Registered number: 02640936
Charity number: 1004087
SKILLS AND EDUCATION GROUP
(A Company Llmlted by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

SKILLS AND EDUCATION GROUP
(A Company Limitad by Guarantee)
CONTENTS
Page
Ref8renc6 and Admlnistratlvo Details of the Charfty, Its Trusteas and Advlsérs
Trustèes. Report
Indèpendent Audltorn. Rèport on the Flnanclal Statements
Consolidat•d Statement of Flnanclal Actfvlties
3-12
13-17
18
Con•olldated Balance Sheet
19-20
Charity Balance Sho•t
Consolldatsd Statement of Cash Flows
21-22
23
Notss to the Flnanclal Statements
24-50

SKILLS AND EDUCATION GROUP
{A Company Llmitsd by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2024
Trustees
S C Alton
J P Beaty (resigned 10 July 2024)
G Clipson MBE (resigned 31 January 2025)
P A Eeles (resigned 8 April 2025)
V A Hancock (resigned 18 October 2024)
J Smith, Chair
Y Y Mellor (resigned 18 November 2024)
A G Stott (resigned 10 January 2025)
L J Tildsley (resigned 23 April 2024)
T Hamilton-Dick (resigned 15 September 2023)
L D Probert (resigned 20 October 2023)
E A Barrett OBE (appolnted 23 April 2024)
Y Koursis OBE {appointed 23 April 2024)
K J Merry (appointed 23 April 2024)
R J Nicholls (appointed 23 April 2024)
D Poole (appointed 23 April 2024)
Dr R J Gater (appointed 23 April 2024, resigned 30 October 2024)
Dr G Scott (appointed 7 February 2025)
J F Scorer (appointed 7 February 2026)
Company registered
number
02640936
Charity reglstared
number
1004087
Reglstered offlce
Robins Wood House
Robins Wood Road
Aspley
Nottingharn
NG8 3NH
Company Secretary
S Nouman (appointed 26 March 2025)
T De'Ath (appointed 7 December 2023, resigned 26 March 2025)
S Feneley-Lamb (resigned 7 December 2023)
Key management
Interim Chief Executive: Y Mellor
Independent auditors
Streets Audit LLP
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
Banker5
Natwest
536 Valley Road
Nottingham
NG51FL
Page 1

SKILLS AND EDUCATION GROUP
(A Company Umited by Guarantse)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Sollcltors
Bates Wells
10 Queen Street
London
EC4R 1BE
Page 2

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report tQ9ether wth the audited financial statements of the Charity for the
year fromyear 1 September 2023 to 31 August 2024. The Annual Report senies the purposes of both a
Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and
financial ststements of the charitable company comply with the current ststutory requirements, the requirements
of the charitable companys governing document and the provisions of the Statement of Recommended
Practice (SORP) applicable to charities preparing their accounts in accordance wth the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Objectlves and actlvltles
a. Pollcles and objectlves
The Charity provides a range of service in furtherance of its charitable objective to support 'the advancement of
skills and education to improve the lives of individuals" These services include..
awarding and assessment services and qualifications regulated by CCEA (Northem Ireland), Ofqual,
Qualification Wale5 and SQA (Scotland) on a national and international level
awarding Acce5S to HE Diplomas regulated by the Qualifications Approval Agency (QAA>
awarding and assessment services for non-regulated skills and education programmes on a national and
international level
delivering end-point-assessment (EPA) services approved and regulated by the Institute for
Apprenticeships and Technical Education (IfATE) and Ofqual
the development and delivery of professional development programmes to meet the training needs of
teaching and non-teaching staff across the further education sector
customised training for colleges and training providers developing programmes to support and develop
the professionalisats'on of the further education sector
delivery of project-based activities to improve individuals, knowledge on labour exploitation and modem
slavery
local, regional and national stakeholder engagement to inform and support policy developments and
implementation
championing social mobllity, supporting leamers with grants and support through a Foundation
The Charity's strategic aims adopted in support of these objectives are identified by an annual strateglc planning
process culminating in "Arnbition 2025" setting out the strategy and direction of the charity to August 2025. This
is supported by an annual process which sets out clear strategic targets for in year achievement. Plans are
agreed and monitored by the Board of Trustees.
In setting objective8 and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Comrnission relating to public benefft, including the guidance 'Public benefft.. running a
charity (P82)'.
Achlevements and perforniance
a. Maln achlevements of the Charity
Achlovements and perfomiance delivering public beneflt
The Charity is dedicated to making a positive impact on people's lives through education and skills-based
training. It is guided by values of ethiGs, professionalism, teamwork, and a commitment to achieving
educational, economic, and social advancement for all. The Charity, through its work, provides financial support
to learners, acce55 to professional development programmes, and other initiatives to support teaching, leaming,
assessment, and governance across the further education sector.
Page 3

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achlevements and performance Icontlnued)
Professional Development
The Charity continues to provide high quality professional development programmes, nehvorks, and
conferences all of which aim to support the sector's workforce. The range of services provided is designed to
enable the sector, and the staff that V￿rk within it. to enhance the lives of young people, adults, and the
communits'es our members and non-members serve.
Professional development events were attended by participants in the UK and intemationalty. The increasing
demand for in-houselbespoke training continues and events were tailored to meet this demand.
The Charity's Conference took place in May 2024. The fijlly booked event attracted over 300 delegates,
including staff from across the further education and skills sector, sponsors and exhibitors. The conference
included keynote speeches, panel sessions, workshops, and an exhibition, with a range of speakers sharing
their perspectives on the further education and skills sector.
Work to support minority communltles also continues in collaboration with the Foreign, Commonwealth and
Development Office, Gangmasters and Labour Abuse Authority and the Home Office. This work focuses on
increasing awareness Wlthin the Romanian community in the UK of their workers, rights under UK law to prevent
labour exploitation,
Ski118 and Education Group Foundation
The Charity's Foundation champions social mobility by supporting leamers and education providers through
grants, advocacy, and recognition. It provides financial support to learners, staff, and providers, with the goal of
expanding access to education, acceleraling social mobility and building a fairer society. Through the
Foundation's Learner Grants, Actlon Research Grants and Resource and Facilities Grants.
The Foundation's Learner Grant helps individuals to overcome social barrierg and advance their skills and
education, these grants are for applicants who demonstrate a commitment and willingness to achieve but face
financial andlor social adversity.
Grants help provide learners with digital equipment like laptops and tablet devices, transportation costs,
educational resources and more. This enables learners to advance in their studies and prevents them from
being excluded and at a disadvantage in comparison to their peers.
Action Research Grants up to £6,000 to support aclion research projects that irnprove practice, widen learner
participation, and increase social in¢lu5ion across a breadth of student demographics.
Projects induded activities aimed at helping retention of English and maths students of lower SOCiOweconomic
backgrounds, improving inclusion for learners with special educational needs and disabilities and more.
The Resource and Facilities Grants provide up to £2.000 to deliver material improvements to leaming providers.
These grants can be used to fund time-limited projects wth clear physical outcome5, or to renew or improve
resources or facilities. They sUPPOrt applicants in mitigating a problem that is negatively affecting the experience
of their leamers or the ability of their colleagues to deliver high-quality teaching.
Page 4

SKILLS AND EDUCATION GROUP
(A Company Llmlted by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achlevements and performance (contlnued)
Awarding Servlces
The Charity's awarding services are delivered through Skills and Education Awards and BIIAB Qualifications
Limited (BIIAB). Ski115 and Education Group AvRrds is a leading national awarding organisation with a long-
established reputstion for providing high qualty support and services to the education sector regulated by
CCEA, Ofqual and Qualrfications Wales.
BIIAB is an awarding and end-point assessment organisation of choice for work-based leaming providers,
employers, and the further education sector with a focus on licence to practice qualifications and the hospitality
sector. BIIAB is regulated by CCEA, Ofqual, Qualifications Wales and SQA.
Skills and Education Group Awards portfolio continues to offer qualifications across a range of sectors. All new
qualifications are developed in partnership vlith employer$ to ensure they moet industy needs and align to new
government reforms.
Aslde from qualificatlon delivery, Skills and EdU￿tIon Group Awards and BIIAB contlnue to grow their end-point
as5e55ment portfolio.
Skills and Education Group Access continueg to have a strong social purpose to recogni5e achievement,
particularly for those who have benefitted least from their educational experiences, through its work it supports
the needs of individuals, providers, businesses, and communities by enabling progression into higher education
through Access to HE Diplomas.
b. Fundralslng actlvftles and Income genèratlon
The charitable group does not carry out any significant fundraising activities.
Page 5

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Flnanclal review
a. Golng concem
At the year end, in light of the Group's operational circumstsnces, the Trustees considered it necessary to
undertake a detailed assessment with external support as to vthether the Group and its subsidiary entities can
continue to operate for the foreseeable future.
The past year presented significant challenges- however, followtng appropriate enquiries, the Trustees have
reasonable expectation that the Group has adequate resources to continue in operational existence for the
foreseeable future. As a result, the Trustees continue to adopt the going concern basis in preparing the financial
statements. Further information on the adoption of the going concem basis is provided in the accounting
policies.
Thls conclusion is supported by ihe following factors..
Following the year end, under new leadership, a number of strateglc operational and financlal declslons
have been taken to course-correct and stabilise the Group's activities..
The organisation is well positioned, with sufficient resources secured and a clear strategic plan in place to
mitigate and navigate the challenges ahead.,
The Trustees have reviewed the Group's financial position, including the level of reserves held, post year-
end performanGe, and projected income and expenditure for a period of at least 12 months from the date
of approval of these financial statements. Based on these forecasts, which indicate a return to P051tive
EBITDA, the Trustee5 are confident that the Group remains a golng concern,
b. Reserves pollcy
It Is the policy of the Charity that unrestricted funds which have not been designated for a speclfic purpoge
should be maintained at a level necessary lo provide a contingency to support day-to-day bu$ine$s activities in
the event of reduced income and provide a strategic fund to develop and grow the Charfty. Trustees also wish to
build reserves to fulfil a Group-wide objective to support social mobility.
In line with best practice guidance, Trustees review the reserves policy each year and confirrn that this level of
reserve has been maintained.
It is the Charity's policy to work to building and maintaining reserves to:
support the short, medium and long-term objectives of the Charity and it5 subsidiary charities
re-invest any surplus funds to support, develop and expand the delivery of high-quality services
re-invest any surplus fvnds to support activities that enable social mobility and provide a public benefit
maintain sufficient reserves that are readily realisable to sustain operations as and when required
cover deficits, when arising, from general rese￿eS
mitigate the risks of unforeseen challenges, emergencies or other unexpected requirement for fvnd5
maintain designated funds that recognise funds that are to be used for a specific purpose
cover statutory obligations to close and wind-up the charitable Charity'5 affairs in an orderly manner,
when required.
Unrestricted funds at the end of the year were £2,555,049 (2023-. £4,794,852), with free reserves which exclude
fixed assets and are stated before creditors and liabilities falling due after more than one year in a deficit
position of £489,660 (2023.. £1,342,713 surplus).
Page 6

SKILLS AND EDUCATION GROUP
(A Company Limlted by Guarantaa
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Reserve
Contingency
Pur
ose
.Sustain business operations
.Cover deficits
.Mitigate the Tisks of unforeseen
challenges andlor emergencies
.Cover ststuto
obli
ations
.Support short, medium and
long- term objectives
.Support grow1h
.Invest in research and
development for new products
and services
.Infrastructure development to
support strategic growth including IT
infrastructure and
lications
.Re-invest surplus funds to support
social mobility and provide public
benefit
.Designated fund recognising local
overnment
ension scheme deficit
.Funds for a designated purposed
defined by contractual agreements
with third parties {proJe¢t-based
activities
et Amount
£1,400,000
Strategic
£500.000
Social Mobility
£140,000
Designated Pension Fund
£Nil - per actuary valuation
Designated Fund - Third Party
Contracts
£ioo,000
c. Matsrfal investments poIIcy
The Charity holds an ethical investment portfolio of listed securities with Brewin Dolphin. The current risk profile
is low to moderate which reflect5 a focus on income over capital gr0￿h. The Trustees consider the Investment
to be long term with an objective to grow the income at least in-line with inflation. At the end of August 2024, the
portfolio had a value of £nil, all investments were disposed of during the year. (2023: £353,818).
d. Princlpal rfsks and uncertainties
Trustee5 remain aware of the educational and political environment in whiGh the Charity operates and recognise
the challenges facing providers in the further education sector.
Key Ti5ks to the Charity are..
A fast-changing political environment that has an impact on education policy and funding to support this
Regulatory changes and a failure to respond to these in the way that is needed to ensure continuing
compliance
Failure to appropriately manage and store personal data leading to a data breach under the General Data
Protections regulations.
Trustees are satisfied that the systems and review processes are in place to mitigate and manage the risks.
Strategic risks are managed and monitored through risk registers- one for each of the subsidiaries ￿￿thin the
Group. Risk registers are reviewed and updated by the Senior Leadership Team monthly and further reviewed
by Trustees quarterly.
Risk registers are rated on a w￿1ghted likelihood and impact scale based on Charity Commission Guidance.
Page 7

