Company registration number 02868750 IEngland and Wales) Charty registration number 1029S26 {England and Wales) BASINGSTOKE ITEC LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
BASINGSTOKE ITEC LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr T Rogers Ms M D Roberts Mr M Jones Mr M Garvey Ms K M Easton Senlor management Mark Hammond Chief execuliver officer Country of incorporation United Kingdom (England and Wales) 02868750 Charlty reglstratlons England and Wales Northern Ireland 1029526 Reglstergd offl¢g Desklodge Basing View Basingsloke Hampshire UK RG214HG Independent examiner Tumer & Co 10a While Hart Parade London Road Camberley Surrey UK GU17 9AD
BASINGSTOKE ITEC LIMITED CONTENTS Page Chairman's slalement report ststement of responsibilities Independent examiner's report Stslemenl of financial activities Balance sheet Notes lo the financial statements 13-20
BASINGSTOKE ITEC LIMITED CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 JULY2025 11 has been my continued pleasure to serve as Chair of the Board of Trustees for Basingsloke ITEC into the 2024125 academic year. Basingsloke ITEC remains an Important local training provider supporting young people Into the ever change world of digitsl careers. Our position as a charity means we are led by our values and sense of community above profil and our profile as a small independent organisalion has made us agile in responding lo the needs of local people. Our board is an entirely voluntsry members made up of local professionals eager lo 'give back, to the community and afford opportunities in apprenticeships and vocation learning that can truly transform lives. In this retrospective I will reco nise the efforts of our trustees who give their time to support the hardworking team at Basingstoke ITEC. I have worked within the Further Education sector for more than 25 years and l enjoy bringing my perspective lo support the organisalion. Apprenticeships, Trailblazers, Bootcamps, and the Lifelong Leaming Enlillement are just some of the initiatives undergoing significant change or expansion in concert with the never-ending changes lo funding rules, bureaucracy and policy. It Can be tough for a small provider lo weather these demands, bul Basingsloke ITEC continually rises lo the challenge. Under the leadership of our CEO, the Charity has suwssfully transformed many of ils bell weather fortunes. Our final achievement rate of more than 71 significantly surpassed the national average indicating that quality still sits at the heard of what we do. Imthin our Quality Improvement Plan we recognise that not all programmes have performed so well and resources are being committed to increase achievements in the minority of under-perfomiing programmes. Yel with many of our apprenticeships delivering 1000/0 achievements the positive oulook appears herè to remain. The charity has entered a period of excellent finanaal health. The team rèturned one of the highest surpluses in recent limes lo underpin the recovery of the organisalion and provide stsbilily and surely lor all stakeholders. The charity also look part in a practice Ofsled Inspection as part of the new Education Inspection Framework lo prepare the team for a full inspection in the ¢oming years. In 2025 the charity celebrated ils 40th anniversary. This is a rare achievement for a charitable local provider and a key point lo mark the lives the organisation has positively touched over the decades. In 2024125 we enjoyed a stable membership on the board. However, al the time of this report we bid farewell to our long serving Finance Trustee, Mike Jones, who is reliiing from the board following 5 years of loyal service. Mike is the longest serving ttuslee and his steady hand on thè finances will be missed - from me and all the team sincerely thank Mike for everything he has done for Basingsloke ITEC. We are fortunate to welcome new member Ailsa Kerry who is a Chartered Accountant and ll11 tske the lead on financial matters. Basingstoke ITEC is in a positive and strengthened Position to renew its commitment to the people of Basingstoke and beyond. It combines an eXperiend team led by an accomplished CEO who in turn is supported by a diversity of talent on the board. From safeguarding lo achievements, from finance lo quality improvement, the organisation's best days are ahead of it.
BASINGSTOKE ITEC LIMITED CHAIRMAN'S STATEMENT ICONTINUED) FOR THE YEAR ENDED 31 JULY2025 Chaimian Date 2210412026...........
