Publishing Qualifications Board is a company limited by guarantee. It is a Registered Charity whose objecls are the promotion and furtherance of commercial education in th• fie5d of book publishing, writing and the information industries. The Publishing Training Centre Foundation, a company limlt811 by guarantee (Company No. 1253854) and also a Registered Charity {Registered Charfty No. 1083081), is the solo member of the Publishing QualifKalions Board. The Trusleos, who ale also the Dlrector8 for the purpose of company law, and who served durlng year, were.. Elisabelh Tribe Astrid De Ridder Claire Sanderson Jonathan Glasspool Edward Milford Emma Brown Owen Meredith (resigned May 20211 Robiri Hunt (resigned May 20211 None tsf the Trustees have any beneficial interest in the company. The members undertake to contribute a maxirnum of £1 in the event of a winding up. New Trustees are given full infomation on the history of the Chartty, Articles of A$Sl8110n, the business plan and recent financial perfomiance of the Charity. Under Ihe Affj'cles tsf Association of the Board, the Publishing Training Centre Foundation, which is also a Registed Charity (Charity no.. 10830811, is the sole member of the Charity. Membership of the Charity is not transferable The number of Trustees shall no 4ess than five and no more than tre1ve. The board normally meets quarterly. Trustèès are elected by the members or co-opted by the Trustees. Vvhen considering co-opting Trustees, the Board has regard to the requirement for any specialist skill$ needed. A Trustee temi of office is five years. A retiring Trustee may be reappointed providing that no Trustee shall serve more than two terms of offico.
Publishing Qualifications Board Trustees. Report (Contlnued) For the year ended 31 December 2021 The powers of the Trustees lo invest monies of the Board are clearly laid out in the Articles of Association. The Trustees consistently review the principal risks and uneertainlies that the Charity faces and implements agreed procedure$ lo minimise or manage any potèntial impact on the group should those risks malerialise. There y¥ere no connected Charities other than The Publishing Training Centre Foundation. Ob Èctives and A¢tivities The Publishing Qualifications Board IPQBI was established to further the education of persons employed in or wishing lo pursue a career in the publishing, writing and information industries. and related fields of activity. by the estsblishmenl, administration, and award of national vocational, European, international, and other qualthcations in respect of competence. PQB is responsible for the development, delivery, and assessment of self-study courses. These are designed to improve knowledge and performance in a range of publishing-related disciplines to the widest possible group of delegates. These courses are recognised by Ihtr publishing community as indicators of professional competence. The courses facilitate enty to a variety of publishing careers, especially within the freelancè proofreading and editing community. AII PQB courses have at their cole detailed and carefully moderated performance evaluation and reporb'ng, so that delegates and employers can assess levels of excellence and knowledge. Qualifications are awarded al a level of pass, merit. or di51inction. Achiavemonts and Performance Careers Advlsory Servicè We provide free advice and support to any member of the public who is looking for education and training. We are in a unique position as we cover extensively a wde variety subject matters, we have access to 8 nefvlork of experienced tutors, and 30 years of educational work. Evonts The PQB supported the Society of Young Publishers ISYP) England and the Se¢iety of Young Publishers ISYP) Scotland through discounted fees on our courses and continuou8 engagernent in the field of education and training with their members. A* the SYP Scotland conference, the PQB offed courses as a prize in its Lucky Prite Draw. The PQB worked closely with Th8 Prlnting Charity and sponsored their awards, rebranded as the°Rising StarAward5° for youn9 talent in the publishing industry. The PQB was represented on the judging panel and a88essed applicab'ons with a fellow industry ju(tsJe and colleagues from the charity. The PQB contributed to an 'lnspiralion Day. event at a sixth-fomi college in StAb)ans to advise gludentg about gettlng Into publishing and careers in the industy-