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guaranta8)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2D24
e. Flnancial perforniance and position
The Charity suffered a significant deficit of £2,239,803 (2023.. £76,461 surplus), after taking into account gains
and losses on investments, and actuarial losses on the pension scheme liability.
Total income was £6,970,347 (2023.. £6,086,650) and totsl expenditure VRS £8,723,573 (2023.. £5,895,065) and
reflects the increased costs during the year of 5eTvicing project activities, including the distribution of funds to
FE providers enabling them to develop new approaches to teaching, learning and assessment.
staff costs for the year were £3,726,682 (2023- £3,203,729). Salaries and associated costs remain the primary
cost to the Charity.
Net assets at the year end were £2,555.049 compared viith £4,794,852 at 31 August 2023,
Structure? govemanco and managem•nt
. Constitution
The organisatlon Is a charitable company limited by guarantee, whlch set-up on 27 August 1991.
The company was set-up under a Memorandum of Association which established the objectives and powers of
the charitable company and is governed under it's Articles of Association. Its charitable objective is "the
advancement of skills and education to improve the lives of individuals..
Skills and Education Group is the parent charitable company of the group, vthich includes..
Skllls and Education Group Awards, a charitable company Ilmlted by guarantee..
Company Number 04117784
Charity Number
1086947
Skills and Education Group Access a charitable company limited by guarantee..
Company Number 03773914
Charity Number
1088839
BIIAB Qualifications Limited, a company limited by shares..
Company Number 10054831
The Skills and Education Group delivers its products and sepiices through a brand structure that maintains and
protects the profile and reputation of the Charitieslcompanies within its structure.
Page 8

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Structure, govemance and managemont (contlnued)
b. Methods of appolntment or electlon of Trustees
There was ten changes to the Board during the year:
J P Beaty resigned on 10 July 2024
V A Hancock resigned on 18 October 2024
L J Tildsley resigned on 23 April 2024
T Hamilton - Dick resigned on 15 September 2023
L D Probert resigned on 20 October 2023
E A Barrett appointed on 23 April 2024
Y Koursis appointed on 23 April 2024
K J Merry appointed on 23 April 2024
R J Nicholls appointed on 23 April 2024
D Poole appointed on 23 Aprll 2024
Trustees are recruited in accordance wlth the Articles of Association (revised, adopted 12 October 2021)
Section 18 - 21 which Govers elected, co-opted, and subsidiary representative Directors.
All ne￿Y appointed Trustees complete a skills audit to ensure a balance of skills, knowledge, and experience5
to support the development of the Charity. Trustee recruitment reflects ongoing and future skills and knowledge
needs.
c. Organlsational structure and decision-making polici08
The Board of Trustees meets four tirnes a year. Trustees:
support the Chief Executive and Senior Leadership Team (SLT) to determlne the strategic direction of the
Charity and review annual strategic plans, busines5 plans and Key Perfonnance Indicators.
approve annual budgets, receive and review quarterly management accounts to monitor and challenge
performance
review and monitor the strategic risk register to ensure that the appropriate controls are in place to
mitigate risks
ensure that appropriate govemance review mechanisms are in place and that perfomiance is reviewed
and that Charity Commission guidance is followed.
The Chairs and Chief Executive meet four times a year, wthich enables the Chairs to have a collective and
strategic oversight of the Charity. The Chairs of the Charity, Skills and Education Group Access, Skills and
Education Group Awards and BIIAB Qualifications Limited are members of this Group.
The Group meets ahead of quarterly Board of Trustees meetings and provides a structure for the Chairs to
review and monitor:
the performance of the Chief Executive and the Senior Leadership Team
financial performance for the Charity and take a holistic view of all entities wthin the Group structure
performance against strategic and business plans the Charity and all other entits'es
identify opportunities for growth and the approach that may be taken to progress these
detemiine longer-teim strategic direction to help shape plans and proposals for all Trustee5 to consider.
The Chief Executive is a Trustee of the Ski115 and Education Group. an appointment made under article 20 of
the Skills and Education Group Articles.
Page 9

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantee)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Structure, governance and management Icontinued)
Day-to-day management of the Charrty 15 delegated to the Chief Executs've 15 5UPPOrted by a Deputy Chief
Executive.
The Executive is supported by a Senior Leadership Team (SLT), who support Ihe Chief Executive and Deputy
Chief Executive with operational and strategic matters. The Senior Leadership Team meets on a weekly basis,
y￿th an extended monthly meeting which focuses on overall Group strategy, finance, and HR matters.
A Senior Management Team (SMT) in addition to SLT meets monthly focusing on operational and departmental
matters across the Group. The SMT is chaired by the Deputy Chief Executive and comprises of all SLT
members, and Heads of services and functions from across the Skills and Education Group.
In addition to SMT, a monthly Scrutiny Group is held. This meeting is attended by the Executive and SLT. The
meets'ng is chaired by the Deputy Chief Executive and is used to formerly review regulatory needs across all
awarding functs'ons wtthin the Group.
The Deputy Chlef Executive act8 as the Data Protectlon Officer across the Group and is supported by members
of the Senior Leadershlp Team.
d. Pollcles adopted for the inductlon and tralnlng of Trusteos
NevAy appointed Trustees receive an induction under the direction of the Chief Executive. This normally
indudes an introductory visit to Robins Wood House where there is an opportunity to meet with key staff to gain
a detailed understanding of the Charity and the subsidiaries within this.
Trustees also complete a declaration of interest record and skills audit on appointment. Declaration5 are noted
on the Register which is reviewed and updated on an annual basis. Trustees are also asked to State any
interests at the start of each Board meeting.
e. Pay pollcy for koy management personn81
Remuneration for the Chief Executive is detemilned by the Chairs of the Skills and Education Group and
subsidiaries. The Chief Executive determines the remuneration for all staff, including the Deputy Chief
Executive and Senior Leadership Team.
All annual cost of living pay awards for staff are subject to recommendation to and approval of the Board of
Trustees.
f. Financial rlsk management
The Trustees have assessed the major risks to which the Group and the Charity are exposed, in particular
those related to the operations and finances af the Group and the Charity, and are satisfied that systems and
procedures are in place to mitigate exposure to the major risks.
Page10

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Plans for future perlods
Trustees continue to support "Ambition 2025°, challenging assumptions and using their skills and kno￿edge to
define objectives and associated targets. Ambits'on 2025 is a strategic plan that articulates ten key priorities that
will take the Charity forward. This redefined the Charity's purpose, mission, and vision to reflect the expanded
Group and the services that this now provides..
Purpose:
To support the development and delivery of further education and skills providers and their staff
Champion and support the social impact of the further education and skills sector
To develop and award industry relevant, high-quality qualifications, accreditations and end-point
assessments
To be a national leader in Access to HE, awarding high quality Access to HE Diplomas that enable
learners to progress into further study andlor employment.
Mlssion:
The advancement of skills and education to improve the lives of individuals.
Vlslon:
To provide high-quality services centred on collaboration, responsiveness, and dlverslty, supporting our
members and customers to positively impact on the leamers, communitie5, and sectors they serve to achieve
their full potential, no matter whattheir age, background or abilty.
The plans set annual key performance indicators in the context of a longer-temi objectives..
To see a growth in membership
Increase the number of people participating in professional development event5
An increase in the uptake of grants to learners awarded through the Group's Foundation
Raise awareness of the charities work, through its Foundation, in widening participalion and social
mobility
Grow the number of leamers benefltlng from a certificate form at least one of the charity's awarding
brands
Grow the collective avmrding share
Ensure that a surplus is generated
Explore intemational opportunities
Ensure good staff engagernent and satisfaction.
Page11

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantea)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2D24
Statement of Trustees. rgsponslbilities
The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for
preparing the Trustees, Report and the financial statements in accordance wth applicable law and United
Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice).
Company law require5 the Trustees to prepare financial statements for each financial year. Under company law,
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the Group and the Charity and of their incoming resources and application of
resources, including their income and expenditure. for that period. In preparing these financial statements, the
Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 1021.,
make judgments and accounting estimales that are reasonable and prudent.,
state whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financlal statements on the going concern basis unless it is inappropriats to presume that the
Group will continue in busines5.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Group and the Charity's transactions and di5c105e with reasonable accuracy at any time the financial
position of the Group and the Charity and enable them to ensure that the financial statements comply wth the
Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and
hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
D18cIoguro of Information to audltorn
Each of the persons who are Trustees al the time when this Trustees, Report is approved has confim)ed that:
so far as that Trustee is aware, there is no relevant audlt Infomiation of which the charitable group's
auditors are unaware, and
that Trustee ha5 taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charitable group's auditors are aware of that
information.
Approved
by
order
of
the
members
the
board
and signed on their behalf by..
Trustees
on
J Smith
(Chair of Trustees)
Page 12

SKILLS AND EDUCATION GROUP
IA Company Umited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies Icontlnued)
2.7 Intanglble assots and amortlsatlon
Intangible assets costing £500 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Intsngible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisation and any accumulated irnpairment
losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on
a straight-line basis over its expected useful life.
Amortisation is provided on the following bases..
Development expenditure
Website
Bespoke software
Goodwill
not depreclated
25 % straight line
20 % straight line
10 UA straight line
2.8 Tangible fixed assets and deprgclatlon
Tangible fixed assets costing £500 or more are capitslised and recognised when future economlc
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model,
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condltlon should be Included In the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the 5traight-line method.
Depreciation is provided on the following bases..
Property
Fixtures and ffttings
Office equipment
Computer equipment
other fixed assets
1.15 % straight line
10_25¢hl straight line
20.330A straight line
20.330￿ straight line
5-10% straight line
2.9 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the
value cannot be measured reliably in which case it is measured at cost les5 impaimient. Investment
gains and losses, vthether realised or unrealised, are combined and presented as 'Gainsl(Losses)
on investments. in the Consolidated SLitement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impaimient.
Page 26

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantea)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policie8 Icontlnued)
2.3 Income
All Income Is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tsx recoverable in relation to Investrnent income is recognised at the Ilme the Investment
income is receivable.
Other Income is recognised in the perlod In whlch it is receivable and to the extent the goods have
been provided or on completion of the seTVlCe.
2A Expenditure
Expenditure is recogni5ed 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 activty are made up of the total of direct cost5 and shared costs,
inciuding support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which Gontribute to more than one activity
and support costs which are not attributable to a single activity are apportioned between those
activits'es on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable actlvities is incurred on directly undertaking the activities which further the
Group's objectives, as well as any associated support costs.
Ail expenditure is incluslve of irrecoverable VAT.
2.5 Research and d•v•lopmont
Development costs are capitslised withln Intangible assets where they can be identlfied with
specific produd or project anticipated to produrk future benefits, and are amortised on the straight
line basis over the anticipated life of the benefits arising from the completed product or project.
Deferred research and development costs are reviewed annually, and where future benefits are
deemed to have ceased or to be in doubt, the balance of any related research and development is
written off to the Consolidated Statement of Financial Activities.
2.6 Interest receivable
Interest on funds held on deposit is included vthen receivable and the amount can be measured
reliably by the Group- this is normally upon notification of the interest paid or payable by the
institution y￿th whom the funds are deposited.
Page 25