BASINGSTOKE ITEC LIMITED REPORT IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 JULY2025 The trustees present their annual report and financial statement5 for the year ended 31 July 2025. The financial slalemenls have been prepared in accordance with the accounting policies set out in note 1 to the financial slalements and comply with the 's governing document, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Basingsloke ITEC was estsblished in 1985 and was a division of the Basingsloke Youth Action Trust Lld18 registered charilyl, lo offer all young people, itrespeclive of their academic record or social issues a chance lo fulfil their olenlial. In 2017 the BYAT name was removed. There is a Board of Trustees, this includes non-salaried Directors, Secretary, and a Chairman. Basingsloke ITEC specialises in the dèlivery of Businèss Services with a particular focus on Information Technology and Digital Skills. A range of apprenticeships standards are provided to meet the local and national skill shortages. The Local Enterprise Partnerships have listed digital skills, analytical and in particular Cyber security and sofbNare development as priority subjects for the country and in particular the regional M3 corridor and Thames Valley in which ITEC predominantly operate. Additional data continues to demonstrate significant digital and IT skills shortages for the M3 corridor, Thames Valley and across the home counties. The number of jobs is increasing each quarter and salaries are increasing faster than other occupations," however this significantly slowed In the last quarter of this academic year. The trustees with the support of the Chief Executive Officer have a vision and strategic priorities lo create a curriculum based on the skills shortages for the employers we aim lo serve. Our curriculum offer is developed in conjunction with our vision, mission and strategic priorities that are approved by our trustees and are developed to meet recognised and recorded skills shortages and needs of the employers we support.
BASINGSTOKE ITEC LIMITED REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Objective5 and activities The Charity's aims, and differences il seeks lo make through its activities. The advancement. education, and training of young people land the upskilling of older workers) through the development of their IT and business skills thus providing a solid foundation for their future careers. The Charity's strategies for achieving these aims. Supporting the recruitmènt and training of apprentices for learners in skill shortage areas such as IT and business-relaled areas. The advancement, education, and training of adutts on selected courses only. We will provide enrichment training Courses in addition lo the apprenticeship. requirements. Including mental health. sexual health, sexual harassment, and career development. Achievement of these objectives encourages employers to retain apprenticeship leamers and to integrate them into their companies. Allowng companies to relain and grow which allows us to draw down planned Department for Education l DFE") Maximising DFE funding and procuring income from non-levy payers, levy payers, through levy transfer, and our subconlracl account wth Wesl Berkshire Training Consortium. The significant activities undertaken lo contribute lo the achievement of the aims and objectives.
BASINGSTOKE ITEC LIMITED REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Publio bgnefit The have paid due regard to guidan issued by the Charity Commission in deciding what activities the should undertake. Achievements and performance Significant actVille$ and achievements against objectives Charitable activities Ofsted Good Provider The aims of the company in training young people were vigorously pursued in line wth our objectives and those of the DFE. 48 learners were enrolled during the accounting period. The number of enrolmenls are up and are expected lo grow 60Q/o of new learner stsrts is repeal business. 500kn of our starts are from levy paying organisation and 25Q/o from SMES. The overall completion rate for this accounting period is 71Q/o. this is Compared a national average of 51°h. Our retention rale 66°h is compared lo the national average of 53°A. This is distorted by low numbers Multi-channel Marketing for example only had one leamer due lo achieve, ICT 17 people had 8 retention rale of 800kl. The aims of thè Company in training young people were vigorously pursued in line wth our objectives and those of the Education and Skills Funding Agency. CASE STUDIES Jane - Joined us as a Digital Marketer apprentice in 2024 working with a small charity. After studying hard, Sally achieved a distinction and went on to secure a marketing role wth a major west end show. John - Joined us as an ICT apprenti in 2020 he achieved a pass In 2022 and progressed lo a Level 4 Cyber Security apprenticeship and secured 8 gieal role In the industry. Michael - Joined as an IT Solutions apprentice in 2023 and achieved a distinction. At the end of his apprenticeship, he was offered a role with an international managed service provider. Billy- Joined as Software Developer apprentice, unfortunately Billy was made redundant in the spring of 2025. Through support of food parls. travel expenses and a new laptop from Basingsloke ITEC Billy was able to complete his apprentiShiP and secure a new role.
