Registered number: 02823181
Charity numbers: 1022991 & SC039039
LANTRA
(A Company Limited by Guarantee)
TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

LANTRA
IA Company Limited by Guarantee)
CONTENTS
Page
Reference and Admlnlstratlve Detalls of the Parent Charltable Company, Its Trustees
and Advisers
Chairman's Statement
Trustees. Report
Independent Auditor's Report on the Financial Ststemgnts
Consolldated Statement of Flnanclal Actlvltles
4-13
14-17
18
Consolidated Balance Sh9et
Parent Charltable Company Balance Sheet
Consolidatgd Ststgmgnt of Cash Flows
20
21
Parent Charltable Company Statement of Cash Flows
Notes to the Financial Ststemgnts
22
23-44

LANTRA
IA Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE PARENT CHARITABLE COMPANY, ITS
TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023
Trustees
Dr David Llewellyn, Chair (appointed 1 November 20221
William Lyle Andrew
Sarah Ballen
Richard Clarke
Jane Craiqie
Chades John Henning OBE
Martin Redfearn
Dr M8ry Thomson
Prof David Roberts
T￿for Owen lappoinled 1 July 20231
Helen Taylor lappoinled 1 July 20231
Euryn Jones lappointed 1 July 20231
Dr Geoff Mackey (resigned 5 May 20231
Peter Rees (resigned 5 May 20231
Heather Peck, Retired Chair Iresiqned 31 October 20221
Henry Graham (resigned 30 June 20221
Company registered
number
02823181
Charity registered
number and Scottish
Charity number
1022991 and SC039039
Registered office
Lantra House
Sloneleigh Park
Coventry
CV8 2LG
Company secretary
Robert M Tabor
Chief executive officer
Marcus Poller
Independent auditor
Cooper Parry Group Limited
Slatulory Auditor
Cubo Birmingham
Oftice 401, 4th Floor
Two Chamberlain Square
Birmingham
B3 3AX
Bankers
National Westminster Bank plc
Royal Priors
59 The Parade
Leaminglon Spa
CV32 4ZX
Page 1

LANTRA
IA Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE PARENT CHARITABLE COMPANY, ITS
TRUSTEES AND ADVISERS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
Solicitors
Anthony Collins Solicitors
134 Edmund Street
Birmingham
B3 3ES
Commercial Director
Robert Tabor
Operations Director
David Cooke
Human Resources
Director
Rachel Campbell
Director of External
Relations
Corrina Urquhart
Page 2

LANTRA
IA Company Llmlted by Guarantee)
CHAIR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
I look up the role of Chair of Lantra at a pNolal lime for many of the industries th81 we support. Ensuring that the
land-based workforce has the right skills is critical as the sector faces the challenges of economic Un￿rtainty,
labour shortages, climate change and environmentsl sustainability.
Lantra is in a strong position to address these challenges, and we remain commilled lo wotking in partnership
with industry to..
Understand skills needs and training requirements
Allract and relain a diverse 8nd Competent industry worf(for
Train people lo work safely, productively, and sustainably
Encourage and support a commitment lo Lifelong Learning
Over the last twelve months, demand for Lantra's training and qualifications has continued lo grow strongly. Our
Awarding Organisalion has certificaled 109,835 individuals, up from 103,123 last year. The growth in
apprenti￿Ship end-point assessment has also accelerated, with 1,543 assessments completed in the year,
compared with 970 in 2021-22.
The strength of our training and qualifications actiwlies provides a sound base from which lo expand our
services to address wider industry needs, perhaps the most pressing of which has been labour shortages. The
launch of Lanlra's new website, with its strong emphasis on careers, has been widely welcomed by industry. By
showcasing the wide variety of exciting roles and illuslraling potential routes for career progression. Lantra seeks
to dispel outdated perceptions and help employers, across the industry sectors we support, to attract much-
needed lalenl from more diverse backgrounds.
Maintaining a close understanding of industry's current and future needs is at the heart of Lanlra's mission and it
is particularly pleasing that Lanlra has begun lo re-establish a capacity for labour market and skills research.
This is an ares that we expect to develop further in 2023-24 and beyond.
Since taking over as Chair in November, I have had the opportunity lo experience, al first-hand, the enthusiasm
and Commitment of Lanlra staff. 11 was. therefore, no surprise that Lantra recently achieved ils best result ever
in the "Times Best Companies. survey. I should like to lake this opportunity to thank our staff for their passion
and professionalisrll. I should also like to thank the Board for ils support, advice, and dedication to the important
work that Lanlra undertakes. Finally, I wish to add a special thank you lo my predecessor, Heather Peck, who
successfully led the Lantra Board, and worked effectively with the organisation's Executive and staff, lo place
Lanlra in a strong position to help address the many challenges faced by industry in the years ahead.
Dr David Llewellyn
Chair
Date. IL A-
Jt la23
Page 3

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDEO 31 MARCH 2023
The Trustees present their annual report, which incorporates the strategic report, with the audited financial
statements for the year ended 31 March 2023.
Trustees and advisors
Details of Trustees and advisors are included on pages 1 and 2.
Charity Registration Details
Lanlra is a registered charity in both England and Wales, and Scotland. Its registration details are as follows..
Charity registration number:
Scottish Charity number:
1022991
SC039039
Principal Office
Lanlra House
Stoneleigh Park
Coventry
WanNickshire
CV8 2LG
Charitable Remit
Lanlra is a registered charity and is committed lo ils charitable objectives, which are to advance the education of
the public, carry out educational research and to disseminate the results of that research for the public benefit.
We achieve this through working in partnership with employers and other appropriate stakeholders lo promote
education, to deliver high-quality training, assessment and qualifications Ilhrough the Awarding Organisalionl
and by undertaking other work that meets the charitable objects, where funding is available.
Furthermore, our aim for the future is lo influence key policy decisions, that affect training and education in the
land-based and environmental sector through rese8rch4riven evidence and engagement with key industry
stakeholders.
Public benefit
The Trustees have considered the Charity Commission's guidance in respect of Public Benefit and have had due
regard to the guidance In setting the charity's objectives and activities. In their view the charity meets, In full, the
criteria lo satisfy the test.
Approximately 110,000 learners were certificated as a result of Lantra's training, assessments and qualifications
during the year, in addition lo around 6,000 individuals benefitting from Scoth"sh project activity and 4,000 from
Welsh project activity.
Furthermore, approximately 900 organisalions benefitted from Scottish project activity and 2,000 benefitted from
Welsh project activity.
Lantra commenced skills and labour market research during the year, which is expected to deliver valuable
Insights In the following year. This will ensure that our stakeholder needs are understood and that plans are
developed to address these where possible.
Page 4

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2023
Financial Review
The financial statements show Lantra made a surplus of £712,88512022.. £1, 192,1601- Upskill UK Limited made
a profil of £3,04812022.. £7,0481. Lanlra Awards Limited did not trade in the 12 months to 31 March 2023.
The Group has sufficient assets al the end of the year to meet Ils commitments and to support its future plans.
Covid
The impact of Covid did not appear lo materially affect Lantra's sales during the year, as the pandemic was
largely under control by the start of the year. However, there were occasions during the year when internal staff
resour￿$ were reduced due to Covid-19, resutting in reduced operating capability.
Income
Total income for the year was £11,738,937 12022.. £10,911,890). This was generated from the provision of
education and training ServI￿S to employers £7,426, 12812022.. £6,188,127). from grants and contracts secured
from Government departments and agencies £3,959,583 12022. £4,418,081), from donations and legacies £NIl
12022.. £19,289), and from other services provided £348,511 12022.. £286,1711. Lanlra does not undertake any
fundraising activity.
All funds have been allocated to support charitable activities including costs associated with awarding and
leamer support, and general administrative expenditure.
Expenditure
The Group incurred total expenditure for the year of £10,994,48312022.. £9,820,376). Payroll costs continue to
be Lanlra's largest expenditure. Staffing costs were 460/0 as a per￿ntage of total expendilure12022'. 44.￿).
Balance Sheet
The total reserves of the Group increased from £4,824,160 at 31 March 2022 10 £5,540,093 al 31 March 2023.
Reserves policy
During the year the Trustees reviewed the level of reserves which are held in order to..
Underwrite funding of the Charity's activities against periods of deficit.,
Provide initial funding for the development of new services.,
Provide confidence to external funding agencies that the Charity is prudently controlled., and
Discharge all of the Charity's obligations should it cease operations.
Recent figures from the ITB Pension Funds indicate that the ten-year value al risk is £0.53m.
The level of reserves held at 31 March 2023 for the Group was £5,540,09312022.. £4,824,160) and for the Lantra
company only £5,520,725 12022.. £4,807,840). There are no reserves which are in deficit al 31 March 2023.
Restricted funds tolalled £11,60712022.. £20,764).
The reserves policy is reviewed every year to secure the continuation of the Charity's activities. A review has
been undertaken at yearend and the reserve5 held are deemed lo be sufficient for the Charity's purposes,
taking into awount the need to hold reserves against future developments, lo finance working capital
requirements, lo finance Welsh Projects, to finance Improvement works al Lanlra House and for potential wind-
up costs if required. In line with the reserves policy, the Trustees, plan to continue lo build up reserves to
support iniliab.ves for the benefit of the sector.
Page 5