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
General Infomiation
The Charity is a company limited by guarantee, incorporated in England and Wales, and consequently
does not have share capital. It's aim is the advancement of the education and training of young people
and adults. Each of the Trustees is liable to contribute to an amount not exceeding £1 towards the assets
of the parent charitable company in the event of liquidation.
The financial statements are prepared in pound sterling which is the functional cU￿encY of the entity.
Accounting policles
2.1 Basis of preparatlon of financlal Statements
The financial statements have been prepared in accordance ￿th the Charities SORP (FRS 102)
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 October 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companie5 Act 2006.
Skills and Education Group meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet
consolidate the financial statements of the Charity and its subsidiary undertaking$. The results of the
subsidiaries are consolidated on a line by line basis.
The Charty has taken advantage of the exemptlon allowed under section 408 of the Companies Act
2006 and has not presented its own Statement of Financial Activities in these financial statements.
2.2 Golng concem
The financial statements have been prepared on a going concern basis. At the year end, the Group
reported net current liabilities of £179,660, which necessitated a detailed assessment by the
Trustees with external support a5 to whether the Group and its subsidiary entits.es can continue to
operate for the foreseeable future.
After making appropriate enquiries, the Trustees have a reasonable expectation that the Group ha5
adequate resources to continue in operational existence for the foreseeable future. While the past
year has presented significant challenges which did give rise to material uncertainties, the
organisation is showing positive signs of recovery. Under new leadership, a number of strategic
operational and financial decisions have been taken to course-correct and stsbilise the Group's
activities. The organisation is well posits-oned, with sufficient resources and a clear strategic plan, to
mitigate and navigate these challenges.
The Trustees have reviewed the Group's financial position, including the level of funds held, post
year-end results, and the projected income and expenditure for a period of at least 12 months from
the date of approving these financial statements. Based on these forecasts, which indicate a retum
to positive EBITDA, the Trustees are confident that the Group remains a going concem.
For this reason, the Trustees continue to adopt the going con￿rn basis in preparing the financial
statements.
Page 24

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantse)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Cash flows from operating actlvltle8
Net cash used in operating activities
(541,055)
458.535
Cash flo￿ from Investlng actlviti•s
Dividends, interests and rents from investments
Purchase of intangible assets
Purchase of tangible fixed assets
Proceed5 from sale of investments
Purchase of investments
14,863
18,282
1733,548) (379,665)
(105,210) (269,921)
383,796
76,518
(31,849)
(78, 700)
Net cash used in investing actlvltlos
(471,948) 1633A86)
Cash flows from financing actlvltles
Net cash provlded by flnancing actlvities
Change In cash and cash oqulvalonts In the year
Cash and cash equivalents at the beginning ofthe year
11,013,003) 1174,951}
1,273,878
1,448,829
Cash and cash equlvalents at the end of the year
260,875
1,273,878
The notes on pages 24 to 50 form part of these financial statements
Page 23

SKILLS AND EDUCATION GROUP
IA Company Limitsd by Guarantee)
REGISTERED NUMBER: 02640936
CHARITY BALANCE SHEET ICONTINUED)
AS AT 31 AUGUST 2024
2024
2023
Note
Charlty funds
Restricted fvnds
Unrestricted funds
21
21
1,866,156
2,474,218
Total funds
1,866,156
2,474,218
The Charitys net movement in funds for the year was £(608,062) (2023 - £611,292).
The Trustees acknowledge their responsibilities lor complying with the requirements of the Act with respect to
accounting records and preparation of financial ststements.
The financial statements were approved and authorised for issue by the Trustees on
and signed on their behalf by..
J Smlth
(Chair of Trustees)
The notss on pages 24 to 50 fomi part of these financial statements.
Page 22

SKILLS AND EDUCATION GROUP
(A Company Limitad by Guarantea)
REGISTERED NUMBER: 02640936
CHARITY BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
Flxed assets
Intangible assets
Tangible assets
Investments
14
15
16
139,581
1.283,974
1,712,936
96,613
1,264,542
1,724,312
3.136,491
3,085,467
Current o580ts
Debtors
Cash at bank and in hand
18
1,123,310
5,459
935,067
44,254
1.128,769
979,321
Credttors.. amounts falllng due within one
year
19
(1,911,834)
(1,320, 900)
Not curront Ilabllltigs
1783,065)
(341,579)
Total assets legs currant liablliti09
2,353,428
2, 743,888
Creditors.. amounts falling due after more
than one year
20
(487,2701
(269,670)
Net assets excludlng penslon asset
1,866,156
2,474,218
Total net as$ots
1,866,156
2,474,218
Page 21

SKILLS AND EDUCATION GROUP
(A Company Llmltad by Guarantee)
REGISTERED NUMBER: 02640936
CONSOUDATED BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
2024
2023
Note
Charity funds
Restricted funds
Unrestricted funds
21
21
2.555,049
4. 794,852
Total funds
2,555,049
4, 794,852
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on
and signed on their behalf by:
J Smith
(Chair of Trustees)
The notes on pages 24 to 50 form part of these financial ststements.
Page 20

SKILLS AND EDUCATION GROUP
(A Company Limltsd by Guarantso)
REGISTERED NUMBER: 02640936
CONSOLIDATED BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Flxed assets
Intangible assets
Tangible assets
Investments
14
15
16
1,934,282
1,887,697
1,577,582
1,889,280
351,947
3,821,979
3,818,809
Current a$80ts
Stocks
Debtors
Cash at bank and in hand
17
18
29,573
1,355,707
260.875
113,900
1,222, 129
1,273,878
1.646,155
2,609,907
Creditors.. amounts falling due within one
year
19
(1,825,816)
(1,267, 194)
Net currnnt Ilabllltlos l assots
(179,660)
1,342, 713
Total a880ts loss current liabilitlas
3,642,319
5, 161,522
Creditors.. amounts falllng due after more
than one year
20
(487,270
(269,670)
Not assets excludlng pension Ilablllty
Defined benefit pension scheme liabilty
3,155,049
(600,0001
4,891,852
(97,000)
Totsl net assets
2,555,049
4, 794,852
Page 19

SKILLS AND EDUCATION GROUP
IA Company Limlted by Guarantaa)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
Unre5trlcted
funds
2024
Total
fund9
2024
Total
funds
2023
Note
Income from:
Charitable activities
3.721,001
3,162,229
14,863
72,254
3,721,001
3.162,229
14,863
72,254
3, 151,534
2.876,349
18,282
40,485
Other trading activities
Investments
Other income
Total Income
6,970,347
6,970,347
6,086,650
Expenditure on:
Raising funds
Charitable activities
3,772,107
4,951,466
3,772,107
4.951,466
2, 641,879
3, 253, 186
Total expenditure
8,723,573
8.723,573
5, 895,065
Net lexpendlture)Ilncome before not gainslllos8es)
on Investments
Net gainsl(losses) on investments
N8t movement In funds before other rncognlsed
galnsl(losses)
11.753.226) (1,753,226)
16,423
16,423
191,585
(15,124)
(1,736,803) {1,736.803)
176,461
Other recognlsed galnsl(losses):
Derecognition of pension asset
Aduarial gainsl{losses) on defined benefit pension
scheme liability
70,000
1503.000)
1503,000
{170,000)
Net movement in funds
12,239.803} 12,239,803
76,461
Reconclllation of funds:
Total funds brought forward
Net movement in funds
4,794,852
{2,239,803)
4,794,852
(2,239.803)
4,718,391
76,461
Total funds carrled forward
2.555.049
2,555,049
4, 794,852
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 24 to 50 fomi part of these financial statement5.
Page18

SKILLS AND EDUCATION GROUP
(A Company Llmlted by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
(CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations
to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if
any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they
may involve deliberate concealment or collusion.
A further description of our responsibilities for th8 audit of the financial statements Is located on the Financial
Reporting Council's website at: w￿.frc.or
.ukJauditor
res
onsibilities. This description forms part of our
Auditors, Report.
Uge of our report
This report is made solely to the charitable companys members, a5 a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable companys members those matters we are required to state to them in an Auditors, Report and for no
other purpose. To the fullest extent permitted by law, we do not accept or a55ume responsibility to anyone other
than the charitable company and its member5, as a body, for our audit work, for this report, or for the opinions
we have fomied.
Robert Andorson Bsc FCA Isenlor Statutory Audltor)
for and on behalf of
Streets Audit LLP
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
Date:
Page 17

SKILLS AND EDUCATION GROUP
(A Company Llmltsd by Guarantee
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
(CONTINUED)
Auditors, responsiblllties for the audit of the financial statements
Our objectives are to obtain reasonable assurance about vthether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or In the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these flnancial sL1tements.
Irregularits'es, including fraud, are instances of non-compliance with lavrfs and regulations. We design
procedures In line with our responsibilities, outlined above, to detect material misstatements in respect of
i￿egUlaTI￿.e5, including fraud. The extent to vthlch our procedures are capable of detecting irregularitles,
including fraud is detailed below..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations-
we identified the laws and regulations applicable to the company through discussions with directors and
other management, and from our commerual knowledge and experience of the company and sector
in which it operales.,
we focused on specific laws and regulations which we considered may have a direct material effect
on the financial statements or the operations of the company, including the Companies Act 2006,
Charities Act 2011, Ofqual and Qualifications Wales regulations, Council for the Curriculum,
Examinations & Assessment ICCEA) regulations, employment law, General Data Protection Regulation
(GDPR), Health & Safety and taxation legislation,.
we assessed the extent of compliance wth the laws and regulations identified above through
making enquiries of management; and
identified laws and regulations were communicated within the audit team regularly and the team
remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to materlal mlsstatement, including
obtaining an understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was susceptibility to fraud.
their knowledge of actual, suspected and alleged fraud., and
considering the internal controls in place to mitigate risks of fraud and non-compliance wlth lavts and
regulations.
To address the risk of fraud through management bia3 and override of controls, we:
performed analyts.cal procedure5 to identfy any unusual or unexpected relationships;
tested joumal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in determining the accounting estimates
were indicative of potential bias,. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included. but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation.,
reading the minutes of meetings of those charged with govemance., and
enquiring of management as to actual and potential litigation and daims.
Page 16

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
(CONTINUED
Rosponslbilitles of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustee5 (who are also the directors of
the charrtable company for the purposes of company law) are responsible for the preparation of the ffinancial
statements and for being satisfied that they give a true and fair view, and for such internal control as Ihe
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent
charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concem and using the going concem basis of accounting unless the Trustees either intend to liquidate the
Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Page15

SKILLS AND EDUCATION GROUP
(A Company Limlted by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
{CONTINUED)
Other Infomiatlon
The other information comprises the infomiation included in the Annual Report other than the financial
statements and our Auditors. Report thereon. The Trustees are responsible for the other information contsined
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance
Conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. If, based on the y￿rk VR have performed, we conclude
that there is a material misststement of thls other information, V￿ are required to report that fact.
We have nothlng to report In thls regard.
Oplnlon on other matters prescrlbed by tha Companles Act 2006
In our opinion, based on the V￿rk undertaken in the course of the audit:
the information given in the Trustees. Report for the financial year for ￿lch the financial statements are
prepared is consistent with the financial statements.
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exception
In the Ilght of our knowledge and understanding of the charitsble company and Its environment obtsined in Ihe
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion..
the parent charitable company has not kept adequate and sufficient accounting records, or returns
adequate for our audit have not been received from branches not visited by us., or
the parent charitable company financial statements are not in agreement with the accounting records and
returns., or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Page 14

SKILLS AND EDUCATION GROUP
{A Company Limitsd by Guarant88)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
Opinion
We have audited the financial statements of Skills and Education Group (the 'parent charitable company,) and
tts subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Statement of
Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of
Cash Flows and the related notes, including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the Group's and ofthe parent charitable company's affairs as at 31
August 2024 and of the Group's incoming resources and application of resources, including its income
and expenditure for the year then ended;
have been properly prepared in accordance vlth United Kingdom Generally Accepted Accounting
Practice., and
have been prepared In accordance with the requirements of the Companies Act 2006.
Ba819 for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS {UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance wth the
ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including
the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basls for our opinion.
Conclusions relatlng to golng concern
In auditing the financial statements, we have concluded that the Tru5tees' use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable
ompanls ability to continue as a going concern for a period of at least trNelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the Twstees with respect to going concern are described in the
relevant sections of this report.
Page 13

SKILLS AND EDUCATION GROUP
{A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting pollcies (continued)
2.10 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost indudes all direct costs and an appropriate proportion of
fixed and variable overheads.
2.11 Dobtor8
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due
2.12 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a Short
maturity of three months or less from the date of aGqUi5its-on or opening of the deposit or similar
account.
2.13 Liabilltles
Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or seNices it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a
finance cost.
2.14 Flnanclal Instruments
The Group only has financial assets and financlal liabilities of a klnd that qualify as basic flnanclal
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value wth the exception of bank loans which are
subsequently measured at amortised c05t using the effective interest method.
2.15 Ponsions
A charitable company wthin the group (Skills and Education Group Access) previously contributed
to the West Yorkshire Pension Scheme (WYPS). a defined benefit scheme, at rates set by the
scheme's actuaries. The charity is no longer an active member of the scheme, and therefore
provision for the orphan exit charge from the pension scheme is recogni5ed in these financial
statements.
The charity also contributes to defined contribution schemes for ceriain employees all of which are
separately administered from the charity and the charge recognised in the Ststement of Financial
Activities.
Page 27