Publishing Qualifications Board Trustees. Report (Continued) For the year ended 31 December 2021 A¢hievèm•nts and Pèrfomiancè continued DiseountlGrant Schom•$ We aro constantly looking at ways to improve our policy lo wdon acces$ to th8 general public to our educational services. In that respect. we have continued to help the unemployed and student delegates. We also worked with the Book Trade Charity IBTBSI to enable students who are financialty disadvantaged to join our courses. To fvrther extend our reach. we have offered members of the Association of Leamed and Professional Socièty Publishers (ALPSP} courses at a discount. We worked with the Bloomsbury Institute during its spring events programme, 'Careers in Publishing,, highlighting training courses and offerin9 attendees, many of whom were eag6r to start their career in publishing. a discount on enlry-level courses. Wgbslt8 and social modia As part of an ongoing proje¢t to improva the readability and user-friendlin8ss ofthe website, we redesigned tho home page in August 2021. Later in the year, we introduced vid80 content, wlh captions, of our tutors talking about our courses. Our email templates were revamped in Juty 2021 to be clearer and more accessible. To reach a younger audien¢e118-25) and th058 ¢onsidoring dfftrent career options. the PQB launched on Instagram in January 2021. Courses Dlstance Loaming The current portrolio includes 5 courses.. Essential Proofreading Essential Grammar Essential Copy-Editing Successfvl Edf(orial Freelancing Creative Copywriting. We fully recognise that our Distsnce Learning ¢ourse$ offer the opportunity to study from home and allow people lo retrain for possible new careers post-covid. However, we are mlndfijl ofthe economic consaquencas of the pandemic, and we hava offerad support to students who are in financial difficulties to enrol on our courses at a much-reduced fee. We have extended the credit period offered to students lo pay for their course fees from three to fNe instslments, again lo make the course more affordable. Our aim is to assist all sludents back in a stable working environment. The Guide fo On-screen Edking was updated. This is a free, downloadable PDF available from the website.
Publishing Qualifications Board Trustoas, Report (Contlnuod) For the year ended 31 December 2021 hievements and PerfornMnc• contlnuèd D•l•gat•s and Courn•• ThnbOr8 rnvl•w forthg Year Dlst•n¢• LgamlNJ Distance Learning revenu8 decreased by 21Yo against 2020. Our course portrolio now compri58s five programmes.. Essential Proofreadin9, Essgntlal Copy-Edhing, CreatNe Copywriting. Successful Editorial Froelancing and Essential Grammar. 800 delegates embarked on the Distsnce Leaming programmes in 2021 compared to 1,007 in 2020. n•rnl Financial Reviow Revenue decreased by 21% to £183k12020'. £232kl Totsl eXpendthI de¢rea$ed by 28% 10 £152k (2020.. £211 kl The charitable a¢ti¥ilies eXndlIUT0 was £137k and represented 90% of the total expenditure for the year12020'. £198k & 94%) The cost of govemance was £1 Sk and represented 1 OOA of the lolal expenditure f¢y the year 12020.. £25k & 12%1. The nel movement in funds was £31 k {2020.. £21k} Reserve$ Poli As al 31 December 2021, the Unr•$trbCted Rvaerves were £73.250. The Unrestricted Reserves are held as a cushion of finance dunng economic dovmlum and are also avallable forfuture plans approved by the Board. It is the policy of the PQB that we aim for Unrestricted Funds that have not been designated for new projects to be at a level equwalenl lo between the- and six-monlhs, expendiluTe on revenue Items and charitable a88&18 combined. The Trustees conslder that reserves al this level will ensijre that, in the event of a signifi¢ant drop in funding, they will be able to conlinue the Charity's current activities while considerali¢n is given to ways in which additional fund5 may be raised. Publlc B•n•flt The Publishing Qualffications Board has referred to the Charty Commission's generat guidanc on public benefft when rewewng its aims and objectives and in planning fvture acb"vf(ies. In particular the Trustees consider how planned activities will contribute to the aims and objethe3 they have seL