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2023
Investment policy
The investment policy of the Trustees Is low risk with the aim of securing the real value of assets. The Trustees
made a long-term investment In a total return fund during 2018 and another investment in a mulli-assel portfolio
during 2022. Lantra continues to hold these investments. There are no other material Investments beyond bank
deposits and ils Investments In group companies.
The investment policy is reviewed every year tsking account of the Charity's assets and future cash
requirements.
Lanlra does not make any social investments.
Interest rate risk
The Charity considers movements in interest rates to be the main financial risk. The Trustees have considered
this risk and decided lo continue with the approach adopted last year by investing in a total return fund along with
a multi-asset portfolio to spread the risk.
Outlook
The plan agreed by Trustees In 2020121 focused on building sustainable income from training and qualifications,
while maintaining capability lo deliver other skills-relaled projects where funding is available. Both activities
contribute lo delivering our charitable objectives. Having reviewed the five-year strategy in 2022 Trustees
believe that it remains viable and appropriate.
Taxation status
Lanlra is a registered charity and is therefore exempt from paying corporation lax on Ils charitable activities. It is
considered lo pass the lesls sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore meets the
definition of a charitable company for UK corporation lax purposes. Accordingly, the charity is potentially exempt
from taxation in respect of income or capital gains received within categories covered by Part 11, chapter 3 of
the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that
such income or gains are applied exclusively lo charitable purposes. Lantr8 Awards Limited is dormant and not
expected lo trade in the foreseeable future and Upskill UK Limited will pay lax on profits generated in the future.
Third party indemnity provision for Trustees
Qualifying third party Indemnity provision is in place for the benefit of all Trustees of the Charity.
Achievements and Perfomiance
Attract and retain a diverse and competent industry workforce
A new careers website was launched during the year, to provide more information on the roles available and
typical careers pathways, along with case studies from existing employees working in these fields. Skills and
knowledge requirements are also provided, along with suggested training courses to progress in these careers.
In Scotland the work of the Lanlra team. funded by the Agriculture and Rural Economy Directorate of Scottish
Government, focuses on promoting positive and rewarding career choices, influencing learning and training
provision, and driving investment In learning and skills.
Page 6

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2023
During the year the team in Scotland continued the highly successful 'ALBAS' (the Awards for Land-Based and
Aquaculture Skills), showcasing achievements and promoting career opportunities. Finalists are invited lo join
the Lanlra "Industry Champions programme where they receive personal development in return for acting as
careers ambassadors for their industries.
They also increased the number of STEM Ambassadors working in the sector, which helps to beller associate
these important subjects with our sector, in the minds of those choosing a career, and increased their
engagement with school career events.
Lantra Scotland also supported, and the Scotland Director co-chaired, the Commission for the Review of Land
Based Learning, whose report was submitted in January to Ministers.
The promotion of nalure-based careers in Scotland is becoming increasingly important, helping to sustain
economic growth in the rural and coastal communities, as well as to protect the natural environment.
The Lantra team in Wales continues lo support Lifelong Learning and Development through Farming Connect
contracts for agriculture, forestry and horticulture businesses in Wales. The programmes focus on training and
personal development for workers and business owners, while also supporting them within the new post Brexit
trading worfd and preparing farmers to access the new Welsh Government Sustainable Farming Scheme
commencing In 2025.
Train people to work safely, productively. and sustainably
Lantra works with partners lo help address skills challenges, reviewing apprenticeships and qualifications in
partnership with industry and key agencies, as well as facilitating the development of short courses, to enhance
productivity in the industry.
During the year we released 49 new courses and updated the conlenl of 10 existing products, through the
standard product review process. We also withdrew 89 products so that our customers can understand our
product portfolios more easily. This gives us more time and resources to focus upon products that are more
meaningful lo our customers.
Delivery of courses through e-learning technology also continued to pay dividends, with good sales throughout
the year. Electronic assessment, using an online proctoring solution, continued to be used throughout the year
as well.
To support delivery through our accredited nelwork, we recruited 66 new inslruclors, whilst also working closely
with our existing instructor population lo increase the number of days during the year when they are delivering
Lanlra courses.
During the year we commenced a trial on the use of electronic proof of skills cards le-cardsl, lo distribute to
leamers as part of our expanding digital offering, in addition lo the hardcopy versions which are also provided.
We also launched a new website with improved functionality, specifically to enable our training providers to
display course availability lo improve our learner booking experien￿.
The Lanlra team In Scotland worked with Scottish Government to help Increase access to training, through
Initiatives such as the Women in Agriculture Training Fund, the Women in Rural Economy Training Fund and the
Green Skills Training Fund.
Lantra has continued to be active in the development of National Occupational Stsndards INOSI, qualifications
and frameworks, commissioned by Skills Development Scotland ISDSI-
Page 7

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2023
This year Lanlra delivered £53.850 worth of outputs relating to NOS Ilncident Management, Game & Wildlife and
Land-based Engineering), apprenticeship frameworks In Wales (Floristry) and Welsh translations for 7 NOS
suites.
Lantra also completed the development of the Aquaculture Modern APprenti￿shipS Into the new Modem
Apprenticeships system for Scotland, which was separately funded 1£22,0001 through Skills Development
Scotland ISDSI.
We continued to deliver an End-Poinl Assessment IEPAI Servi￿ for apprenliTrships, with 1,543 assessments
conducted during the year, an Increase of 573 versus the previous year. We also continued to work with Land
Based Assessments Limited ILBALI lo develop assessment materials and build assessor capacity.
Our work in Veterinary Nursing progressed well during the year, with 200 learner registrations in the period. A
mock Objective Structured Clinical Examination IOSCEI has been completed, as required for accreditation with
The Royal College of Veterinary Surgeons IRVCSI, along with question papers and OSCE tasks, ready for use
within the assessment process.
Encourage and support a commitment to Lifelong Learning
During the year we appointed a Director of External Relations lo be responsible for strategic engagement with
key stskeholders in the land-based and environmental sector, to Improve our capabilities in delivering our
charitable obieclives.
Ongoing social media activity, to promote a culture of lifelong learning and the courses which Lantra offers, also
continued lo Increase the number of visitors lo the Lanlra website seeking training and qualifications.
Furthermore, the validity of our training courses expires after five years in the majority of cases, encouraging
learners lo refresh their skills through attendance at an appropriate training course, therefore ensuring that
learner skills remain currenL
Our People
We achieved the "Gold. awreditslion In Investors In People assessment during late 2021. During the year we
reached the 'One Stsr. category in the "Times Best Companies survey. This is Lantra's highest score since
starting the survey in 2016.
Quarterly surveys returned staff engagement scores of 80°k during the first two quarters, 85'/o in the third quarter
and 82'/o in the final quarter, which is leslament to the level of activity completed lo ensure high levels of
Involvement and enthusiasm of our employees in their work and workplace.
Sustsinability
Lantra has now embedded sustainability into our product development process, ensuring that relevant conlenl is
induded within our products when they are developed or refreshed.
We also engaged in consultancy work during the year lo understand our impact on the environment as part of
our strategy on sustainability. As a result of this we have developed a sustainability action plan to understand the
activities we can undertake to ensure this impact is appropriate.
We were a150 accepted as a member of Sustainability West Midlands, which is a not-for-profit organisation that
provides advice to businesses in the region, develops practical solutions with members and shares best practice
across a diverse ne￿Ork.
Page 8