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies (contlnued
2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Crltlcal accounting e8tlmates and areas of Judgment
Estimates and judgments are continually evaluated and a￿ based on historical experience and other
factors, Including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estlmates and assumptions:
The Charfty makes estimates and assumptions concerning the fijture. The resulting accounting estlmates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustrnent to the carrying amounts of
assets and liabilsties within the next financial year are discussed below.
The present value of the l+VYPS defined liability depends on a number of factors that are determined on
an actuarial basis using a variety of assumptions. The assumptions used in detennining the net costs or
income for pensions include the discount rate. Any changes in these assumptions Vlill impact the carrying
amount of the liabilty.
Income from charitable activities
Unr8strlcted
funds
2024
Total
funds
2024
Total
funds
2023
Learner recognition
Access to HE
Project. membership and CPD
2,933,668
388,066
399,267
2,933.668
388,066
399,267
2,679,318
252,280
219,936
Total 2024
3,721,001
3,721.001
3. 151,534
Total 2023
3, 151,534
3, 151,534
Page 28

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Income from other trading act5vities
Income from non charltable trading acllvlties
Unre8trlcted
funds
2024
Total
funds
2024
Total
funds
2023
Income from trading subsidiaries
3,162,229
3,162,229
2.876,349
rotal 2023
2, 876,349
2,876,349
Investment Income
Unrn8tricted
funds
2024
Total
funds
2024
Tot81
lunds
2023
Dividends receivable from11sted investments
Interest receivable - local cash
Interest recelvable - other
9,691
2,833
2,339
9,691
2,833
2.339
13,507
4, 775
Total 2024
14,863
14,863
18,282
Total 2023
18,282
18,282
Other incomlng rasourcos
Unrestrlctsd
funds
2024
Totsl
funds
2024
Total
funds
2023
Lettings, admin fees and other income
72,254
72.254
40.485
Total 2023
40,485
40,485
Page 29

SKILLS AND EDUCATION GROUP
(A Company Limlted by Guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Expendlture on raising funds
2024
2023
Cost of sales - BIIAB
Cost of sales- QLS
Administration expenses - BIIAB
Administration expenses - QLS
Depreciation - BIIAB
Salary recharge8- BIIAB
Salary recharges - QLS
449,732
445, 744
8,609
984,055
72,391
1,294
1,066,081
63, 705
1,740,207
1,558
1,580,610
3,772,107
2,641,879
Analysis of exponditure on charltsble actlvltles
Summary by fund typo
Unrestricted
fund•
2024
Total
2024
Total
2023
Learner recognitlon
Access to HE
Project, membership and CPD
3,504,807
746,865
699,794
3,504,807
746,865
699.794
2,734,419
359, 097
159, 670
Totsl 2024
4,951,466
4,951,466
3,253, 186
Total 2023
3, 253, 186
3,253, 186
Page 30

SKILLS AND EDUCATION GROUP
(A Company Llmited by Guarantse
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Analysis of 8xpenditur8 by activities
Activiti
undertaken
directly
2024
Support
costs
Total
fund•
2024
Total
funds
2023
2024
Learner recognition
Access to HE
Project, membership and CPD
1,125,298
280,341
257,239
2,379,511
466,524
442,555
3,504807
746,865
699,794
2,734,419
359,097
159,670
Total 2024
1,662,876
3,288,590
4.951,466
3,253, 186
Total 2023
1,176,433
2,076, 753
3,253, 186
Analysls of dlrect costs
ProJe¢(
rnembfrrship
and CPD
2024
Loamar
recognlllon Acce88 to HE
2024
2024
Total
fund8
2024
Total
funds
2023
Staff costs
Moderator and examiner costs
Centre costs
CPD and prolect expenses
Certificates
QAA registration
Foundation activities
642,967
262,037
24.066
153,953
89,339
92,692
889.612
351,376
24,065
164,547
85.157
37,049
111,070
611,109
306,588
9,653
48,301
64, 245
33,310
103.227
164,547
85,157
37.049
111,070
Total 2024
1,126,296
280,341
257,239
1.662,876
1, 176,433
Total 2023
960,288
159,372
56, 773
1, 176,433
Page 31

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Analysls of oxpondlture by activities (contlnued
Analysis of support costs
Project,
membership
and CPD
2024
Learner
recognlllon Ac¢es¥ to HE
2024
2024
Total
funds
2024
Total
funds
2023
Staff costs
Depreciation
Bad debt
Other staff Costs
Qualification development
Administration
Communications and marketing
Donations
Premises
ICT costs
Professional fees
Bank charges
Irrecoverable VAT
Govemance costs
964,451
236,769
27,979
302,358
80,157
94,888
131,261
58,721
29,789
201,622
169,033
7,818
50,208
24,457
230,930
49,867
52,834
21,933
139,038
72,959
1,334,419
369,595
80.813
349.033
87,033
104,351
169,619
67,499
48,504
243.668
199,254
9,827
202,579
32,396
913,664
227,864
65
267,382
28,835
85,830
136,353
18,176
102,699
159,367
43,389
15,478
65,015
12,636
24,742
6,876
1,301
17,055
8,778
1,291
5,331
12,805
1,641
147,815
2,923
8,182
21,303
17,424
36,715
17,416
368
4,556
5.016
Total 2024
2,379,511
466,524
442,555
3,288,S90
2, 076, 753
Tot812023
1,774, 131
199, 725
102,897
2, 076. 753
11. Auditors. remuneratlon
2024
2023
Fees payable to the Charitys auditor for the audit of the Charitls annual
accounts
24,000
24,000
Page 32

SKILLS AND EDUCATION GROUP
{A Company Llmlted by Guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
12. Stsff costs
Group - 2024 Group 2023
Wage5 and Salaries costs
Social security costs
Pension costs
3,160,437
322.837
243.408
2, 688,826
249,269
265,634
3,726,682
3.203, 729
During the year a total of £50,963 (2023.. £Nil) vms paid in respect of contractual termination and
redundancy payments, relating to 8 employees (2023: Nill.
During the year a further £2,506 (2023: £2,506) pald in respect of contractual temiinatlon payments
which represent an ongoing annual cost to the parent charitable company In perpetuity until the death of
individual's covered within this payment. This arrangement was in place prior to any of the current
trustees serving on the board.
The average number of persons employed by the charltable company during the year was as foll0v￿.
Group - 2024 Group - 2023
Charitable activities
Administration
Management
60
23
13
53
12
13
96
78
The number of employees whose employee benefit5 (excluding employer pension costs) exceeded
£60,000 was..
2024
2023
In the band £60,001- £70,000
In the band £70,001- £80,000
In the band £90,001- £100,000
In the band £140,001- £150,000
In the band £150,001- £160,000
The total remuneration and benefits received by key management personnel was £377,684 (2023:
£377,922). The trustees consider the key management personnel to be the Chief Executive Officer,
Deputy Chief Executive Officer and Chief Operating Officer.
Page 33

SKILLS AND EDUCATION GROUP
(A Company Llmited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
13. Trustees. rnmunoration and expenses
During the year, one or more Trustees has been paid remuneration or has receNed other beneffts from
an employment Viith the Charity for their role as Chief Executive Officer. The value of Trustees,
remuneration and other benefits was as follo￿.
2024
2023
P A Eeles
Remuneration
Penslon contributions paid
157,357
30.391
144,003
29,543
During the year, retirement beneffts V￿re accruing to 1 Trustees (2023 - 1) in respect of defined benefit
pension schemes.
During the year ended 31 August 2024, travel and accomodatlon expenses totalling £1,657 were
reimbursed or paid directly to 2 Trustee5 of the charitable group (2023 - £3, 721 to 11 Tniste8s).
Included in the above were travel, accomodation and subsistence expenses reimbursed to 2 trustees of
the parent charitable company totalling £1,657 (2023.. £2,151 to 5 Trustees).
Page 34

SKILLS AND EDUCATION GROUP
(A Company Llmltsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14. Intanglble as59ts
Group
Bespoke
software
Developrn
Wabslte
Goodwlll
Total
Cost
At 1 September 2023
Addits"ons
Disposals
406,441
183,975
(113,473)
40,214
17,863
374,993
155,478
1,232,970
376,232
2,054,618
733,548
(113,4731
At 31 August 2024
476.943
58,077
630,471
1,609,202
2,674,693
Amortlgatlon
At 1 September 2023
Charge for the year
18,070
84.442
10,173
9,840
243,435
62,993
205,358
123,297
477.036
280,572
At 31 August 2024
85,315
20,013
306,428
328,655
740,411
Net book value
At 31 August 2024
391,628
38,064
224,043
1,280,647
1,934,282
At 31 August 2023
388,371
30,041
131,558
1,027,612
1,577,582
Page 35

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14. Intangible assets (conllnued)
Charfty
Bespoke
8oftware
W•bslt•
Totsl
Co•t
At 1 September 2023
Addltions
17,189
1,178
189.084
83,377
206,273
84,555
At 31 August 2024
18.367
272,461
290,828
Amortlsation
At 1 September 2023
Charge for the year
1.284
3,555
108,376
38.032
109,660
41,587
At 31 August 2024
4,839
146.408
161,247
Net book valua
At 31 August 2024
13.528
126,053
139,581
At 31 August 2023
15,905
80, 708
96,613
Page 36

SKILLS AND EDUCATION GROUP
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
15. Tangible fixed assets
Group
Flxtures and
Ilttlngs
Offlco
equlpment
Computsr
equlpment
Prefab'd
buildlng
Property
Totsl
Cost or valuatlon
At 1 September 2023 2,596.200
Additions
473,668
63,319
12.354
475
317,222
41,416
15,842 3,415.286
105,210
At 31 August 2024
2,596,200
536,987
12,829
358.638
15,842 3,520,496
Depreciation
At 1 September 2023 1,047,977
Charge for the year
39,886
234,753
31,583
6.527
1.558
220,907
33.766
15,842 1,526,006
106,793
At 31 August 2024
1,087,863
266,336
8,085
254,673
15,842 1,632,799
Net book value
At 31 August 2024
1,508,337
270.651
4,744
103,965
1,887,697
At 31 August 2023
1, 548, 223
238,915
5,827
96,315
1,889,280
Page 37

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
15. Tangible fixed assets (continued)
Charity
Freehold Flxlures and
property
rittings
Computer
oqulprnent
Prefab'd
buildlng
Total
Cost or valuatlon
At 1 September 2023
Additions
1,270,284
447,936
63,319
242,964
40,941
15,842
1,977,026
104.260
At 31 August 2024
1,270,284
511,265
283,905
15,842
2,081.286
Depreclatlon
At 1 September 2023
Charge for the year
329,391
23,436
209,334
31,527
157,917
29,865
15,842
712.484
84.828
At 31 August 2024
362,827
240,861
187,782
15,842
797,312
Net book valua
At 31 August 2024
917,457
270,394
96.123
1,283,974
At 31 August 2023
940,893
238, 602
85.047
1,264, 542
Group
Property fixed assets conslst of freehold property V•ith a net book value of £917,457 (2023: £940,893)
and long-term leasehold property wtth a net book value of £590,88012023'. £607,330).
Page 38

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
16.
Fixed asset Investments
Llsled
Invastments
At 1 September 2023
Additions
Disposals
351,947
31,849
(383,796)
Net I￿0k value
At 31 August 2023
351,947
Inve•tments
In subsldlary
companles
Ll•ted
Investments
Totsl
Charity
Cost or valuatlon
At 1 September 2023
Addttions
Disposals
1,372,365
376,232
(35,661
351,947
31,849
1383,796)
1,724,312
408,081
(419N57)
At 31 August 2024
1.712,936
1,712,936
Net book valu•
At 31 August 2024
1.712,936
1,712,936
At 31 August 2023
1,372,365
351,947
1,724,312
Fixed asset investment additions relate to additional costs arlsing from the acquisition of BIIAB
Qualifications Limited.
Page 39