BASINGSTOKE ITEC LIMITED REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Financial review Against the backdrop of limited resources and uncertainties over funding, il is difficult to plan more than one year ahead. At the year end the company had nel assets of £217.016 and made a profil Illossl of £100.419 12024 £2,691). Accordingly, the Board of Management had lo implement a redundancy plan to assure the long-temi survival of the charity. They have had regular monthly meetings and are confident that the outlook is more positive. Employers Employers contributions count for approximately 1.1 % of our annual income and we received approximately 14.90/0 of Income through delivery of subcontracted contracts. The company plans continuing the activities outlined above in the forthcoming years subject lo satisfactory funding arrangements. The trustees meet quarterly and are updated regularfy on the surplus and deficit and the effects of the new funding and are confident of that although the next year might be challenging the projections are looking favorable and will be constantly monitored. Reserves policy There are two sources of funding." Education Skills Funding Agency. Around 840A of our funding comes from the ESFA, this funding is paid on the number of learners in training and the outcomes of these learners. ReseThes policy It is the policy of the that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the 's current activities while consideration is given lo ways in which additional funds rnay be raised. This level of reserves has been rnaintained throughout the year. structure. governance and management The charity is controlled by ils governing document, a deed of Irusl, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.. The charity is a Charitable Incorporated Organisation, registered on 3rd November 1993. It is governed by its constitution. The charity is controlled by its governing document , a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The organisation is a registered Charity number 1029526 started in 1984 and incorporated on 3rd November 1993. The company was estsblished under a Memorandum and articles of association which sel out the objectives and rules of the company. In the event of the company being wound up members are required to contribute and amount not exceeding £1. The trustees who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were.. MrT Rogers Ms M D Roberts Mr M Jones Mr M Garvey Ms K M Easton
BASINGSTOKE ITEC LIMITED REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Recmilment and appointment of trustees The directors of the Company are also the Iruslees for the trustees for the purpose of Charity Law. The company is governed by a Board of Management . Members are elected to serve for a period of one year after which they musl be re-ele¢led at the next Annual General Meeting. Recruitment of new members is carried out by the existing members and the aim is to include a balance of members, for example.. business, local council and other interested parties. We also try to ensure we represent the community in terms of equality and diversity. The Trustees meet al least quarterfy, lo discuss matters affecting the charity, review the financial position of the charity, and review the charity's activities and performance against ils objectives. New ttuslees may be pul forward by current Iruslees and are considered according lo relevant experience, qualifications, or specialist knowledge. Potential risks of all events, projects and engagements are carefully considered as part of the charity's stsndard governance procedures. and suitable oversight and contracts are put in place. Qualifying IhiKlparty indemni1yprovisns The company has made qualifying third-party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting dale. Owanisalional stmctu At present Basingsloke ITEC has a Board of Management of five members12024- five), which Includes the Chair. The Board of Management have delegated the daY-tdaY re5ponsibililies of the company lo the Chief Executive Officelmr Mark Hammondsl. The Board of Management meets every quarter, and the Chaimian meets with the CEO every four weeks to discuss day lo day issues. Management The organisation is operationally managed by the Chief Executive offi (Mark Hammond). Remuneration The trustees approve remuneration for annual salary increases, and new staff (when required). Policies The following policies are in place and reviewed at least annually or when changes are made lo working practices or agency tules. The ttuslees are committed lo the pastoral care and safeguarding of 51aff and leamers. Main policies Safeguarding and Prevent Health and Safety Complaints Subcontracting Strategy and Provision Overview ITEC conlinuily Plan Equality and Diversity Inclusion Plan ICT acceptable use policy for staff and learners Anli-Haras5menl Policy Dats Protection All policies Can be found on our website. www.basingslokeilec.co.uk Induction and training of Iwstees All new trustees allend induction training, which is carried out by the manager of the company. This includes the following.. Background of the company Obligation of Board of Management Committee Members Accounts Current slalislics Safeguarding Training Criminal and DBS checks strategic and Marketing aims.