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2023
Furthermore, we sel up a Sustainability Committee and Sustainability Working Group, lo be responsible for
championing sustainability across the organisalion and to meet the objectives sel out in our carbon reduction
plan respectively.
Key Performance Indicators
In addition to financial performance metrics, the following key perfomiance indicators are monitored by the
charity to measure our su¢cess'.
Number of learners certificated and End Point Assessments IEPAsl',
Number of instructors supporting the training infrastructure.,
Assurance activity to ensure quality training delivery.,
Beneficiary satisfaction and number of complaints.,
Internal processing efficiency,. and
Staff engagement, absence and turnover.
As described throughout the Trustees, Report, through the monitoring of these indicators the Trustees are
satisfied that Lanlra is performing strongly.
Plans for the future
As outlined in our strategy report which was agreed by the Board In November 2022, in order lo deliver our
mission it has been agreed that Lanlra's strategy should focus on the following priorities.
Industry Engagement.,
Being the Skills Partner of Choice.,
Attracting and Retsining Talent for our Industries.,
Encouraging and Supporting Life-Long Learning.,
Sustainability,. and
Operational Excellence.
These activities will principally be paid for through trading income, therefore the scope, pace and sustainability of
these elements depends critically on the availability of surpluses from trading.
We are continuing to Improve our relationships and information flows with our instructor and training provider
network, while also increasing our delivery capacity across our course portfolio.
We will shortly be providing all learners with online access to their skills records, with the aim of also providing
them with electronic skills cards le-cardsl through the same online portal, to accompany the previously launched
e<ertificates.
Governance and management
Governing document
The Charity ILanlral is a company, limited by guarantee and Incorporated on 2 June 1993. It has no share
capital. Its Memorandum and Articles of Association were last updated on 7 February 2019. The Charity has
o wholly owned subsidiaries, each governed by their own Memorandum and Articles of Association.
Lanlra Awards Limited., a charity whose business was transferred into Lantra on 1 July 2011 and is now
dormant., and
Upskill UK Limited,. a company incorporated on 28 August 2007, to take forward commercial opportunities.
The lemi 'Group' refers lo the combined activity of Lantra and ils subsidiaries.
Page 9

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2023
Appointment of Trustees
Trustees are appointed independently with recruitment and selection based on an assessment of the skills and
experience needed. This assessment is updated regularly. Recruitment is planned to replace Trustees as their
term of Offi￿ expires and to fill casual vacancies as they arise.
Trustee induction and training
Incoming Trustees receive Induction and training to ensure that they understand the charitable aims and
strategic objectives of the Charity as well as the operation of the organisalion and the duties and responsibilities
of a Trustee. Performance of the Board and of individual Trustees is reviewed on an annual basis. Training and
development Is undertaken to ensure that knowledge and skills are appropriately maintsined.
Governance structure
The governance structure consists of the main Board supported by the Audit and Quality Committee and the
Remuneration Committee.
The Board of Trustees is comprised of not less than seven nor more than thirteen compelenl individuals.
Trustees who served during the year were..
Dr David Llewellyn (Chairl
Heather Peck (Retired Chairl
William Lyle Andrew
Sarah Batten
Richard Clarke
Jane Craigie
Charles John Henning OBE
Dr Geoff Mackey (Retired 05105120231
Martin Redfearn
Peter Rees (Retired 05105120231
Dr Mary Thomson
Prof David Roberts
Henry Graham (Retired 30106120221
The Board of Trustees meets al least on a quarterfy basis lo ensure that the Charity is meeting its charitable
objectives and remains financially sound. Trustees provide strategic direction for the Charity and agree
operational plans which are implemented by the Executive Team. Trustees regulady monitor strategic and
operational performance through regular reports against agreed metrics and tsrgels.
The Chief Executive and Senior Staff who served during the period were..
Marcus Potter (Chief Executive Officer)
Robert Tabor Icommercial Director}
David Cooke (Operations Director)
Rachel Campbell (Human Resources Director)
Corrina Urquhart (Director of External Relationsl- Appointed 0711112022
Pay and remuneration of key management
The remuneration of all staff including key management is benchmarked using local market data and inflation.
Based on this benchmark the key management team receive pay rises in line with all other staff In the Charity.
Page 10

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2023
In addition, key management may receive a bonus based on the achievement of performance targets set by the
Trustees al the beginning of the year. Parameters for the organisalional pay review are sel by the Remuneration
Committee which also scrutinises individual pay rises and performance bonuses of key management.
During the year a new all-slaff perfomiance payment lo reward staff for Lanlra's overall corporate performance
was agreed, along with an interim pay award to miligale the impact of high inflation during the period.
Risk management and internal control
The Trustees, through the Audit and Quality Committee, undertake a regular review of risks to ensure that
appropriate measures are In place to control and mitigate them. The risk register is reviewed quarterly by the
Audit and Quality Committee. The Board and the Audit and Quality Committee also consider any risks which
May arise as a result of new activities or areas of work being considered by the Charity.
Lanlra seeks to maintain a sound system of internal control lo safeguard assets and resources and support the
achievement of its charitable objectives. Our internal control processes have been in pla￿ for the whole of the
year ending 31 March 2023 and are designed to manage risks rather than eliminate them. Lanlra's system of
Internal control involves an ongoing proTrss to identify and evaluate the nature and extent of the main risks
which could affect achievement of our objectives, and to manage them efficiently, effectively and economically.
Key features of the system of intemal control are..
Procedures for identifying the organisation'5 key risks in relation lo its objectives..
Review and maintenanTr of the internal control strategy and risk management policy.,
Involvement of all senior managers lo Identify, assess and control risks, including consideration of risks at
management meetings.,
The allocation of risk ownership.,
The use of internal audit and quality systems compliant with ISO 9001.2015.,
Procedures for ensuring that aspects of risk management and Intemal control are regularly reviewed and
reported on.,
Systems for ensuring compliance with specific regulations or procedures laid down by key external
parties.,
The Audit and Quality Committee reviews the systems and procedures in place against the risk schedule
lo provide guidance to the Executives., and
The main risks and associated mitigation plans are reviewed by the Board on a quarterly basis.
The key risks facing the organisalion are..
Insufficient delivery capacitylcoverage- In$tructorslAssessors
Mili
alion
lan.. Each market group has a targeted recruitment plan for the skills groups in its remit, supported by
appropriate marketing. An instructor account management programme has been commenced to improve
relationships, loyalty to Lantra and to increase the number of Lantra courses each instructor delivers.
Perforrnan￿ against instructor recruilmenl and instructor usage is reviewed quarterly.
Regulatory no￿￿0MplIanCe1lOss of awarding powers
Mili
alion
lan. Lanlra's systems of control with regards to regulatory compliance are reviewed continually,
culminating in the submission of an annual statement of compliance.
Insufficient stakeholders activety engaged with Lantra
Mili
alion
lan.. The Director of External Relations has started to engage with extemal Institutions lo delemiine
the needs of the sector and to Influence and build effective relationships outside Lanlra. The Head of Industry
Partnership roles which we have in place also engage with key contacts across relevant sectors, lo understand
skills needs in the market and to further build relationships with professional bodies.
Page11

LANTRA
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 31 MARCH 2023
Health and safety
Lantra has an identified Health and Safety Officer and a network of health and safety representatives across the
organisation lo maintain standards.
Health and safety are regularly reported on and reviewed both by
management and by the Board of Trustees.
Scottish Activity
The Office of Scottish Charity Regulator IOSCRI requires certain additional information to be provided
con￿MIng Lanlra's operation in Scotland, which is laid out in the paragraphs below.
The aims and objectives of Lanlra in Scotland are consistent with those for the rest of the UK. Lantra operates
across all four countries of the UK, with key functions and support serVI￿S provided from our head office.
Lanlra's team In Scotland undertakes a range of activities to support skills development in the land-based and
aquaculture sector, including promotion of careers, celebrating the achievements of land-based learners le.g. at
the Royal Highland Show and Land-Based and Aquaculture Learner of the Year Awards). and employer
engagement to promote the benefits of training and development and lo influence skills policies and funding.
Lanlra received £1,044,379 funding from Scottish institutions and incurred £563,498 of costs locally. These
costs exclude support from non-scotland-based staff.
The Charity Governance Code
The Board of Trustees has reviewed and discussed the Charity GovemanTr Code and considers Lantra to be
compliant with all seven principles of the Code.
The Board has agreed ils five-year strategic plan for 2020-25 which sets out our clear purpose, vision and
values. To ensure we deliver against these objectives we have created a series of key performance indicators
and monitor performance against these al our Board meetings. These KPIS measure the effectiveness of the
organisation on both an operational and a values basis. The Board is commilled to adopting values and creating
a culture which helps the organisalion achieve Ils charitable purpose and has created a nelwork of value
ambassadors to drive our values throughout the organisalion.
All our decisions are based on sound management information and are reviewed against our risk schedule. The
Trustees are recruited for their skills and experience as well as their area5 of specialism. Recruitment is
undertaken against a skills and knowledge matrix and each Board meeting has a feedback session lo enable the
Board to identify learning and development opportunities In terms of Board effectiveness. The Board regularly
has attendance by non-Truslees to assist in open and transparent communication.
Use of Volunteers
The Charity is supported by the work of a significant number of volunteers who freely provide their time lo allend
steering and advisory groups. In addition, businesses make their time freely available lo help provide research
Information and 8SSlSt In the development of occupational standards and frameworks and training courses.
Page 12