Elc TJi>cTSDcoQ
<ffj < a)ffj<o>(u£Q
OCL
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>ztt>ztÉ>z tt>z

r•OO
r*f
¢7•r
tr t
rfj

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantse
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
17. Stocks
Group
2024
Group
2023
Finished good5 and goods for resale
29,573
113,900
Dabtors
Group
2024
Gmup
2023
Charfty
2024
Chanly
2023
Du• withln one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Called up share capital not paid
Prepayments and accrued income
1,034,990
681,458
29,610
938,564
614
26,345
569,051
139,259
614
140,237
320.101
400.432
154,522
200.412
1.355.707
1.222, 129
1,123,310
935,067
Page 42

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
19.
Credltors: Amounts falllng due wlthln one year
Group
2024
Group
2023
Charlty
2024
Chanty
2023
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred Income
605,581
558,964
158,992
1,432,955
134,349
124.355
61,183
114,442
695,887
64,591
425,530
20,450
540,109
135,685
544,440
206,484
427,073
74, 673
1,825,815
1,267, 194
1,911,834
1,320,900
Group
2024
Group
2023
Charlty
2024
Charity
2023
Deferred income at 1 September 2023
Resources deferred during the year
Amounts released from previous periods
30.500
464.032
(30,500)
75,388
30, 500
(75,388)
3,215
38,957
(3,215)
46,580
3,215
(46,580)
464,032
30, 500
38,957
3,215
Deferred income represents monles recelved In advance for leamer registrations, memberships, annual
centre fees, services and projeds.
20. Creditors: Amounts falllng due after more than one year
Group
2024
Group
2023
Charlty
2024
Chanly
2023
other creditors
487.270
269,670
487,270
269,670
Page 43

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
21. Ststement of funds
Statement of funds - current year
Balance at 1
Sfrptember
2023
Galnsl Balance at 31
{LossosI August 2024
Income Expondlture
Unrestrlctsd funds
General funds - charitable
company
Skills and Education Group
Awards- post acquisition
reseNes
2.268,861
445,569 (1,274A59)
16,423
1.456,394
1,511,250
2,903,268 (2,764,711)
1,649.807
Skills and Educatlon Group
Access
BIIAB Qualifications Limited
post aqcuisition reserves
Skills and Education Group
Acces5 - designated pension
reseNe
766,601
464,732
{860,944
360,389
293.788
3,166,778 13,772,107
(311,541)
{97,000}
(503,000) (600,000
Quality Licence Scheme
Limited
51.352
(51,352)
4,794,852
6,970,347
18,723,573)
(486,577) 2,555,049
Page 44

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
21.
statement of funds (continued)
Statsment of funds - prlor year
Balance at
I September
2022
Balance at
31 August
2023
Gains/
(Losses)
Income Expenditure
Unrestricted funds
General funds - charitable
company
Skills and Educatlon Group
Awards - post acquisition
reserves
1, 749, 791
920,053
(385,859)
(15. 124) 2,268,861
1,660,918
1,996, 764 (2,146,432)
1,511,250
Skllls and Educatlon Group
Access
BIIAB Quallfications Limited -
post aqcuisition reserves
Skills and Education Group
Access- designated pension
reserve
920, 605
293,484
(447,488)
766,601
254, 685
2, 680,292 (2,641, 189)
293, 788
3.000
(100.000)
(97,000)
Quality Licence Scheme
Limited
132,392
196,057
(277,097)
51,352
4,718,391
6,086, 650 (5,895,065) (115,124)
4, 794, 852
Page 45

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantso)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
22. Summary of funds
Summary of funds - current year
Balance at 1
September
2023
Gainsl Balance at 31
(Losses) August 2024
Incom• Expendlturo
General funds
4,794,852
6,970.347
(8.723,573)
(486,5771 2,555,049
Summary of funds - prlor y8ar
B81ance at
I September
2022
Balance 8t
31 August
2023
G8insl
(Losses)
Income Expendlture
General funds
4, 718,391
6,086,650 (5,895,065) (115,124)
4, 794, 852
23. Anatysls of net assets between fundg
Analysis of net assets b8twe8n funds - current period
Unre8tr1cled
nds
2024
Total
fund•
2024
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
1,887,697
1,887,697
1,934,282
1.934.282
1,846,155
1,646.155
(2,135,815) (2,135,815)
(177,270) 1177.270)
(600,000) (600,000)
Total
2,555,049
2,555,049
Page 46

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
23. Analysls of net assets between funds (continued)
Analysls of net assets b8tween funds - prlor period
Unrestrict8d
funds
2023
Restricted
funds
2023
Total
funds
2023
Tanglble fixed assets
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due withln one year
Creditors due in more than one year
Provisions for liabilities and charges
1,889,280
1,577,582
351,947
2,609,907
(1,267, 194)
(269, 670)
(97,000)
1, 889,280
1.577,582
351,947
2, 609,907
(1,267, 194)
(269,670)
(97,000)
4, 794,852
4, 794, 852
Total
24. Reconclliatlon of net movement In funds to net cash flow from opèratlng activltles
Group
2024
Group
2023
Net incomelexpenditure for the period (as per Statement of Flnancial
Actlvlties)
(1,736,803)
176,461
Adjustments for:
Depreciation charges
Amortisation charge5
Gainsl(losses) on investments
Dividends, interests and rents from investments
Loss on the disposal of fixed asset5
Decreasel(increase) in stocks
Decreasel(increase) in debtors
Increa5el(decrease) in creditors
Defined benefft pension scheme FRS102 costs
106,793
280,572
(16,423)
(14,863)
112,699
84,327
(133,578)
776,221
93, 123
151,899
15,124
(18,282)
(73, 204)
184,091
(67,677)
(3,000)
Net cash provided byl(used In) operating activitie5
(541.055)
458,535
Page 47

SKILLS AND EDUCATION GROUP
(A Company Llmitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
25. Analysls of cash and cash equivalents
Group
2024
Group
2023
Cash in hand
260,875
1,273,878
Total cash and cash equlvalents
260,875
1,273,878
26. Analysis of changes in net debt
At1
September
2023
At 31 August
2024
Cash flow8
Cash at bank and in hand
1,273,878 (1,013,003>
260,875
1,273,878 (1,013,003)
260,875
27. Pen81on commitments
2024
2023
Pension buyout liability
600,000
97,000
600,000
97,000
West Yorkshire Penslon Fund
Skills and Education Group Access participated in the West Yorkshire Fund IWYPF), a multf-employer
defined benefit scheme, until the final member of the scheme ceased in the period to 31 August 2023.
Discussions wth West Yorkshire Pension Fund Vlith regards to the potential buyout value are ongoing,
with the most recent available valuation of the buyout value provided by WYPF being £600,000 for an
orphan exit. This valuation is dated 31 March 2024, and is at present the most reliable valuation available
to Trustees for the potential buyout liability.
In addition to negotiations with WYPF, the Trustees are in discussion the pension scheme guarantors, to
determine whether some or all ofthe liability could be subsumed by the remaining 4 guarantors who are
adively partiGipating in this process.
The buyout value is included in these accounts at 31 August 2024 as the most reliable estimate of the
liability to the charity at the time af signing off the accounts. It is possible that the liability will be much
lower than £600,000, or no liability at all if this were to be subsumed by the guarantors.
Page 48

SKILLS AND EDUCATION GROUP
IA Company Umlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Operatlng lease commitments
The Group and the Charity had no commitrnents under non-cancellable operating leases at 31 August
2024.
29.
Relatod party transactions
Skllls and Educatlon Group Awards
During the year the charity recharged vRges and other costs to its subsidiary, totalling £1,275,485 (2023:
£1,228,961). At the year end an amount of £1,432,955 (2022: £695,888) was owed by Skills and
Education Group to Skills and Educab"on Group Awards.
Skllls and Educatlon Group Access
During the year the charity recharged wages and other costs to its subsidiary, totalling £414,970 (2023..
£125,016). At the year end an amount of £314,706 was owed by Ski115 and Educalion Group Access to
Skills and Education Group (2023- £3,876).
BIIAB Qualifications Limited
During the year the charity recharged wages and other costs to its subsidiary, totalling £1,580,810 (2023..
£1,142,694). At the year end an amount of £623,858 (2023- £431,947) was owed by BIIAB Qualrfications
Limited to Skills and Education Group.
A Stott Advisory Services
A G Stott, a trustee during the year, provlded additional advlsory seniices to the Skills and Education
Group during the year. Payments of £15,000 (2023.. £Nil) were made during the year in relation to these
seNi¢es, wth no amounts outstanding at the year end (2023.. £Nill.
Yultan Y Mellor
Y Y Mellor, a trustee during the year, provided additional consultancy senlices to the Skills and Education
Group during the year. Payments of £23,798 (2023: £Nil) were made during the year in relation to these
Services, with no amounts outstanding at the year end (2023.. £Nil).
Leicester College
V Hancock, a trustee until 18 October 2024, is also CEO and Principal of Leicester College. During the
year income of £7,530 (2023.. £4,875) was received from the College for the provision of charitable
services. There were amounts outstanding at the year end of £2,860 {2023= £25).
York College
L Probert, a trustee until 20 October 2023. is also CEO and Principal of York College. During the year
income of £10,726 (2023: £5,500) was received from the College for the provision of charitable services.
There were amounts outstanding at the year end of £Nil (2023.. £Nil).
Nottingham College
J Smith, a trustee, is also CEO and PTinapal of Nottingham College. During the year income of £18,360
(2023.. £4,545) was received from the College for the provision of charitable services. There are amounts
outstanding at the year end of £3,000 (2023.. £2401.
Buxton and Leek College
J Tildsley, a trustee unts-123 April 2024. is also a Principal of Buxton and Leek College. During the year
income of £1,920 {2023.' £3,800) was received from the College for the provision of charitable services.
There were amounts outstanding at the year end of £960 (2023.. £Nil).
Page 49

SKILLS AND EDUCATION GROUP
(A Company Limltsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
29. Related party transactions (contlnued)
Burton and South Derbyshlrn College
J Beaty, a trustee until 10 July 2024, is also a Principal of Burton and South Derbyshire College. During
the year income of £2,320 (2023- £37) was received from the College for the provision of charitable
services, and expenditure of £3,991 (2023.. £210) incurred for the same purpose. There are amounts
outstanding at the year end of £960 (2023: £Nil).
Action Houslng and Support
A G Stott, a trustee during the year, is also CEO of Action Housing and Support. During the year income
of £6,314 (2023.. £8,281) was received for the provision of charitable services. There are amounts
outstanding at the year end of £Nil. (2023: £727).
Bedford Collage
Y Koursis, a trustee, is also a director of Bedford College. During the year income of £960 (2023- £Nil)
was received for the provision of charitable service8, and expenditure of £4,000 (2023: £Nil) incurred for
the same purpose. There are amounts outstanding at the year end of £960 (2023.. £Nil).
Inspire Educatlon Group
R Nicholls, a trustee, is also CEO of Inspire Education Group. During the year income of £13,590 (2023..
£Nil) was received for the provision of charitable services. There are amount5 outstanding at the year end
of £2,060 (2023.. £Nil).
Page 50

SKILLS AND EDUCATION GROUP
IA Company Umited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies Icontlnued)
2.7 Intanglble assots and amortlsatlon
Intangible assets costing £500 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Intsngible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisation and any accumulated irnpairment
losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on
a straight-line basis over its expected useful life.
Amortisation is provided on the following bases..
Development expenditure
Website
Bespoke software
Goodwill
not depreclated
25 % straight line
20 % straight line
10 UA straight line
2.8 Tangible fixed assets and deprgclatlon
Tangible fixed assets costing £500 or more are capitslised and recognised when future economlc
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model,
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condltlon should be Included In the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the 5traight-line method.
Depreciation is provided on the following bases..
Property
Fixtures and ffttings
Office equipment
Computer equipment
other fixed assets
1.15 % straight line
10_25¢hl straight line
20.330A straight line
20.330￿ straight line
5-10% straight line
2.9 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the
value cannot be measured reliably in which case it is measured at cost les5 impaimient. Investment
gains and losses, vthether realised or unrealised, are combined and presented as 'Gainsl(Losses)
on investments. in the Consolidated SLitement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impaimient.
Page 26