Publishing Qualifications Board Trustees, Report (Continued) For the year ended 31 December 2021 lans Ensure all èxisting course8 ar8 updated to comply wllh best pr8cOco and currnnt legislation. Expand our p0110 of courses to shorter leaming hours and make them more affordable to the wlt1or publk. Offer eduCatnal alfvico, supporL and fr88 downloadabb8 Leaming Guide8 to th• public. DelNer the training programme to the Tanianla In31itut• of Education wrth the support of the UK Forelgn Commonwoalth & Development Office. Explore the dellvory of olh•r Irglnlng proléets In sub-saharan countrie$ whgr• governments have responslblllty for publishing School t•xtb¢)ok, bLrt whw• the local employees lack the rolevant publishing skills. Conlinue lo Improve and optimlse the website to ¢at•r both for Ihe * incr•ase wi traffic and the thanging off•r that we provide. Work ¥th other professional organisations and Charilablo bodi8S to promote and Support publishing training. To $trat8gi¢ally build and grow th8 PQB by conslrucllng an 08$Ortment of robujt pllla 8uch as 8 membership scheme, Continuous Profesgional Development. hybrid programmes. whilst balanclng the8e actNrtie3 against Investment in a robust platform. WO with the Independent Publishers GUI (IPGI to assess tho legal optlons to best achieve our charilabl• r•miL Isks and Uncorta The principal risks and un¢ertainlio# fKlng the Charfty are.. The PQB is dependent on only one source of incom•, training coursès. Rnt onomk events have shown us how important rt 1$ to divorsify rovenue and not be dependent on just one source of income. The relatively high expenditure in d8v8loping, deploylng, and maintaining dlgllal Iralnlng programmes has to bo vlewed wlthln the contsxi of material write off8 agalnst res•Nes, should th& products fail. The EduCallonranlng environment is very unPdble post the covid-19 pandemlc. The worsening economic situation of rising in11atn. increased taxes and engrgy prices. compounded by the current war in Europe IUkTainel, is continuing to put pressure on individua18 and Compan3. Training may take a back 8•al to more pressing organisational concems as more pressure is brought to bear on botiom lines.
Publishing Qualifications Board Trustees, Report (Continued) For the year ended 31 December 2021 Statement of Trustees, Responsibilities The Trustees, who are also the Directors of the Publishing Qualifications Board for the purpose of ompany law, are responsible for preparing the Trustees. report and the accounts in accordan¢e with United Kingdom Generally Accepted Accounting Practice {Financial Reporting standard 102 and applicable lawl. Company law requires the Tnjstees to prepare accounts for each financial year which give a true and fair view ol the stsle of affairs of the Charity and of tt)e incoming sOUrceS and application of resources, including the income and expendrture. of the Charitable Company for that year. In prwring these accounts, the Trustees are required to.. Select suitabEe accounting rMYi¢ies and then apply them consistenty. Observe the methods and princieS in the Charities SORP. Mak• judgments and e$limate$ that are reasonable and prudenl. Stale whether applicable UK accourbting standard8 have been foll¢M*d. subject to any materlal departUf•S dSs¢losed and eXPIned in the finanual statements. Prepare the accounts on the going ¢oncem basis unl•ss is inappropdate to FX•8ume that the Charity will contsnuo in op•ration. The Trustees are responsible for keeping proper accounting records that diselose with reasonable accuracy al any lime the financial position of the Charity and enable them lo ensure that the accounts comply with the Companies A¢t 2006. They ale also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularllles. Dl•clo8ur• of Informatlon t¢ Auditors Each of the Trustees has confimied that there is no information of which they are aware which Is relevant to the audrt, but of which the Auditor is unaware. They have further conflrmed that they have taken appropriate steps lo identify such relevant information and lo establish Ihal the Auditors are aware of Sh infomiation. Audltors Clarke Hullun have their willingness to ¢onlinuo in office. The Board approved this reF4Nt on.. 29th April 2022 Ben Sangeelee Secretary