LANTRA
IA Company Limlted by Guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
ststgm8nt of Trustees. responslbilities
The Trustees (who are also Directors of Lanlra for the purposes of company lawl are responsible for p￿paring
the Trustees. Annual Report and the financial slalemenls in accordance with applicable18w and United Kingdom
Accounting Standards (United Kingdom Generally AC￿pted Accounting Pradi¢e}-
Company18w requires the Trustees lo prepare financial stslemenls for each financial year, which give a true and
fair view of the slate of affairs of the Charitable Company and the Group and of the incoming resources and
application of resources, including the income and expenditure, of the Charitable Company and Group for that
period. In preparing these financial slatemenls, the Trustees are required lo..
Select suitsble accounting policies and then apply them consistently,.
Obsetve the methods and principles in the Charity's SORP 2019 IFRS 1021.,
Make judgements and accounting estimates that are reasonable and prudent..
Stale whether applicable accounting standards have been followed, subject lo any material departures
disclosed and explained in the financial slalemenls", and
Prepare the financial slalemenls on the going concern basis unless it is inappropriate lo presume that the
Charitsble Company and the Group wll continue in business.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable a¢curacy
al any time the financial position of the Charitable Company and enable them lo ensure that the financial
slalements comply with the Companies Act 2006, and with the Charities and Trustee Investment Iscotlandl Act
2005 and the Charities Accounts Iscotlandl Regulations 2006. They are also responsible for safeguarding the
assets of the Charrtable Company and the Group and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
The Trustees confirm that..
So far as each Trustee is aware, there is no relevant audit information of which the Charitable Companls
auditors are unaware., and
The Trustees have taken all steps that they ought to have taken lo rnake themselves aware of any
relevant audit infomiation and to establish that the auditors are aware of that information.
The Trustees are responsible for the m8inlenan¢e and integrity of the corporate and financial information
included on the Charitsble Companls website. Legislation in the United Kingdom governing the preparation and
dissemination of financial ststements may differ from legislation in other jurisdictions.
Auditors
After conducting the Lanlra 5-year Audit Tender process in November 2022 Cooper Parry Group Limited were
selected lo continue in office and are willing lo continue for the upcoming years.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Dr Davld Llewellyn
Chair
Dale.. ti AvY?tr lal7
Page13

LANTRA
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANTRA
Oplnlon
We have audited the financial statements of Lantra (the 'Parenl Charitable Company'l and its subsidiaries (the
'Group'l for the year ended 31 March 2023 which comprise the Consolidated Slalement of Financial Aclivilies,
the Consolidated Balance Sheet, the Parent Charitable Company Balance Sheet, the Consolidated Ststemenl of
Cash Flows, the Parent Charitable Company 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 stste of the Group's and of the pa￿nI Charitable Company's affairs as at
31 March 2023 and of the Group's incoming resources and application of resources, including its income
and expenditure for the year then ended.,
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordanTr with the requirements of the Companies Act 2006, the Charities and
Trustee Investment IScoUandl Act 2005 and regulations 6 and 8 of the Charities Accounts Iscotlandl
Regulations 2006.
Basis for opinion
We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance with 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 eviden￿ we have obtained is sufFi¢ienl and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slalements, we have concluded that the Trustees. use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, 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
Company's ability lo continue as a going concern for a period of at least tsvelve months from when the financial
statements are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees wth respect to going concem are described in the
relevant sections of this report.
Page 14

LANTRA
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANTRA ICONTINUEDI
Other Informatlon
The other infomialion comprises the information included in the Annual Report other than the financial
statements and our Audilo¢s Report thereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except lo the extent otheNise explicitly ststed in our report, we do not express any form of assurance conclusion
Ihereon. Our responsibility is lo read the other information 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 work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Oplnlon on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees. Report including the Strategic Report for the financial year for which
the financial statements are prepared is consistent with the financial stalemenls.
the Trustees. Report and the Strategic Report have been prepared in accordan￿ with applicable legal
requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understsnding of the Parent Charitable Company and its environment obtained
in the course of the audit, we have not identified material misslatemenls in the Trustees, Report including the
Strategic Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 and the
Charities Accounts Iscotlandl Regulations 2006 las amended) require us lo 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 15

LANTRA
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANTRA ICONTINUEDI
Responslbllltles of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees Iwho are also the directors of
the Parent Charitsble Company for the purposes of company lawl are responsible for the preparation of the
financial ststemenls and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is ne￿SSary lo enable the preparation of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the Parent
Charitsble Company's ability lo continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group
or the Parent Charitable Company or to ￿ase operations, or have no realistic allernalive bul to do so.
Audltorfs responslbllltles for the audlt of the flnanclal statements
We have been appointed as auditor under section 44(1 Ilcl of the Charities and Trustee Investment (Scotlandl
Act 2005 and under the Companies Act 2006 and report in accordance with the Act and relevant regulations
made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial ststemenls as a whole are free
from material misslatemenl, whether due to fraud or error, and lo issue an Audilovs 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 IUKI will always detect a material misststemenl 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 lo influence the economic decisions of users taken on the basis of these financial ststemenls.
Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, oudined above, lo delect material misstalemenls in respect of irregularities,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detailed below..
Our assessment focused on key laws and regulations the Group and Parent Charitable Company has lo comply
with and areas of the financial statements we assessed as being more susceptible lo mistalement. These key
laws and regulations included but were not limited lo compliance with the Companies Act 2006, Charities Act
2011, Charities and Trustee Investment (Scollandl Act 2005, Education Act 2011, tsxalion legislation, data
prolects'on, anti-bribery and employment legislation.
We are not responsible for preventing irregularities. Our approach to delecling irregularities included, but was not
limited to, the following..
obtaining an understanding of the legal and regulatory framework applicable lo the Group and Parent
Charitable Company and how the Group and Parent Charitable Company are complying with that
framework, including an agreement of financial statement disclosures to underlying documentation and other
evidence.,
obtsining an understsnding of the Group and Parent Charitable Company's control environment and how the
Group and Parent Charitable Company have applied relevant control procedures, through discussions with
Trustees and other management and by performing walklhrough testing over key areas.,
obtaining an understanding of the Group and Parent Charitable Company's risk assessment pro￿sS,
including the risk of fraud.
reviewing meeting minutes of those charged with governance throughout the year,. and
performing audit testing lo address the risk of management override of controls, including testing journal
Page 16

LANTRA
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANTRA ICONTINUEDI
entries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions outside the normal course of business and reviewing accounting estimates for bias.
Whilst considering how our audit work addressed the detection of irregularities, we also considered the likelihood
of detection based on our approach. Irregularities arising from fraud are inherently more difficult lo delecl than
those arising from error.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading lo a material misstalemenl in the financial statements or non-complian￿ with regulation. The risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial slatemenls, as we will be less likely lo become aware of Instances of non-compliance.
The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves
intentional cOn￿alMent, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al.. www.frc.or
.uklauditorsres
onsibililies. This description forms part of our
Auditor's Report.
Use of our report
This report is made solely to the Parent Charitable Company's members, as a body, in accordance with Chapter
3 of Part 16 of the Companies Act 2006, and to the Parent Charitable Company's trustees, as a body, in
accordance with Regulation 10 of the Charities Accounts (Scotlandl Regulations 2006. Our audit work has been
undertaken so that we might slate to the Parent Charitable Company's members those mallers we are required
lo slate lo them in an Auditor's Report and for no other purpose. To the fullest exlenl permilled by law, we do not
accept or assume responsibility lo anyone other than the Parent Charitable Company and ils members, as a
body, for our audit work, for this report, or for the opinions we have formed.
Cy l_c,L
Glen Bott (Senior Statutory Au"ditor)
for and on behalf of
Cooper Parry Group Limited
statutory Auditor
Cubo Birmingham
Office 401, 4th Floor
Two Chamberlain Square
Birmingham
B3 3AX
Date." 31 August 2023
Cooper Parry Group Limited are eligible lo act as 8uditors in terms of section 1212 of the Companies Act 2006.
Page 17