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantea)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policie8 Icontlnued)
2.3 Income
All Income Is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tsx recoverable in relation to Investrnent income is recognised at the Ilme the Investment
income is receivable.
Other Income is recognised in the perlod In whlch it is receivable and to the extent the goods have
been provided or on completion of the seTVlCe.
2A Expenditure
Expenditure is recogni5ed 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 activty are made up of the total of direct cost5 and shared costs,
inciuding support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which Gontribute to more than one activity
and support costs which are not attributable to a single activity are apportioned between those
activits'es on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable actlvities is incurred on directly undertaking the activities which further the
Group's objectives, as well as any associated support costs.
Ail expenditure is incluslve of irrecoverable VAT.
2.5 Research and d•v•lopmont
Development costs are capitslised withln Intangible assets where they can be identlfied with
specific produd or project anticipated to produrk future benefits, and are amortised on the straight
line basis over the anticipated life of the benefits arising from the completed product or project.
Deferred research and development costs are reviewed annually, and where future benefits are
deemed to have ceased or to be in doubt, the balance of any related research and development is
written off to the Consolidated Statement of Financial Activities.
2.6 Interest receivable
Interest on funds held on deposit is included vthen receivable and the amount can be measured
reliably by the Group- this is normally upon notification of the interest paid or payable by the
institution y￿th whom the funds are deposited.
Page 25

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
General Infomiation
The Charity is a company limited by guarantee, incorporated in England and Wales, and consequently
does not have share capital. It's aim is the advancement of the education and training of young people
and adults. Each of the Trustees is liable to contribute to an amount not exceeding £1 towards the assets
of the parent charitable company in the event of liquidation.
The financial statements are prepared in pound sterling which is the functional cU￿encY of the entity.
Accounting policles
2.1 Basis of preparatlon of financlal Statements
The financial statements have been prepared in accordance ￿th the Charities SORP (FRS 102)
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 October 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companie5 Act 2006.
Skills and Education Group meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet
consolidate the financial statements of the Charity and its subsidiary undertaking$. The results of the
subsidiaries are consolidated on a line by line basis.
The Charty has taken advantage of the exemptlon allowed under section 408 of the Companies Act
2006 and has not presented its own Statement of Financial Activities in these financial statements.
2.2 Golng concem
The financial statements have been prepared on a going concern basis. At the year end, the Group
reported net current liabilities of £179,660, which necessitated a detailed assessment by the
Trustees with external support a5 to whether the Group and its subsidiary entits.es can continue to
operate for the foreseeable future.
After making appropriate enquiries, the Trustees have a reasonable expectation that the Group ha5
adequate resources to continue in operational existence for the foreseeable future. While the past
year has presented significant challenges which did give rise to material uncertainties, the
organisation is showing positive signs of recovery. Under new leadership, a number of strategic
operational and financial decisions have been taken to course-correct and stsbilise the Group's
activities. The organisation is well posits-oned, with sufficient resources and a clear strategic plan, to
mitigate and navigate these challenges.
The Trustees have reviewed the Group's financial position, including the level of funds held, post
year-end results, and the projected income and expenditure for a period of at least 12 months from
the date of approving these financial statements. Based on these forecasts, which indicate a retum
to positive EBITDA, the Trustees are confident that the Group remains a going concem.
For this reason, the Trustees continue to adopt the going con￿rn basis in preparing the financial
statements.
Page 24

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantse)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Cash flows from operating actlvltle8
Net cash used in operating activities
(541,055)
458.535
Cash flo￿ from Investlng actlviti•s
Dividends, interests and rents from investments
Purchase of intangible assets
Purchase of tangible fixed assets
Proceed5 from sale of investments
Purchase of investments
14,863
18,282
1733,548) (379,665)
(105,210) (269,921)
383,796
76,518
(31,849)
(78, 700)
Net cash used in investing actlvltlos
(471,948) 1633A86)
Cash flows from financing actlvltles
Net cash provlded by flnancing actlvities
Change In cash and cash oqulvalonts In the year
Cash and cash equivalents at the beginning ofthe year
11,013,003) 1174,951}
1,273,878
1,448,829
Cash and cash equlvalents at the end of the year
260,875
1,273,878
The notes on pages 24 to 50 form part of these financial statements
Page 23

SKILLS AND EDUCATION GROUP
IA Company Limitsd by Guarantee)
REGISTERED NUMBER: 02640936
CHARITY BALANCE SHEET ICONTINUED)
AS AT 31 AUGUST 2024
2024
2023
Note
Charlty funds
Restricted fvnds
Unrestricted funds
21
21
1,866,156
2,474,218
Total funds
1,866,156
2,474,218
The Charitys net movement in funds for the year was £(608,062) (2023 - £611,292).
The Trustees acknowledge their responsibilities lor complying with the requirements of the Act with respect to
accounting records and preparation of financial ststements.
The financial statements were approved and authorised for issue by the Trustees on
and signed on their behalf by..
J Smlth
(Chair of Trustees)
The notss on pages 24 to 50 fomi part of these financial statements.
Page 22

SKILLS AND EDUCATION GROUP
(A Company Limitad by Guarantea)
REGISTERED NUMBER: 02640936
CHARITY BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
Flxed assets
Intangible assets
Tangible assets
Investments
14
15
16
139,581
1.283,974
1,712,936
96,613
1,264,542
1,724,312
3.136,491
3,085,467
Current o580ts
Debtors
Cash at bank and in hand
18
1,123,310
5,459
935,067
44,254
1.128,769
979,321
Credttors.. amounts falllng due within one
year
19
(1,911,834)
(1,320, 900)
Not curront Ilabllltigs
1783,065)
(341,579)
Total assets legs currant liablliti09
2,353,428
2, 743,888
Creditors.. amounts falling due after more
than one year
20
(487,2701
(269,670)
Net assets excludlng penslon asset
1,866,156
2,474,218
Total net as$ots
1,866,156
2,474,218
Page 21

SKILLS AND EDUCATION GROUP
(A Company Llmltad by Guarantee)
REGISTERED NUMBER: 02640936
CONSOUDATED BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
2024
2023
Note
Charity funds
Restricted funds
Unrestricted funds
21
21
2.555,049
4. 794,852
Total funds
2,555,049
4, 794,852
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on
and signed on their behalf by:
J Smith
(Chair of Trustees)
The notes on pages 24 to 50 form part of these financial ststements.
Page 20

SKILLS AND EDUCATION GROUP
(A Company Limltsd by Guarantso)
REGISTERED NUMBER: 02640936
CONSOLIDATED BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Flxed assets
Intangible assets
Tangible assets
Investments
14
15
16
1,934,282
1,887,697
1,577,582
1,889,280
351,947
3,821,979
3,818,809
Current a$80ts
Stocks
Debtors
Cash at bank and in hand
17
18
29,573
1,355,707
260.875
113,900
1,222, 129
1,273,878
1.646,155
2,609,907
Creditors.. amounts falling due within one
year
19
(1,825,816)
(1,267, 194)
Net currnnt Ilabllltlos l assots
(179,660)
1,342, 713
Total a880ts loss current liabilitlas
3,642,319
5, 161,522
Creditors.. amounts falllng due after more
than one year
20
(487,270
(269,670)
Not assets excludlng pension Ilablllty
Defined benefit pension scheme liabilty
3,155,049
(600,0001
4,891,852
(97,000)
Totsl net assets
2,555,049
4, 794,852
Page 19

SKILLS AND EDUCATION GROUP
IA Company Limlted by Guarantaa)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
Unre5trlcted
funds
2024
Total
fund9
2024
Total
funds
2023
Note
Income from:
Charitable activities
3.721,001
3,162,229
14,863
72,254
3,721,001
3.162,229
14,863
72,254
3, 151,534
2.876,349
18,282
40,485
Other trading activities
Investments
Other income
Total Income
6,970,347
6,970,347
6,086,650
Expenditure on:
Raising funds
Charitable activities
3,772,107
4,951,466
3,772,107
4.951,466
2, 641,879
3, 253, 186
Total expenditure
8,723,573
8.723,573
5, 895,065
Net lexpendlture)Ilncome before not gainslllos8es)
on Investments
Net gainsl(losses) on investments
N8t movement In funds before other rncognlsed
galnsl(losses)
11.753.226) (1,753,226)
16,423
16,423
191,585
(15,124)
(1,736,803) {1,736.803)
176,461
Other recognlsed galnsl(losses):
Derecognition of pension asset
Aduarial gainsl{losses) on defined benefit pension
scheme liability
70,000
1503.000)
1503,000
{170,000)
Net movement in funds
12,239.803} 12,239,803
76,461
Reconclllation of funds:
Total funds brought forward
Net movement in funds
4,794,852
{2,239,803)
4,794,852
(2,239.803)
4,718,391
76,461
Total funds carrled forward
2.555.049
2,555,049
4, 794,852
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 24 to 50 fomi part of these financial statement5.
Page18

SKILLS AND EDUCATION GROUP
(A Company Llmlted by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
(CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations
to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if
any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they
may involve deliberate concealment or collusion.
A further description of our responsibilities for th8 audit of the financial statements Is located on the Financial
Reporting Council's website at: w￿.frc.or
.ukJauditor
res
onsibilities. This description forms part of our
Auditors, Report.
Uge of our report
This report is made solely to the charitable companys members, a5 a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable companys members those matters we are required to state to them in an Auditors, Report and for no
other purpose. To the fullest extent permitted by law, we do not accept or a55ume responsibility to anyone other
than the charitable company and its member5, as a body, for our audit work, for this report, or for the opinions
we have fomied.
Robert Andorson Bsc FCA Isenlor Statutory Audltor)
for and on behalf of
Streets Audit LLP
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
Date:
Page 17

SKILLS AND EDUCATION GROUP
(A Company Llmltsd by Guarantee
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
(CONTINUED)
Auditors, responsiblllties for the audit of the financial statements
Our objectives are to obtain reasonable assurance about vthether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or In the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these flnancial sL1tements.
Irregularits'es, including fraud, are instances of non-compliance with lavrfs and regulations. We design
procedures In line with our responsibilities, outlined above, to detect material misstatements in respect of
i￿egUlaTI￿.e5, including fraud. The extent to vthlch our procedures are capable of detecting irregularitles,
including fraud is detailed below..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations-
we identified the laws and regulations applicable to the company through discussions with directors and
other management, and from our commerual knowledge and experience of the company and sector
in which it operales.,
we focused on specific laws and regulations which we considered may have a direct material effect
on the financial statements or the operations of the company, including the Companies Act 2006,
Charities Act 2011, Ofqual and Qualifications Wales regulations, Council for the Curriculum,
Examinations & Assessment ICCEA) regulations, employment law, General Data Protection Regulation
(GDPR), Health & Safety and taxation legislation,.
we assessed the extent of compliance wth the laws and regulations identified above through
making enquiries of management; and
identified laws and regulations were communicated within the audit team regularly and the team
remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to materlal mlsstatement, including
obtaining an understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was susceptibility to fraud.
their knowledge of actual, suspected and alleged fraud., and
considering the internal controls in place to mitigate risks of fraud and non-compliance wlth lavts and
regulations.
To address the risk of fraud through management bia3 and override of controls, we:
performed analyts.cal procedure5 to identfy any unusual or unexpected relationships;
tested joumal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in determining the accounting estimates
were indicative of potential bias,. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included. but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation.,
reading the minutes of meetings of those charged with govemance., and
enquiring of management as to actual and potential litigation and daims.
Page 16

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
(CONTINUED
Rosponslbilitles of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustee5 (who are also the directors of
the charrtable company for the purposes of company law) are responsible for the preparation of the ffinancial
statements and for being satisfied that they give a true and fair view, and for such internal control as Ihe
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent
charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concem and using the going concem basis of accounting unless the Trustees either intend to liquidate the
Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Page15

SKILLS AND EDUCATION GROUP
(A Company Limlted by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
{CONTINUED)
Other Infomiatlon
The other information comprises the infomiation included in the Annual Report other than the financial
statements and our Auditors. Report thereon. The Trustees are responsible for the other information contsined
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance
Conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. If, based on the y￿rk VR have performed, we conclude
that there is a material misststement of thls other information, V￿ are required to report that fact.
We have nothlng to report In thls regard.
Oplnlon on other matters prescrlbed by tha Companles Act 2006
In our opinion, based on the V￿rk undertaken in the course of the audit:
the information given in the Trustees. Report for the financial year for ￿lch the financial statements are
prepared is consistent with the financial statements.
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exception
In the Ilght of our knowledge and understanding of the charitsble company and Its environment obtsined in Ihe
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion..
the parent charitable company has not kept adequate and sufficient accounting records, or returns
adequate for our audit have not been received from branches not visited by us., or
the parent charitable company financial statements are not in agreement with the accounting records and
returns., or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Page 14