Publishing Qualifications Board Independent Auditors. Report To the Members of Publishing Qualifications Board We have audited the financial statement$ of the Publishing Qualifications Board for the year ended 31 December 2021 on pages 9 10 17. The financial reporting fram&work that ha8 been applied in Ihelr preparation 1$ applicable law and United Kingdom Accounting Standards (United lthngdom Generalty Accepted Accounting Practice), irKiuding FRS102'The Flnandal Rewrung standard Sp[CabI• In the UK and Republi¢ of Ireland". This report is made solely to the Charttable Company's members. as a body, in acctydance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the Charitable Company's members those mattor8 we are requlred 10 stale lo them in an Audllorfs report and for no other purpose. To the full8s1 extenl permitted by law. we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable coMY'S member$ as a body, lor our audit work. for this report. or for the opinions we havo formed. R*spe¢tlvo Responslbllltlos of Trust••s and Auditors As eXaIned more llY in the statement of Trustees, responslbllkies, the Trustees, who are also the Directors of the Publishing Qualifications Board for the purpose5 of company law, are responsible for the preparation of the ac¢ounts and for being satisfied that they give a Itue an(t fair vie4V. Our respOnbIlIty is to auk1il and express an opinion on tt)e a¢unt$ in accordance with applicable law and International Stsndards on Auditing (UK and IreLandl. Those standards require us to ccsmply the Audrting Practices Board's Ethical Standard5 for Auditors. Scopo ofth• Auditofthe Accounts An audrt involves obtaining evidence about the amounts and disclosures in the aecounts sufficient to give reasonab assurance that the accounts are free from material misstatement. whether caused by fraud or error. This includes an 8Ssessment of whether the accounting poli¢ies are appiL)priale lo the Charity's clrcumstsnces and have been congistentty applied and adequately di$¢losed', the reasonablene$s of Significant accounb'ng estimates made by the Trustees,. and the overall presentation of the accounts. In addition. we read all the financial and non-financial information in the Trustees, Annual Report lo identify malerial inconsistencies with the audited account5 and to identify any information that is apparentty materially incoryecl based on, or materially in¢onsistenl wf(h, the knowledge acquired by us in the course of perfomiing the audit. If we become awafe of any apparent material misslatements or inconsisletKie$. we consider the implications for our report.
Publishing Qualifications Board Independent Audltors. Report (Continued) To the Members of Publishing Qualifications Board Oplnion on account• In our opinlon the accounts.. giv• a true and fair view of the Slate ol the Charity's affalrs at 31 Dg¢ember 2021 and of its incoming resources and appli¢afjon of resources, including its income and exp8ndrtur• account, lar tho yoar then endod. have been PrOY prgpar¢d In accordanc8 vth Uned Klngthlm Ggnwalty Acc8Pted Accounting PraclKe. have bèen prepared In accorfanca the requlrementj of the compan Act 2006 Oplnlon on oth•r mattor prescrib•d by th• Companiej Act 2006 In our opinlon thg Inf0mtion given in the Tru$tse$' Annual Rewt for the finanaal year for vknich the accounts are prepared is consistent lti th8 acc(¥Jnts. Ilattar5 on whlch •r• roqulr•d to r•port by •x¢optlon We have nothlng to report In respect of Ihe foll0vng matters whore the Companlos Act 2008 require8 U8 lo report to you if, in our oplnion.. adequate acCounn9 records h8v• not b•M kept, or r•lum8 adequate our audlt have not been received from branches not vislt•d by us,. or the accounts are not in agreement th the aCCountw records aNI rm$., Certa disckJsufts8 of Tru5tee8' remun•ration speclfied by are not made., or we hav• not r•c•ived all the infomatlon and axplanations we r8quire for our audll. Mr. Ka Huttun (Senior Slalutory Auditor) For and on Behalf of Clarke Huttun, Slalulory Auditor Chartered Accountants Summit Court Barnel London ENS SYR Dated: 29thh April 2022
Publishing Qualifications Board Statement of Financial Activltles For the year ended 31 December 2021 Nots8 2021 Unre•trlctsd fund5 2020 Unrèstrlctod fund8 Course8 183,557 232,353 Total income 183.557 232.353 Exp•ndlturo on: Publi¢ity and PTomoJon 15,143 13,095 Charltablè actlvltl Courses 137,425 197,902 Totsl exp•ndltu 1S2,$68 210,997 Not mov•m•nt In lund• 30.989 21.356 Fund balanc0$ at 1 January 2021 42.261 20.905 Fund balanco8 at 31 Dgcombgr 2021 73,250 42,261 All activities are continuing. The notes on pages 12 to 17 fomi part of the5¥ xcounts. The stsloment of financial aclivth.es also ¢omplies wth the requirements for an income and expenditure aocount under the Companies Act 2008.