LANTRA
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2023
Restrlcted Unrestrlcted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Charitsble activities..
Awarding and Learning
Grants and other Government
contracts
Other services provided
Investments
19,289
10,020
7,416,108
7,426,128
6,188,127
3,959,583
348,511
4,715
3,959,583
348,511
4,715
4,418,081
286,171
222
Total income
10,020
11,728,917
11,738,937
10,911,890
Expenditure on:
Charitable activities
19,177
10.975,306
10.994,483
9,820,376
Total expenditure
19,177
10,975,306
10,994,483
9,820,376
Net lexpenditurellincome before net
Ilossesllgains on investments
Nel Ilossesllgains on investments
19.1571
753,611
128,5211
744,454
128,5211
1,091,514
77,694
Net movement in funds
19.1571
725,090
715,933
1,169,208
Reconciliation of funds:
Total funds brought forward
Nel movement in funds
20,764
19,1571
4.803,396
725,090
4.824,160
715,933
3,654,952
1,169,208
Total funds carried forward
11.607
5,528.486
5,540.093
4,824,160
All activities during the year are classed as continuing.
The Charity has taken advantage of section 408 of the Companies Act 2006 to not publish ils own Statement of
Financial Aclivilies.
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 23 to 44 form part of these financial statements.
Page 18

LANTRA
IA Company Limited by Guaranteel
REGISTERED NUMBER- 02823181
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
14
632,773
2.274,536
469,899
2,303,058
2,907,309
2,772,957
Current assets
Debtors
Cash at bank and in hand
16
1,897,830
2,070,808
3,693,963
1,906,506
3,968,638
5,600,469
Credrtors.. amounts falling due within one
year
17
{1,335,854}
13,549,266)
Nel currenl assets
2.632.784
2,051,203
Total assets less current Ilabllities
5,540,093
4,824,160
Total net assets
5.540,093
4,824,160
Charity funds
Restricted funds
Unrestricted funds
19
19
11,607
5.528.486
20,764
4,803,396
Total funds
5.540.093
4,824,160
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 We￿ approved and authorised for issue by the Trustees 8nd signed on their behalf by..
Dr David Llewellyn
Chair
Dale..
Ir tsLI
The notes on pages 23 10 44 form part of these financial slalemenls.
Page 19

LANTRA
(A Company Limited by Guaranteè)
REGISTERED NUMBER- 02823181
PARENT CHARITABLE COMPANY BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
14
632,773
2.274,638
469,899
2,303,160
2.907,411
2,773,059
Current assets
Debtors
Cash at bank and in hand
16
1,897,828
2,057,230
3,693,963
1,902,926
3,955,058
5,596,889
Creditors.. amounts falling due within one
year
17
1.341,744}
13,562,108)
Net current assèts
2,613,314
2,034.781
Total assets less current liabilltles
5,520,725
4,807,840
Totsl net assets
5,520,725
4,807,840
Charity funds
Restricted funds
Unrestricted funds
11.607
5.509,118
20,764
4,787,076
Total funds
5.520,725
4,807,840
The Parent Charitsble CoMpan￿S nel movement in funds for the year was £712,88512022'. £1,192,160).
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial slalemenls.
The financial slalemenls were approved and aulhorised for issue by the Trustees and signed on their behaw by..
Dr Davld Llewellyn
Chair
Date.. ti
loi2
The notes on pages 23 to 44 form part of these financial statements.
Page 20

LANTRA
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Note
Cash flows from operating activities
Nel cash used in operating activities
22
412.909
210,245
Cash flovts from investing activities
Interest Received
Purchase of fixed asset investments
Purchase of fixed assets
Proceeds from sale of tangible fixed assets
4.716
222
11,000,000)
1253,503} 1131,2191
180
14
Net cash used in investing activities
1248.607} 11.130.997)
Cash flovts from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
164.302
{920.7521
2,827,258
1,906,506
Cash and cash equivalents at the end ofthe year
23
2,070,808
1,906,506
The notes on pages 23 to 44 form part of these financial statements
Page 21

LANTRA
IA Company Limited by Guarantee)
PARENT CHARITABLE COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Note
Cash flows from operating activities
Nel cash used in operating activities
22
397.987
205,434
Cash flovts from investing activities
Interest re￿iVed
Purchase of fixed asset investments
Purchase of fixed assets
Proceeds from sale of tangible fixed assets
2,080
11,000,000)
1253,503} 1131,2191
180
14
Net cash used in investing activities
1243.683} 11.129.139)
Cash flovts from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
154.304
{923.7051
2,826,631
1,902,926
Cash and cash equivalents at the end ofthe year
23
2,057,230
1,902,926
The notes on pages 23 to 44 form part of these financial statements
Page 22

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
General Infomiatlon
Lantra is a private limited company, limited by guarantee and incorporated and registered in England and
Wales. Its company registration number is.. 2823181. It is domiciled in England.
The Registered offi￿ is Lantra House, Stoneleigh Park, Coventry, CV8 2LG.
Accountlng pollcles
2.1 Basis of preparation of financial statements
The financial slalements have been prepared in accordan￿ with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Lantra meets the definition of a public benefit entity under FRS 102. The financial statements have
been prepared under the historical cost convention eX￿pt that ￿rtain investments are held at
market value.
The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balan￿ Sheet
consolidate the financial statements of the Parent Charitable Company and its subsidiary
undertakings. The results of the subsidiaries are consolidated on a line by line basis. The financial
statements are prepared in Slerfing 1£), which is Lantra's functional currency and are rounded to the
nearest whole pound.
The Parent Charitable Company has taken advantage of the exemption allowed under section 408 of
the Companies Act 2006 and has not presented Ils own Statement of Financial Activities in these
financial stalemenls.
The financial statements have been prepared in accordan￿ with all applicable laws and regulations
for both, charities and companies.
2.2 Going concern
The financial statements have been prepared on a going concern basis. Lantra is considered lo be a
going concern on the basis that the group has sufficient assets at the end of the year lo meet ils
commitments and lo support Ils future plans.
Page 23

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcles Icontlnuedl
2.3 Incoming Resources
All income is recognised when the Charity is legally entitled to it, after any performance conditions
have been mel, the amounts can be measured reliably, and it is probable that the income will be
re￿ived.
The following policies are applied lo the specific categories of income..
Income from grants and govemment contracts
Grants and donations are recognised in the Statement of Financial Activities when the Charity
becomes entided to receipt, when receipt is probable and when the value can be reliably quantified.
Grants and contracts that have performance related conditions are recognised in the Statement of
Financial Activities when performance conditions are satisfied.
Deferred income is recognised in the balance sheet when the Charity has received income in
advance of performance related conditions being met.
Grants re￿1vable for capital expenditure are maintained in a restricted fund to which depreciation of
the relevant asset is charged.
Interest and Investment Income
Interest and investment income is accounted for when receivable by the Charity.
2.4 Resources Expended
All expenditure is accounted for on an accruals basis as a liability is incurred and has been classified
under headings that aggregate all costs related lo the category. Direct staff costs and overheads are
allocated be￿een charitable activities on the basis of estimated time spent on each project. Support
costs are those incurred direcuy in support of expenditure on the objects of the Charity. Governance
costs are those incurred in connection with administration of the Charity and compliance with
ststulory requirements,
Support costs are allocated in proportion lo the staff numbers incurred on the Charity's various
aclivilies.
2.5 Tanglble flxed assets and depreclatlon
Tangible fixed assets costing £500 or more are capilalised and recognised when future economic
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 al cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition are
included in the measurement of cost.
Page 24