SKILLS AND EDUCATION GROUP
{A Company Limitsd by Guarant88)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP
Opinion
We have audited the financial statements of Skills and Education Group (the 'parent charitable company,) and
tts subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Statement of
Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of
Cash Flows and the related notes, including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the Group's and ofthe parent charitable company's affairs as at 31
August 2024 and of the Group's incoming resources and application of resources, including its income
and expenditure for the year then ended;
have been properly prepared in accordance vlth United Kingdom Generally Accepted Accounting
Practice., and
have been prepared In accordance with the requirements of the Companies Act 2006.
Ba819 for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS {UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance wth the
ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including
the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basls for our opinion.
Conclusions relatlng to golng concern
In auditing the financial statements, we have concluded that the Tru5tees' use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable
ompanls ability to continue as a going concern for a period of at least trNelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the Twstees with respect to going concern are described in the
relevant sections of this report.
Page 13

SKILLS AND EDUCATION GROUP
{A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting pollcies (continued)
2.10 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost indudes all direct costs and an appropriate proportion of
fixed and variable overheads.
2.11 Dobtor8
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due
2.12 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a Short
maturity of three months or less from the date of aGqUi5its-on or opening of the deposit or similar
account.
2.13 Liabilltles
Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or seNices it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a
finance cost.
2.14 Flnanclal Instruments
The Group only has financial assets and financlal liabilities of a klnd that qualify as basic flnanclal
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value wth the exception of bank loans which are
subsequently measured at amortised c05t using the effective interest method.
2.15 Ponsions
A charitable company wthin the group (Skills and Education Group Access) previously contributed
to the West Yorkshire Pension Scheme (WYPS). a defined benefit scheme, at rates set by the
scheme's actuaries. The charity is no longer an active member of the scheme, and therefore
provision for the orphan exit charge from the pension scheme is recogni5ed in these financial
statements.
The charity also contributes to defined contribution schemes for ceriain employees all of which are
separately administered from the charity and the charge recognised in the Ststement of Financial
Activities.
Page 27

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies (contlnued
2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Crltlcal accounting e8tlmates and areas of Judgment
Estimates and judgments are continually evaluated and a￿ based on historical experience and other
factors, Including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estlmates and assumptions:
The Charfty makes estimates and assumptions concerning the fijture. The resulting accounting estlmates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustrnent to the carrying amounts of
assets and liabilsties within the next financial year are discussed below.
The present value of the l+VYPS defined liability depends on a number of factors that are determined on
an actuarial basis using a variety of assumptions. The assumptions used in detennining the net costs or
income for pensions include the discount rate. Any changes in these assumptions Vlill impact the carrying
amount of the liabilty.
Income from charitable activities
Unr8strlcted
funds
2024
Total
funds
2024
Total
funds
2023
Learner recognition
Access to HE
Project. membership and CPD
2,933,668
388,066
399,267
2,933.668
388,066
399,267
2,679,318
252,280
219,936
Total 2024
3,721,001
3,721.001
3. 151,534
Total 2023
3, 151,534
3, 151,534
Page 28

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Income from other trading act5vities
Income from non charltable trading acllvlties
Unre8trlcted
funds
2024
Total
funds
2024
Total
funds
2023
Income from trading subsidiaries
3,162,229
3,162,229
2.876,349
rotal 2023
2, 876,349
2,876,349
Investment Income
Unrn8tricted
funds
2024
Total
funds
2024
Tot81
lunds
2023
Dividends receivable from11sted investments
Interest receivable - local cash
Interest recelvable - other
9,691
2,833
2,339
9,691
2,833
2.339
13,507
4, 775
Total 2024
14,863
14,863
18,282
Total 2023
18,282
18,282
Other incomlng rasourcos
Unrestrlctsd
funds
2024
Totsl
funds
2024
Total
funds
2023
Lettings, admin fees and other income
72,254
72.254
40.485
Total 2023
40,485
40,485
Page 29

SKILLS AND EDUCATION GROUP
(A Company Limlted by Guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Expendlture on raising funds
2024
2023
Cost of sales - BIIAB
Cost of sales- QLS
Administration expenses - BIIAB
Administration expenses - QLS
Depreciation - BIIAB
Salary recharge8- BIIAB
Salary recharges - QLS
449,732
445, 744
8,609
984,055
72,391
1,294
1,066,081
63, 705
1,740,207
1,558
1,580,610
3,772,107
2,641,879
Analysis of exponditure on charltsble actlvltles
Summary by fund typo
Unrestricted
fund•
2024
Total
2024
Total
2023
Learner recognitlon
Access to HE
Project, membership and CPD
3,504,807
746,865
699,794
3,504,807
746,865
699.794
2,734,419
359, 097
159, 670
Totsl 2024
4,951,466
4,951,466
3,253, 186
Total 2023
3, 253, 186
3,253, 186
Page 30

SKILLS AND EDUCATION GROUP
(A Company Llmited by Guarantse
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Analysis of 8xpenditur8 by activities
Activiti
undertaken
directly
2024
Support
costs
Total
fund•
2024
Total
funds
2023
2024
Learner recognition
Access to HE
Project, membership and CPD
1,125,298
280,341
257,239
2,379,511
466,524
442,555
3,504807
746,865
699,794
2,734,419
359,097
159,670
Total 2024
1,662,876
3,288,590
4.951,466
3,253, 186
Total 2023
1,176,433
2,076, 753
3,253, 186
Analysls of dlrect costs
ProJe¢(
rnembfrrship
and CPD
2024
Loamar
recognlllon Acce88 to HE
2024
2024
Total
fund8
2024
Total
funds
2023
Staff costs
Moderator and examiner costs
Centre costs
CPD and prolect expenses
Certificates
QAA registration
Foundation activities
642,967
262,037
24.066
153,953
89,339
92,692
889.612
351,376
24,065
164,547
85.157
37,049
111,070
611,109
306,588
9,653
48,301
64, 245
33,310
103.227
164,547
85,157
37.049
111,070
Total 2024
1,126,296
280,341
257,239
1.662,876
1, 176,433
Total 2023
960,288
159,372
56, 773
1, 176,433
Page 31

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Analysls of oxpondlture by activities (contlnued
Analysis of support costs
Project,
membership
and CPD
2024
Learner
recognlllon Ac¢es¥ to HE
2024
2024
Total
funds
2024
Total
funds
2023
Staff costs
Depreciation
Bad debt
Other staff Costs
Qualification development
Administration
Communications and marketing
Donations
Premises
ICT costs
Professional fees
Bank charges
Irrecoverable VAT
Govemance costs
964,451
236,769
27,979
302,358
80,157
94,888
131,261
58,721
29,789
201,622
169,033
7,818
50,208
24,457
230,930
49,867
52,834
21,933
139,038
72,959
1,334,419
369,595
80.813
349.033
87,033
104,351
169,619
67,499
48,504
243.668
199,254
9,827
202,579
32,396
913,664
227,864
65
267,382
28,835
85,830
136,353
18,176
102,699
159,367
43,389
15,478
65,015
12,636
24,742
6,876
1,301
17,055
8,778
1,291
5,331
12,805
1,641
147,815
2,923
8,182
21,303
17,424
36,715
17,416
368
4,556
5.016
Total 2024
2,379,511
466,524
442,555
3,288,S90
2, 076, 753
Tot812023
1,774, 131
199, 725
102,897
2, 076. 753
11. Auditors. remuneratlon
2024
2023
Fees payable to the Charitys auditor for the audit of the Charitls annual
accounts
24,000
24,000
Page 32

SKILLS AND EDUCATION GROUP
{A Company Llmlted by Guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
12. Stsff costs
Group - 2024 Group 2023
Wage5 and Salaries costs
Social security costs
Pension costs
3,160,437
322.837
243.408
2, 688,826
249,269
265,634
3,726,682
3.203, 729
During the year a total of £50,963 (2023.. £Nil) vms paid in respect of contractual termination and
redundancy payments, relating to 8 employees (2023: Nill.
During the year a further £2,506 (2023: £2,506) pald in respect of contractual temiinatlon payments
which represent an ongoing annual cost to the parent charitable company In perpetuity until the death of
individual's covered within this payment. This arrangement was in place prior to any of the current
trustees serving on the board.
The average number of persons employed by the charltable company during the year was as foll0v￿.
Group - 2024 Group - 2023
Charitable activities
Administration
Management
60
23
13
53
12
13
96
78
The number of employees whose employee benefit5 (excluding employer pension costs) exceeded
£60,000 was..
2024
2023
In the band £60,001- £70,000
In the band £70,001- £80,000
In the band £90,001- £100,000
In the band £140,001- £150,000
In the band £150,001- £160,000
The total remuneration and benefits received by key management personnel was £377,684 (2023:
£377,922). The trustees consider the key management personnel to be the Chief Executive Officer,
Deputy Chief Executive Officer and Chief Operating Officer.
Page 33

SKILLS AND EDUCATION GROUP
(A Company Llmited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
13. Trustees. rnmunoration and expenses
During the year, one or more Trustees has been paid remuneration or has receNed other beneffts from
an employment Viith the Charity for their role as Chief Executive Officer. The value of Trustees,
remuneration and other benefits was as follo￿.
2024
2023
P A Eeles
Remuneration
Penslon contributions paid
157,357
30.391
144,003
29,543
During the year, retirement beneffts V￿re accruing to 1 Trustees (2023 - 1) in respect of defined benefit
pension schemes.
During the year ended 31 August 2024, travel and accomodatlon expenses totalling £1,657 were
reimbursed or paid directly to 2 Trustee5 of the charitable group (2023 - £3, 721 to 11 Tniste8s).
Included in the above were travel, accomodation and subsistence expenses reimbursed to 2 trustees of
the parent charitable company totalling £1,657 (2023.. £2,151 to 5 Trustees).
Page 34

SKILLS AND EDUCATION GROUP
(A Company Llmltsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14. Intanglble as59ts
Group
Bespoke
software
Developrn
Wabslte
Goodwlll
Total
Cost
At 1 September 2023
Addits"ons
Disposals
406,441
183,975
(113,473)
40,214
17,863
374,993
155,478
1,232,970
376,232
2,054,618
733,548
(113,4731
At 31 August 2024
476.943
58,077
630,471
1,609,202
2,674,693
Amortlgatlon
At 1 September 2023
Charge for the year
18,070
84.442
10,173
9,840
243,435
62,993
205,358
123,297
477.036
280,572
At 31 August 2024
85,315
20,013
306,428
328,655
740,411
Net book value
At 31 August 2024
391,628
38,064
224,043
1,280,647
1,934,282
At 31 August 2023
388,371
30,041
131,558
1,027,612
1,577,582
Page 35

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14. Intangible assets (conllnued)
Charfty
Bespoke
8oftware
W•bslt•
Totsl
Co•t
At 1 September 2023
Addltions
17,189
1,178
189.084
83,377
206,273
84,555
At 31 August 2024
18.367
272,461
290,828
Amortlsation
At 1 September 2023
Charge for the year
1.284
3,555
108,376
38.032
109,660
41,587
At 31 August 2024
4,839
146.408
161,247
Net book valua
At 31 August 2024
13.528
126,053
139,581
At 31 August 2023
15,905
80, 708
96,613
Page 36

SKILLS AND EDUCATION GROUP
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
15. Tangible fixed assets
Group
Flxtures and
Ilttlngs
Offlco
equlpment
Computsr
equlpment
Prefab'd
buildlng
Property
Totsl
Cost or valuatlon
At 1 September 2023 2,596.200
Additions
473,668
63,319
12.354
475
317,222
41,416
15,842 3,415.286
105,210
At 31 August 2024
2,596,200
536,987
12,829
358.638
15,842 3,520,496
Depreciation
At 1 September 2023 1,047,977
Charge for the year
39,886
234,753
31,583
6.527
1.558
220,907
33.766
15,842 1,526,006
106,793
At 31 August 2024
1,087,863
266,336
8,085
254,673
15,842 1,632,799
Net book value
At 31 August 2024
1,508,337
270.651
4,744
103,965
1,887,697
At 31 August 2023
1, 548, 223
238,915
5,827
96,315
1,889,280
Page 37

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
15. Tangible fixed assets (continued)
Charity
Freehold Flxlures and
property
rittings
Computer
oqulprnent
Prefab'd
buildlng
Total
Cost or valuatlon
At 1 September 2023
Additions
1,270,284
447,936
63,319
242,964
40,941
15,842
1,977,026
104.260
At 31 August 2024
1,270,284
511,265
283,905
15,842
2,081.286
Depreclatlon
At 1 September 2023
Charge for the year
329,391
23,436
209,334
31,527
157,917
29,865
15,842
712.484
84.828
At 31 August 2024
362,827
240,861
187,782
15,842
797,312
Net book valua
At 31 August 2024
917,457
270,394
96.123
1,283,974
At 31 August 2023
940,893
238, 602
85.047
1,264, 542
Group
Property fixed assets conslst of freehold property V•ith a net book value of £917,457 (2023: £940,893)
and long-term leasehold property wtth a net book value of £590,88012023'. £607,330).
Page 38