Publishing Qualifications Board
Charity Balance Sheet as at 31 December 2021
| Notes | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| Current Assets | |||
| Debtors | 7 | 8,662 | 6,250 |
| Cash at bank and in hand | 192,484 | 146,480 | |
| 201,146 | 152,730 | ||
| Creditors: | |||
| Amounts falling due within one year | 8 | (127,896) | (110,469) |
| Net current assets | 73,250 | 42,261 | |
| Net Assets | 73,250 | 42,261 | |
| ======== | |||
| Income Funds | |||
| Unrestricted funds | 73,250 | 42,261 | |
| Total Funds | 73,250 | 42,261 | |
| ------ ------ |
------ ------ |
These accounts have been prepared in accordance with the provisions applicable to Companies subject to the small companies' regime within Part 15 of the Companies Act 2006.
The Financial statements were approved by the Board of Management on: 29[th ] April 2022
(Elisabeth Tribe)
Company Registration No.: 2607034
10
Publishing Qualifications Board Statement of Cash Flows for the year ended 31 Decomber 2021 Not& 2021 2020 Cash generatedlused in oparatlng activities 46,004 40,260 IncreasellDg¢r&asel in cash and cash equivalents 46,004 40,260 Cash and cash equlvalents at tho bfrginning of the year 146,480 106,220 Total ¢a$h and cash equivalents at thè end of the year 192,484 146.480 A. Raconciliation of net movemgnt In funds to net cash flow from operating a¢tlvltl&s 2021 2020 Nel IncomelExpendilure Increase1(De¢asel in debtors IncreasellDecrease} in creditors 30,989 12.4121 17,427 21,356 11951 19,099 Nel inflowlloufflow) cash flow from operating actwilies 46.004 40.260 B. Rg¢onclllatlon of net cash flow to movement in net funds 2021 2020 Balance al 1 Jan 2021 Net cash oufflowlinflow 146,480 48,004 106.220 40,260 Balance al 31 Dec 2021 192.484 146,480
Publishing Qualifications Board Notes to the Financial Statements For the year ended 31 December 2021 1. Accountlng Pollcles A¢¢ounting basis and standards The financial slalemenls have been prepared under the historical ¢osl convention. The financial statements are prepared in UK £ Sterling which is the functional currency of the Charity. The financial statements have be&n prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in March 2005 and the Companies Act 2006. The statement of financial activities ISOFAI and balance sheet consolidate the financial statements of the Publishing Qualifications Board. The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charbties.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accord8n¢e with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021, leffeclive 1January 20151, (Charities SORP (FRS10211, the Financial Reporting standard applicable in the UK & Republic of Ireland IFRS1021 and the Companies Act 2006. The $ignifi¢anl accounting policies applled in the preparation of these finan¢ial statements are set out on pages 12-17. These policies have been consislenlly applied to all years presented unless othgnNise staled. 1.2 Proparation of tho accounts on a golng ¢oncem basis The reported surplus is £31 k. The Trustees consider there are no material uncertainties about the Charty's ablllty to contrnua as a going concern. The review of our financial position, reserves levels and future plans gives thè Trustees confidence that the Charity remains a going concern for the foreseeable futura. 1.3 Income Income is ¢09led when the Charity have enlillement to the funds any performance conditions attached to the ilemlsl have been mel, il is probable that the income will be received, and the amount can be measured reliably. For the Distance Learning courses, entitlement to the fees is taken when the student enrols but subject to a thirty-day cooling off period. 12
Publishing Qualifications Board Notes to the Financial Statements For the year ended 31 December 2021 1.4 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Expenditure is recogni$ed where there is a legal or constructive obligation tc> make payments to third parties, it is probable that the settlement will be required. and the amount of the obligation can be measured reliably. It is calegorised urtrder the following headings.. Costs of publicity and promotion Expenditure on charitable activities includes support and govemance costs Support costs are those functlDns that assist the work of the Charity but do not directly undertake charitable aclivilies. Support costs include back-office costs, personnel, payroll, and governance costs which 5UPPOrt the aclivilie5 of the Board. Govemance costs are those incurred in connection adminislralion of the Charity and compliance of conslilulional and statutory requirements. The Board identifies the costs of its support fun¢lions. It then identifies those costs which relate to the governance function. Having identified ils governance costs, the remaining support