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcles Icontlnuedl
2.5 Tangible fixed assets and depreciation Icontinuedl
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straighl-line method.
Depreciation is provided on the following basis..
Long leasehold premises
Office equipment
Office Furniture
Software and website
development
40h per annum
200h to 330A per annum
200h per annum
330k per annum
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised al their
transaction cost and subsequently measured at fair value at the Balance Sheet dale, unless the value
cannot be measured reliably in which case it is measured al cost less impaimient. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on
investments, in the Consolidated Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.7 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
2.8 Creditors
Trade and other creditors are recognised at the settlement amount due after any trade discounts
offered. Accruals are valued at the amount accrued nel of any trade discounts due.
2.9 Flnanclal Instruments
The Group only enters into basic financial instruments transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed al the end of each
reporting period for objective evidence of impairment. If objective eviden￿ of impairment is found, an
impaimient loss is recognised in the Statement of Financial Activities.
Financial assets that are measured at fair value are valued based on valuations obtained al the year
end. The fair value of the cash has been determined with reference lo the bank statements and
reconciling items at the year end.
Page 25

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcles Icontlnuedl
2.10 Retirement benefits - Pension Scheme
The Charity participates in the ITB Pension Funds, a defined benefit scheme, which is externally
funded and has its own direct contribution stskeholder pension. The fund is valued at least every 3
years by a professionally qualified independent actuary with the rates of contribution payable being
determined by the Trustees on the advice of the actuary. The scheme operates as a pooled
arrangement. As a consequen￿, no share of the underlying assets and liabilities can be directly
attributed to the Charity.
In these circumstances, contributions are accounted for as if the scheme was a defined contribution
scheme based on actual contributions paid through the year with the amount charged lo the
Statements of Financial Activities in respect of pension costs and other post-retirement benefits being
the contributions payable in the year.
2.11 Redundancy Costs
The costs of making employees redundant are recognised in the period in which the redundancy is
communicated to the employee. In cases where the redundancy is communicated prior lo the year
end but the employee does not leave until after the year end, the full costs of the redundancy are
accrued.
2.12 Leased assets
Rentals paid under operating leases are charged lo income on a straight-line basis over the term of
the lease. Operating leases are where the risks and rewards of ownership remain with the lessor.
2.13 Restrlcted funds
Lantra re￿iVeS some reslricled income which can only be used for specified purposes as staled by
the funder. Each type of restricted fund is accounted for and separately identified in the accounts.
2.14 Unrestrlcted funds
Unrestricted funds are incoming resources re￿iVed or generated for charitable purposes and are
available for use at the discretion of the Trustees in furtherance of the general objectives of the
Charity and which have not been designated for other purposes.
2.15 Judgements In applylng accountlng pollcles and key sourees of estlmatlon uncertalnty
In preparing the Financial Statements, management is required to make estimates and assumptions
which affect reported income, expenses, assets, liabilities and disclosure of conlingenl assets and
liabilities. Use of available information and application of judgement are inherent in the formation of
estimates, together with expectations of future events that are believed to be reasonable under the
circumstsnces. Actual results in the future could differ from such estimates.
In relation to government contract income where we also have deferred income overlapping the
financial year end, the income recognised matches the direct costs and any remaining contract funds
are not recognised until the contract is complete. Accruals are mostly based on post year end events
and depreciation rates are set based on industy norms and are consistent year on year.
Page 26

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Income from donatlons and legacles
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Other Grants
19,289
Analysis of grants and other Government contracts
Unrestricted Unrestricted
funds
funds
2023
2022
Other Government conlraels
3,906,003
4,310,731
107 350
Other Skills Development Scotland Contracts
3 959 853
4418 081
Other serviees provided
Unrestricted Unrestricted
funds
funds
2023
2022
Sale of Animal Care workbooks
Apprenticeship ￿rtIfiCation
Room hire
Skills Manager sales
Consultsncy
Other
35.516
24.525
234,694
53,698
78
51,021
3,548
213,817
17,546
239
348511
286 171
Page 27

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Investment Income
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Interest receivable
4,715
4,715
222
Analysis of total resources expended
Support
costs Total 2023
Direct costs
Staff costs
Total 2022
Charitable Activities..
Awarding and Learning
Grants and Contracts
Other services provided
2,633,740
2,417,237
3,552
2,635,702
1,196,407
1,174,875
515,290
252,960
164,720
5.784,732
3,866,604
1,343,147
4,468,941
4,208,703
1,142,732
Total
5 054 529
5 006 984
932 970 10 994 483
9 820 376
Staff costs have been allocated to activities based on the estimated time spent by staff members on
those activities.
Support costs have been allocated based on esb'maled time spent by staff members on those
acb'vities.
Total expenditure in the year was £10,994,48312022." £9,820,376) with £10,975,306 unreslricled 12022".
£9,818,880) and £19,177 reslricled12022. £1,496>.
Page 28

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Support Costs
Other
services
provided
Awarding & Grants &
Learning Contracts
2023
2022
Support Costs
Repairs & Maintenance
Depreciation
IT & Telephone
Rent & Rates
24,953
49,002
138,949
59,390
188,016
54,286
12,250
24,056
68,211
29,155
92,298
25,055
8,166
45.369
77,256
16,037
89.095
140,077
45,474 252,634 213,943
19,437 107,982
99,043
61,532 341,846 274,373
16,703
96.044
13,294
General office
G0Veman￿ costs Isee below)
Total
514 596
251025
167 349
932 970 817 986
Other
services
provided
Awarding & Grants &
Learning Contracts
2023
2022
Governance Costs
Audit & Account Prep. fees
Bad debts
Meeting and Board costs
Other Professional Fees
13,788
32,346
3,534
4,618
5,198
15,879
1,735
2,243
3,465
10,586
1,157
1,495
22.451
58,811
6,426
8,356
13,850
126,7401
2,063
24,121
Total Governance Costs
13294
Costs are allocated based on the staff allocated to each activity.
Auditorfs remuneration
2023
2022
Fees payable lo the Parent Charitable Company's auditor for the audit of
the Parent Charitable Company's annual accounts
Fees payable lo the Parent Charitable Company's auditor in respect of".
Audit of subsidiary accounts
Review of subsidiary accounts
Corporation lax
13.750
12,100
1,750
750
2.800
1,000
Page 29

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
10. Staff costs
Group
2023
Group
2022
Company
2023
Company
2022
Salaries and wages
Social security costs
Pension costs
4.188.344
409,631
177,518
14.072
3,682,455
359,887
155,858
1,902
4.188.344
409,631
177,518
14.072
3,682,455
359,887
155,858
1,902
Reslrucluring costs
4.789.565
4,200,102
4.789.565
4,200,102
Travellsubsislen
Value of Benefit in Kind
311,158
193,739)
240,013
1100,2401
311,158
193,739)
240,013
1100,2401
5,006.984
4,339,875
5,006.984
4,339,875
The costs and liabilities in ￿latiOn to the defined contribution pension scheme are allocated between
activities on the same basis as staff costs. Direct staff costs including pensions are allocated direcuy lo
the activities that the staff work on, based on the estimated b'me that the employees have worked on the
projects. Support staff pension costs a￿ allocated in-line with all support costs.
Reslrucluring costs of £14,07212022". £1,902) including redundancy costs of £11,71712022. £1,902) and
£2,35512022." £Nill of settlement costs were inCur￿d during the year. Al the balance sheet date £11,717
12022." £nill was accrued in ￿latiOn to redundancy payments that had been agreed but not paid.
The average number of persons employed by the Parent Charitable Company during the year was as
follows."
Group
2023
No.
Group
2022
No.
Company
2023
No.
Company
2022
No.
Government Contracts
Awarding and Learning
Central Servi￿$
36
73
24
37
68
20
36
73
24
37
68
20
133
125
133
125
Page 30

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
10. Staff costs {contlnued}
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
Group
2023
No.
Group
2022
No.
In the band £90,001- £100,000
In the band £100,001- £110,000
In the band £110,001- £120,000
In the band £140,001 - £150,000
The number of higher paid stsff to whom retirement benefits are accruing is 312022.. 31.
The total remuneration paid to key management personnel for their services provided to the Charity was
£491,664 12022.. £453,098). Key management personnel comprise of the trustees and the Chief
Executive and Senior Staff as detailed on pages 1 and 2.
11.
Trustees. remuneration and expenses
During the financial year and in accordance with the Memorandum and Articles of Association of the
Charity the sum of £7,292 was paid to Heather Peck 12022.. £12,500) and £5,208 was paid to David
Llewellyn 12022.. £nill for consultancy servi￿$ which the Chair provided to the Board during the year.
Heather Peck served as Chair during the year until 31 October 2022 and David Llewellyn served as Chair
from 1 November 2022. This year the Charity paid no other Trustees for additional work undertaken in
line with Ils Articles of Association12022' no remuneration was paid lo any other Trusteesl.
Pension contributions worth £nil were made on behalf of the Chair12022.. £nil}. Pension contributions
worth £nil were made on behalf of any other Truslee12022. £nill.
During the year ended 31 March 2023, expenses lotalling £8,526 were reimbursed or paid directly lo 14
Truslees12022 - £3,001 to 7 Trusleesl for meeting and travel expenses.
12.
Support of volunteers
The Charity is supported by the work of a signficanl number of volunteers who freely provide their lime to
attend to steering and advisory groups. In addition. businesses make their lime freely available to help
provide research information and assist in the development of occupational standards and frameworks
and training courses. 11 is difficult to put a value on this contribution.
13. Net income attributable to the parent company
The entity has taken exemption from presenting its own profit and loss account under section 408 of
Companies Act 2006. The nel income dealt with in the financial statements of the parent company is
£712,88512022 £1,192,160).
Page 31