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
16.
Fixed asset Investments
Llsled
Invastments
At 1 September 2023
Additions
Disposals
351,947
31,849
(383,796)
Net I￿0k value
At 31 August 2023
351,947
Inve•tments
In subsldlary
companles
Ll•ted
Investments
Totsl
Charity
Cost or valuatlon
At 1 September 2023
Addttions
Disposals
1,372,365
376,232
(35,661
351,947
31,849
1383,796)
1,724,312
408,081
(419N57)
At 31 August 2024
1.712,936
1,712,936
Net book valu•
At 31 August 2024
1.712,936
1,712,936
At 31 August 2023
1,372,365
351,947
1,724,312
Fixed asset investment additions relate to additional costs arlsing from the acquisition of BIIAB
Qualifications Limited.
Page 39

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<ffj < a)ffj<o>(u£Q
OCL
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>ztt>ztÉ>z tt>z

r•OO
r*f
¢7•r
tr t
rfj

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantse
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
17. Stocks
Group
2024
Group
2023
Finished good5 and goods for resale
29,573
113,900
Dabtors
Group
2024
Gmup
2023
Charfty
2024
Chanly
2023
Du• withln one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Called up share capital not paid
Prepayments and accrued income
1,034,990
681,458
29,610
938,564
614
26,345
569,051
139,259
614
140,237
320.101
400.432
154,522
200.412
1.355.707
1.222, 129
1,123,310
935,067
Page 42

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
19.
Credltors: Amounts falllng due wlthln one year
Group
2024
Group
2023
Charlty
2024
Chanty
2023
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred Income
605,581
558,964
158,992
1,432,955
134,349
124.355
61,183
114,442
695,887
64,591
425,530
20,450
540,109
135,685
544,440
206,484
427,073
74, 673
1,825,815
1,267, 194
1,911,834
1,320,900
Group
2024
Group
2023
Charlty
2024
Charity
2023
Deferred income at 1 September 2023
Resources deferred during the year
Amounts released from previous periods
30.500
464.032
(30,500)
75,388
30, 500
(75,388)
3,215
38,957
(3,215)
46,580
3,215
(46,580)
464,032
30, 500
38,957
3,215
Deferred income represents monles recelved In advance for leamer registrations, memberships, annual
centre fees, services and projeds.
20. Creditors: Amounts falllng due after more than one year
Group
2024
Group
2023
Charlty
2024
Chanly
2023
other creditors
487.270
269,670
487,270
269,670
Page 43

SKILLS AND EDUCATION GROUP
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
21. Ststement of funds
Statement of funds - current year
Balance at 1
Sfrptember
2023
Galnsl Balance at 31
{LossosI August 2024
Income Expondlture
Unrestrlctsd funds
General funds - charitable
company
Skills and Education Group
Awards- post acquisition
reseNes
2.268,861
445,569 (1,274A59)
16,423
1.456,394
1,511,250
2,903,268 (2,764,711)
1,649.807
Skills and Educatlon Group
Access
BIIAB Qualifications Limited
post aqcuisition reserves
Skills and Education Group
Acces5 - designated pension
reseNe
766,601
464,732
{860,944
360,389
293.788
3,166,778 13,772,107
(311,541)
{97,000}
(503,000) (600,000
Quality Licence Scheme
Limited
51.352
(51,352)
4,794,852
6,970,347
18,723,573)
(486,577) 2,555,049
Page 44

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
21.
statement of funds (continued)
Statsment of funds - prlor year
Balance at
I September
2022
Balance at
31 August
2023
Gains/
(Losses)
Income Expenditure
Unrestricted funds
General funds - charitable
company
Skills and Educatlon Group
Awards - post acquisition
reserves
1, 749, 791
920,053
(385,859)
(15. 124) 2,268,861
1,660,918
1,996, 764 (2,146,432)
1,511,250
Skllls and Educatlon Group
Access
BIIAB Quallfications Limited -
post aqcuisition reserves
Skills and Education Group
Access- designated pension
reserve
920, 605
293,484
(447,488)
766,601
254, 685
2, 680,292 (2,641, 189)
293, 788
3.000
(100.000)
(97,000)
Quality Licence Scheme
Limited
132,392
196,057
(277,097)
51,352
4,718,391
6,086, 650 (5,895,065) (115,124)
4, 794, 852
Page 45

SKILLS AND EDUCATION GROUP
(A Company Limited by Guarantso)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
22. Summary of funds
Summary of funds - current year
Balance at 1
September
2023
Gainsl Balance at 31
(Losses) August 2024
Incom• Expendlturo
General funds
4,794,852
6,970.347
(8.723,573)
(486,5771 2,555,049
Summary of funds - prlor y8ar
B81ance at
I September
2022
Balance 8t
31 August
2023
G8insl
(Losses)
Income Expendlture
General funds
4, 718,391
6,086,650 (5,895,065) (115,124)
4, 794, 852
23. Anatysls of net assets between fundg
Analysis of net assets b8twe8n funds - current period
Unre8tr1cled
nds
2024
Total
fund•
2024
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
1,887,697
1,887,697
1,934,282
1.934.282
1,846,155
1,646.155
(2,135,815) (2,135,815)
(177,270) 1177.270)
(600,000) (600,000)
Total
2,555,049
2,555,049
Page 46

SKILLS AND EDUCATION GROUP
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
23. Analysls of net assets between funds (continued)
Analysls of net assets b8tween funds - prlor period
Unrestrict8d
funds
2023
Restricted
funds
2023
Total
funds
2023
Tanglble fixed assets
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due withln one year
Creditors due in more than one year
Provisions for liabilities and charges
1,889,280
1,577,582
351,947
2,609,907
(1,267, 194)
(269, 670)
(97,000)
1, 889,280
1.577,582
351,947
2, 609,907
(1,267, 194)
(269,670)
(97,000)
4, 794,852
4, 794, 852
Total
24. Reconclliatlon of net movement In funds to net cash flow from opèratlng activltles
Group
2024
Group
2023
Net incomelexpenditure for the period (as per Statement of Flnancial
Actlvlties)
(1,736,803)
176,461
Adjustments for:
Depreciation charges
Amortisation charge5
Gainsl(losses) on investments
Dividends, interests and rents from investments
Loss on the disposal of fixed asset5
Decreasel(increase) in stocks
Decreasel(increase) in debtors
Increa5el(decrease) in creditors
Defined benefft pension scheme FRS102 costs
106,793
280,572
(16,423)
(14,863)
112,699
84,327
(133,578)
776,221
93, 123
151,899
15,124
(18,282)
(73, 204)
184,091
(67,677)
(3,000)
Net cash provided byl(used In) operating activitie5
(541.055)
458,535
Page 47

SKILLS AND EDUCATION GROUP
(A Company Llmitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
25. Analysls of cash and cash equivalents
Group
2024
Group
2023
Cash in hand
260,875
1,273,878
Total cash and cash equlvalents
260,875
1,273,878
26. Analysis of changes in net debt
At1
September
2023
At 31 August
2024
Cash flow8
Cash at bank and in hand
1,273,878 (1,013,003>
260,875
1,273,878 (1,013,003)
260,875
27. Pen81on commitments
2024
2023
Pension buyout liability
600,000
97,000
600,000
97,000
West Yorkshire Penslon Fund
Skills and Education Group Access participated in the West Yorkshire Fund IWYPF), a multf-employer
defined benefit scheme, until the final member of the scheme ceased in the period to 31 August 2023.
Discussions wth West Yorkshire Pension Fund Vlith regards to the potential buyout value are ongoing,
with the most recent available valuation of the buyout value provided by WYPF being £600,000 for an
orphan exit. This valuation is dated 31 March 2024, and is at present the most reliable valuation available
to Trustees for the potential buyout liability.
In addition to negotiations with WYPF, the Trustees are in discussion the pension scheme guarantors, to
determine whether some or all ofthe liability could be subsumed by the remaining 4 guarantors who are
adively partiGipating in this process.
The buyout value is included in these accounts at 31 August 2024 as the most reliable estimate of the
liability to the charity at the time af signing off the accounts. It is possible that the liability will be much
lower than £600,000, or no liability at all if this were to be subsumed by the guarantors.
Page 48

SKILLS AND EDUCATION GROUP
IA Company Umlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Operatlng lease commitments
The Group and the Charity had no commitrnents under non-cancellable operating leases at 31 August
2024.
29.
Relatod party transactions
Skllls and Educatlon Group Awards
During the year the charity recharged vRges and other costs to its subsidiary, totalling £1,275,485 (2023:
£1,228,961). At the year end an amount of £1,432,955 (2022: £695,888) was owed by Skills and
Education Group to Skills and Educab"on Group Awards.
Skllls and Educatlon Group Access
During the year the charity recharged wages and other costs to its subsidiary, totalling £414,970 (2023..
£125,016). At the year end an amount of £314,706 was owed by Ski115 and Educalion Group Access to
Skills and Education Group (2023- £3,876).
BIIAB Qualifications Limited
During the year the charity recharged wages and other costs to its subsidiary, totalling £1,580,810 (2023..
£1,142,694). At the year end an amount of £623,858 (2023- £431,947) was owed by BIIAB Qualrfications
Limited to Skills and Education Group.
A Stott Advisory Services
A G Stott, a trustee during the year, provlded additional advlsory seniices to the Skills and Education
Group during the year. Payments of £15,000 (2023.. £Nil) were made during the year in relation to these
seNi¢es, wth no amounts outstanding at the year end (2023.. £Nill.
Yultan Y Mellor
Y Y Mellor, a trustee during the year, provided additional consultancy senlices to the Skills and Education
Group during the year. Payments of £23,798 (2023: £Nil) were made during the year in relation to these
Services, with no amounts outstanding at the year end (2023.. £Nil).
Leicester College
V Hancock, a trustee until 18 October 2024, is also CEO and Principal of Leicester College. During the
year income of £7,530 (2023.. £4,875) was received from the College for the provision of charitable
services. There were amounts outstanding at the year end of £2,860 {2023= £25).
York College
L Probert, a trustee until 20 October 2023. is also CEO and Principal of York College. During the year
income of £10,726 (2023: £5,500) was received from the College for the provision of charitable services.
There were amounts outstanding at the year end of £Nil (2023.. £Nil).
Nottingham College
J Smith, a trustee, is also CEO and PTinapal of Nottingham College. During the year income of £18,360
(2023.. £4,545) was received from the College for the provision of charitable services. There are amounts
outstanding at the year end of £3,000 (2023.. £2401.
Buxton and Leek College
J Tildsley, a trustee unts-123 April 2024. is also a Principal of Buxton and Leek College. During the year
income of £1,920 {2023.' £3,800) was received from the College for the provision of charitable services.
There were amounts outstanding at the year end of £960 (2023.. £Nil).
Page 49

SKILLS AND EDUCATION GROUP
(A Company Limltsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
29. Related party transactions (contlnued)
Burton and South Derbyshlrn College
J Beaty, a trustee until 10 July 2024, is also a Principal of Burton and South Derbyshire College. During
the year income of £2,320 (2023- £37) was received from the College for the provision of charitable
services, and expenditure of £3,991 (2023.. £210) incurred for the same purpose. There are amounts
outstanding at the year end of £960 (2023: £Nil).
Action Houslng and Support
A G Stott, a trustee during the year, is also CEO of Action Housing and Support. During the year income
of £6,314 (2023.. £8,281) was received for the provision of charitable services. There are amounts
outstanding at the year end of £Nil. (2023: £727).
Bedford Collage
Y Koursis, a trustee, is also a director of Bedford College. During the year income of £960 (2023- £Nil)
was received for the provision of charitable service8, and expenditure of £4,000 (2023: £Nil) incurred for
the same purpose. There are amounts outstanding at the year end of £960 (2023.. £Nil).
Inspire Educatlon Group
R Nicholls, a trustee, is also CEO of Inspire Education Group. During the year income of £13,590 (2023..
£Nil) was received for the provision of charitable services. There are amount5 outstanding at the year end
of £2,060 (2023.. £Nil).
Page 50