costs together with governan¢e cost$ are 8llo¢ated lo the one kèy charitable actiwty undertaken in the year. 1.5 Value Added Tax The Publlshlng Qualificatlons Board is part of a VAT group. It is normally able to reclaim from HM Revenue & Customs IHMRC) all VAT It pays on goods and services it buys. However, to do so, il has to remain within a partial exempts.on limit. If. in any financial year, the limit is exceeded the group would be unable to recover that part of the VAT il incurred in providing exempl supplies. Exempt supplies as defined are those that the group provides where the charge made is exèmpt from VAT. The main supplies that fall under this heading are the provision of Distance Learning courses. However, the tumover for the Dl8tsnce Leaming supply has placed the abillty to remaln under the Ilmlt In leopardy. £105 of irrecoverable VAT has been provided for in the accounts to meet this liability. 1.6 Fund accounting The Charty's Unrestricted General Funds consist of funds which can be used in a¢¢ordan¢e with the charitable objects al the discretion ol the Trustees. 13
Publishing Qualifications Board Notes to the Financial Statements For the year ended 31 December 2021 1.7 Critical accounting judggmgnts and key sources of estimatlon uncartalnty In the appli¢alion of the Charity's accounting poli¢ie$, which are described in note 1. the Trustees are required lo make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other SOLJr¢es. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevanl. Actual results may differ from these estimate5. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised rf the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Tru51ees do not consider there ar& any critical judgements or sources of eslimalion uncertainty requiring disclosure. 2. Income from charitable activities 2021 2020 Distsnce Leaming course5 183,557 232,353 183.557 232.353 All income from charitable activities was attributsble to the unrestricted funds. 3. Publicity and promotion These are the costs incurred in promoting the educational activities of the Charty. They include advertisements in print and digital media. All costs were attributsble to the unrestricted funds. 14
Publishing Qualifications Board Notes to the Financial Statements For the year ended 31 December 2021 4. Analysis of trxpenditure on charitsble activltles A¢tivitigs undertaken directly Support costs Total Distance Learning courses 81,684 55,741 137,425 81.684 55,741 137,42S All ¢osls for 2021 12020.. £197,902) ¥vere attributable lo unrestricted funds. 5a. Analysis of 5UPPOrt and governance costs Support Governancè Total 2021 2020 Basis Office costs linc. Renti Human resources linc. pension) Other linc IeCoVerable VATI Audlt & Tax fees 2.835 945 3,780 7,708 Allocated on time 87,814 Allocated on time 37,929 12,827 50.756 105 105 363 Support 1,100 1,100 1,100 Governance Total 40.869 14,872 55,741 96,985 Sb. Govornanca costs 2021 2020 Audltorfs remuneralitin Support costs 1.100 13.772 1,100 24.112 14,872 2S,212 Governan costs include payments to the Auditors of £1,10012020.' £1,000) for audit fees and £nil12020.' £nill for other setwices. 15
Publishing Qualifications Board Notes to the Financial Statements For the year ended 31 December 2021 6. Analysis of $tsff Costs. Trustso remuneration and expenses and the cost of key manag&ment pèrsonnèl The average number of employees, analysad by function, during the year was.. 2021 2020 Courses Governance Web and Promotion The average number of lull-time equivalent employees was 212020.. 2}. Their aggrogatè remuneratlon Comprisod: 2021 2020 Wages and salaries Social security costs Pension costs 43,598 3,240 3,918 74.420 5,184 8,210 50,756 87,814 There were no employees whose annua5 remuneration was £60,000 or more. Tru$tws' remungratlon None of the Trustees lor any persons connected with them) received any remuneration during the current and prior year in their capacity as Trustees. Total travel and subsistence expenses were £nil12020.' £nill. 16
Publishing Qualifications Board Notes to the Financial Statements For the year ended 31 December 2021 7. Debtors 2021 2020 Trade debtors Pre-payments 7,177 1,485 4,245 2,005 8.662 6,250 8. Creditors: amount falling due within one year 2021 2020 Accruals 127,896 110,469 127,896 110,469 9. Taxation As a registered Charity the Publishing Qualifications Board is exempl from Corporation Tax on ils charitable activities. 10. Relatsd party transactions In the current year no related party Iransa¢l¢ons were reported either frorn the Trustees and management. 11. Contingènt liabilitios There were no contingent liabilities at the year end. 12. Capital commitments There were no capital commitments either authorised by the Trustees or contracted for al the balance sheet date. 17