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
14. Tanglble flxed assets
Group and Company
Long
leasehold
premises
Software and
Office
website
equipment development
Office
furniture
Total
Cost or valuation
At 1 April 2022
Additions
Disposals
510.465
3.590
1,788
2,884
235,258
61,349
13,0391
436.591
185.680
1,184,102
253,503
13,0391
At 31 March 2023
514,055
4,672
293,568
622,271
1,434,566
Depreciation
At 1 April 2022
Charge for the year
On disposals
305.691
19.707
1,548
614
169,515
38,002
11,8891
237.449
31.156
714,203
89,479
11,8891
At 31 March 2023
325,398
2,162
205,628
268,605
801,793
Net book value
At 31 March 2023
188.657
2,510
87,940
353.666
632,773
At 31 March 2022
204,774
240
65,743
199,142
489,899
15.
Fixed asset investmgnts
Listed
Investments
Group
At 1 April 2022
Additions
2,303,058
788,524
175.7351
128,5211
{712,7901
Disposals
Revaluations
Movement in capital account
At 31 March 2023
2,274,536
Page 32

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15. Flxed asset Investments Icontlnuedl
Investments
in
Subsidiary
Listed
companies investments
Total
Parent Charitable Company
At 1 April 2022
Additions
Disposals
Revaluations
Movement in capitsl account
102
2,303.058
788.524
175.7351
128,5211
1712.7901
2,303,160
788,524
175,7351
28,5211
{712.7901
At 31 March 2023
102
2,274.536
2.274,638
Page 33

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15. Flxed asset Investments Icontlnuedl
Prlnelpal subsldlarles
The following were subsidiary undertakings of the Parent Charitable Company..
Names
Company
number
Prlnclpal actlvlty
Class of
shares
Holdlng
Upskill UK Limited
06352816
The development and Ordinary
supply of IT
solutions based on
individual and
business
competency
Dormant
1000
Lantra Awards Limited
03567982
Ordinary
1000
The registered office of each of the above subsidiary undertakings is Lanlra House, Stoneleigh Park,
Coventry, CV8 2LG.
The financial results of the subsidiaries for the year were..
Names
Income
Expenditure
ProfitllLossl
I Surplusl
(Deficit) for
the year
Net assets
Upskill UK Limited
Lantra Awards Limited
25.550
122,502)
3,048
(137,1761
During the year ended 31 March 2018 Lanlra invested in a lotsl return fund seeking long temi growth, the
original investment of £1,000,000 was valued al £1,295,148 al 31 March 2023.
During the year ended 31 March 2022 Lantra invested in a multi-asset portfolio seeking long term growth,
the original investment of £1,000,000 was valued at £979,389 at 31 March 2023.
Page 34

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
16. Debtors
Group
2023
Group
2022
Company
2023
Company
2022
Due within one year
Trade debtors
Other debtors
1,645,553
7,282
32.061
212.934
3,426,719
7,564
36,014
223,666
1,645,553
7,280
32.061
212.934
3,426,719
7,564
36,014
223,666
Accrued income
Prepayments
1,897,830
3,693,963
1,897,828
3,693,963
Awrued income includes £31,460 ENRaW paid for from Social Farms and Gardens.
17.
Creditors: Amounts falling due within one year
Group
2023
Group
2022
Company
2023
Company
2022
Trade creditors
Amounts owed to group undertakings
Other laxalion and social security
other creditors
464,322
496,886
464,321
9,089
287.704
687
496,886
14,592
279,893
586
287.704
685
279,893
586
Deferred income
342,194
240,949
2,491,042
280,859
342,194
237,749
2,491,042
279, 109
Awruals
1.335.854
3,549,266
1.341.744
3,562,108
Group deferred income comprises contract income re￿iVed in advance of contract oulpulsl milestones
being delivered. This figure is calculated based on actual oulpuls al the year end compared to cash
received and includes any provisions to allow for non-delivery by the conclusion of the project timetable.
Deferred income includes £59,530 from Welsh Government for various projects 12022.. £1,499,363),
£149,311 12022.. £566,810) for end point assessments invoiced in advance and other deferred income of
£124,752 from Scottish Government for various projects12022.' £416,668).
Page 35

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Group
2023
Group
2022
Company
2023
Company
2022
Deferred Income at 1 April 2022
ReSoUr￿S deferred during the year
Amounts released from previous periods
2.491,042
217.577
{2,366,425}
2,224,775
2.491,042
442,068
217.577
1175,8011 12,366,425}
2,224,775
442,068
1175,8011
342,194
2,491,042
342,194
2,491,042
18.
Financial instruments
Group
2023
Group
2022
Company
2023
Company
2022
Financial assets
Financial assets measured at fair value
through profit or loss
Financial assets that are debt instruments
measured at amortised cost
2,070,808
1,906,506
2,057,230
1,902,926
1.684.896
3,470,297
1.684.894
3,470,297
3,755.704
5,376,803
3,742.124
5,373,223
Group
2023
Group
2022
Company
2023
Company
2022
Financial liabilities
Financial liabilities that are debt instruments
measured at amortised cost
993.660
1,058,224
999.550
1,071,066
Financial assets measured at fair value through profit or loss comprise of cash at bank and in-hand. The
fair value of the cash has been determined with reference to the bank statements an reconciling items at
the year end.
Financial assets that are debt instruments measured al amortised cost comprise trade debtors, other
debtors and accrued income.
Financial liabilities that are debt instruments measured at amortised cost consists of trade creditors, other
creditors, other tsxation and social security, and accruals.
Page 36

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
19. Statement of funds
Statement of funds - current year
Balance at
31 March
2023
Balance at 1
Aprll 2022
Transfers
Inlout
Galnsl
(Losses)
Income Expendlture
Unrestricted
funds
Designated
funds
Unrestricted
funds
Unrestricted
funds
4.803.396 11.728.917 110.975.306}
{28.521} 5.528.486
Total
Unrestrlcted
funds
4.803.396 11.728.917 110.975.306}
{28.521} 5.528,486
Restrlcted
funds
Frank Parkinson
Trust
Animal Care
Lead Body
R2
800
{400)
400
4.388
1,080
14,496
20
4,408
1,080
5,719
Instruelor Levy
10,000
(18,777)
20.764
10,020
119.177}
11,607
Totsl offunds
4,824,160 11,738,937 110.994,483}
{28,521) 5,540,093
Page 37

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
19. Statement of funds (contlnuedl
Statement of funds - prlor year
Balance at
31 March
2022
Balance at
1 Aprll 2021
Transfers
Inlout
Galnsl
(Losses)
Income Expendlture
Unrestricted
funds
Designated
Funds
10,000
110,0001
Unrestricted
funds
3,638,287 10,906,295
19,818,880)
77,694
4,803,396
Total
Unrestricted
funds
3,648,287 10,906,295
19,818,880)
110,0001
77,694
4,803,396
Restricted
funds
Frank Parkinson
Trust
Animal Care
Lead Body
R2
Instructor Levy
1,200
14001
800
4,385
1,080
4,388
1,080
14,496
5,592
11,0961
10,000
6,665
5,595
11,4961
10,000
20,764
Total of funds
3,654,952 10,911,890
19,820,376)
77,694
4,824,160
Page 38

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
19. Statement of funds (contlnuedl
The Frank Parkinson Trust contributed funds towards building costs.
Animal Care Lead Body funds provide support for the keeping of animals in educational establishments.
R2 provide funds to support the promotion of the arboricullure professional skills register to the industry.
The instructor levy is a course fund levy established to help new inslruclors cover the cost of skills
assessment. 11 is aimed to help overcome barriers to recruitment and will be used lo pay for..
Training and development costs for new instructors in certain specified skills
Supporting providers lo mentor new instructors
Funding instructional techniques courses
20. Summary offunds
Summary offunds - current year
Balance at
31 March
2023
Balance at 1
Aprll 2022
Galnsl
(Losses)
Income Expenditure
General funds
Reslricled funds
4,803,396 11.728.917 {10,975.3061
20,764
10.020
119.1771
{28.521) 5,528,486
11,607
4,824,160 11,738,937 (10,994,483)
128,521) 5,540,093
Summary offunds - prior year
Balance at
31 March
2022
Balance at
1 April 2021
Transfers
inlout
Gainsl
(Losses)
Income Expenditure
Designated
funds
10,000
3,638,287 10,906,295
6,665
5,595
110,0001
General funds
Reslricled funds
19,818,880)
11,4961
77,694
4,803,396
20,764
10,000
3,654,952 10,911,890
19,820,376)
77,694
4,824,160
Page 39

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
21. Analysls of net assets between funds
Analysls of net assets between funds - current year
Restrlcted Unrestrlcted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
400
632,373
632,773
2,274,536
2,274,536
3,957,431
3,968,638
11,335,854) 11.335.854)
11,207
Total
11,607
5,528,486
5,540,093
Analysis of net assets between funds - prior year
Restricted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
800
469,099
469,899
2,303,058
2,303,058
5,580,505
5,600,469
13,549,266) 13,549,266)
19,964
Total
20,764
4,803,396
4,824,160
Page 40

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
22. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles
Group
2023
Group
2022
Company
2023
Company
2022
Nel income for the year las per Statement of
Financial Acliviliesl
715,933
1,189,208
712,885
1,192,160
Adjustments for:
Depreciation charges
Gainslllossesl on investments
Dividends, interests and rents from
investments
89.479
28,521
140,077
177,6941
89,479
28,521
140,077
177,6941
{4.7151
970
1,796.133 11,297,258)
12,213,4121
276,134
12221
19,639)
970
1,796,135 11,297,857)
12,220,364)
250,828
12,0801
Loss on the sale of fixed assets
Decreasellincreasel in debtors
Inereaselldec￿aSe> in creditors
Net cash provided by operating activities
412.909
210,245
397.987
205,434
23.
Analysis of cash and cash equivalents
Group
2023
Group
2022
Company
2023
Company
2022
Cash in hand
2,070,808
1,906,506
2,057,230
1,902,926
Total cash and cash equivalents
2.070.808
1,906,506
2.057.230
1,902,926
24. Analysls of changes In net debt
At 1 April
2022 Cash flows
At 31 March
2023
Cash al bank and in hand
1.906,506
164.302
2.070,808
1,906,506
164,302
2,070,808
Page 41

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
25. Contlngent Ilabllltles
The Group has been in receipt of significant income from a variety of grant making bodies in recent years
and takes all reasonable steps to ensure it complies with the terms attached lo the receipts of all such
income. However, the Trustees recognise that this is a complex area and there is always a risk that some
funding could become repayable as a result of an inspection by these bodies.
It is not possible to estimate the value, if any, or timing of any such repayments.
26. Capltal commltments
Group
2023
Group
2022
Company
2023
Company
2022
Contracted for but not provided in these
financial statements
Acquisition of tangible fixed assets
79.362
21,184
79.362
21,184
27.
Penslon commltments
Under the definitions set out in FRS 102, the ITB Pension Funds is a Multi-employer pension scheme.
Lantra is unable lo identify ils share of the underlying assets and liabilities of the scheme. Accordingly
Lantra has taken advantage of the exemption in FRS 102 and has accounted for its contributions lo the
scheme as if il were a defined benefit contribution scheme. Lantra has set out below the information
available on the surplus in the scheme and the implicab'ons for Lanlra in terms of anticipated contribution
rates.
The pension cost is assessed every three years in accordance with the advice of an independent qualified
actuary using the projected unil valuation method. The objective of this method is to maintain a fund that is
expected to be sufficient to meet the expected oulgoings in respect of all benefi'ts accrued to the date of
the valuation. The latest actuari81 valuation of the scheme was as at 31 March 2022. The assumptions
that have the most significant effect on the valuation are as follows".
Pre-relirement discount rate
Posl-retirement discount rate
Rale of price inflation
Gill Yield Curve + 0.150/0
Gilt Yield Curve + 0.150
Implied by gilt curves
The assets in the scheme and the expected rale of return were..
Market value of assets at dale of last valuation
Surplus in scheme
£543.9 million
£24.8 million
Page 42

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
28. Operatlng lease commltments
At 31 March 2023 the Group and the Parent Charitable Company had commitments to make future
minimum lease payments under non-cancellable operating leases as follows..
Group
2023
Group
2022
Company
2023
Company
2022
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years
191.548
432.045
4,979,576
139,078
325,646
4,278,470
191.548
432.045
4,979,576
139,078
325,646
4,278,470
5,603,169
4,743,194
5,603,169
4,743,194
The following lease payments have been recognised as an expense in the Statement of Financial
Acts'vilies..
Group
2023
Group
2022
Company
2023
Company
2022
Operating lease rentals
201,148
192,681
201,148
192,681
29.
Guarantee
Lantra is a Company limited by guarantee. The members of the Company have each agreed lo contribute
£1 to the assets of the Company in the event of it being wound up. As al 31 st March 2023 there were 11
members12022.' 12 membersl of Lanlra.
Page 43

LANTRA
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
30. Related party transactlons
During the year Upskill UK Limited, a 1000/0 owned subsidiary, made sales to Lantra tolalling £21,941
12022.. £21,846>, additionally Lanlra made saleslrecharges to Upskill UK Limited tolalling £6,925 12022..
£5,849) an amount of £9,089 12022.. £14,592) was oulstsnding to Upskill UK Limitedlowed by Lantra.
Lantra also charged interest of £4,924 12022.. £1.8581 to Upskill UK Limited on the outstanding inter-
company loan of £156,54312022'. £156,543). All inter-company transactions are charged according to the
Service Contract that is in place be￿een the two entities.
Details of the balances and transactions with the Directors and Trustees are disclosed in Note 11.
Income of £Nil12022'. £1,379) from Countryside servI￿s Limited was received in the year until 26 August
2022, a company of which J Henning was a Director of until 26 August 2022. As of March 2022 £nil was
outstanding from Countryside Setvices Limited,. Countryside Setvices Limited did not have a common
director as at March 2023.
Income of £305 was received from AHDB Dairy Board in 2022, a company that P Rees was also a
Director of, AHDB Dairy Board was no longer a related party in 2023. As al 31 March 2023 £Nil 12022..
£961 was outstanding from AHDB Dairy Board.
Income of £88,869 12022.. £67,494) was received from Ringlink servI￿s Limited, a company that J
Craigie is a Director of. As at 31 March 2023 £9,681 12022.. £8,075) was outstanding from Ringlink
Services Limited. Expenditure of £53,029 12022.. £62,857) was incurred from Ringlink Services Limited.
£Nil was owing lo Ringlink at the year end12022'. £3,813).
Income of£50,681 12022.. 34,5851 was received from SRUC, a company that J Craigie and M Thompson
are Directors of. As at 31 March 2023 £13,17012022.' £19,164) was outstanding from SRUC. Expenditure
of £7,983 12022.. £7,302> was incurred from SRUC. £550 was owing lo SRUC at the year end 12022..
£3,297).
Income of £3,369 was received from Borders College in 2022, a company that M Thompson was a
Director of until January 2022. As at 31 March 2022 £491 was outstanding from Borders College, Borders
College was not a related paty as at 31 March 2023. Expenditure of £2,525 was incurred from Borders
College in 2022.
Income of £39,640 was received from Eastec UK Ltd, a company that S Batten is a Director of. As al 31
March 2023 £4,061 was outstanding from Eastec UK Ltd. Eastec UK Ltd was not a related party in 2022.
Income of £229 was received from Countryside Learning Scotland, a company that M Thomson is a
director of and expenditure of £250 was incurred from Countryside Learning Scotland. Countryside
Learning Scotland was not a related paty in 2022.
Expenditure of £1,410 12022.. £Nill was incurred from Janglebean Ltd, a company that J Craigie is a
Director of.
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