BASINGSTOKE ITEC LIMITED REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Most funding is received from central Govemment (via the Education Skills Funding Agency). This is the main partner of the company. Other parties are Ioc81 employers who work with our learners and the local Council Basingsloke and Deane Borough Council. The report was approved by the Board of. Mr M Garvey Date.. -.2210412026.........................................
BASINGSTOKE ITEC LIMITED STATEMENT OF RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY2025 The trustees who are also the directors of Basingsloke ITEC Limited for the purpose of cornpany law, are responsible for preparing the Report and the financial slalements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pracli¢el. Company law requires the lo prepare financial statements for each financial year which give a true and fair view of thè stale of affairs of the and of the incoming resources and application of resources, including the income antl expenditure, of the charitable company for that year. In preparing these financial stalemenls, the are reqUId to". select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP", make judgements and estimates that are reasonable and prudent., and prepare the financial statements on the going concern basis unless il is inappropriate to presume that the will continue in operation. The are responsible for keeping adequate accounting records that dis¢lose with reasonable ac¢ura¢y al any time the financial position of the and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
BASINGSTOKE ITEC LIMITED INDEPENDENT EXAMINER'S REPORT TO THE OF BASINGSTOKE ITEC LIMITED I report to the trustees on my examination of the financial slalements of Basingstoke ITEC Limited (the I for the year ended 31 July 2025. Responsibilities and basis of report As Irusleeslhe of the company land also ils directors for the purposes of company lawl, you are responsible for the preparation of the financial slalements in accordance wfch the requirements of the Companies Act 2006. You are satisfied that the companyfinancial statements of the are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the financial stslemenls of the are not required lo be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the 's financial statements carried out under section 65 of the Charities Act (Northern Ireland) 2008 and section 145 of the Charities Act 2011. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act INorthern Ireland) 2008 and the DiOI10nS given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examinerfs ststement Since the company'slhe 's gross income exceeded £250,000, the independent examiner musl be a member of a body listed in section 145 of the Charities Act 2011 and section 65 of the Charities Act (Northern Ireland) 2008. 1 confimi that l am qualified lo undertake the examinaty'on because l am a member of uk, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the as required by section 386 of the Companies Act 2006. the financial slalements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the finanaal statements give a true and fair view, which is not a matter considered as part of an independent examination,. or the financial slalements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounting and reporting by Charities applicable lo ¢harilies preparing their financial statements in aCrdan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no COnrn$ and have ¢ome a¢ross no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Turner & Co 10a While Hart Parade London Road Camberley Surrey GU17 9AD UK Date.. 10-
BASINGSTOKE ITEC LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY2025 Unrestrlcted Unrestrlcted funds funds 2025 2024 Notes Income from: Donations and legacies Charitable activities Charitable commercial training Education & skills funding Co-investmenl cost for tiaining 1,649 36,465 406,874 47,121 272,159 3,513 Totsl Income 444,988 322,793 Expenditure on- Charitable activities Charitable trading Education & skills funding 32,745 311,824 47,232 272,870 Total charitsble expenditure 344,569 320,102 Totsl expenditure 344,569 320,102 Net income and movement in funds 100,419 2,691 Reconciliation of funds: Fund balances al 1 August 2024 116,597 113,906 Fund balances at 31 July 2025 217,016 116,597 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
BASINGSTOKE ITEC LIMITED BALANCE SHEET ASAT31 JULY2025 2025 2024 Notes Fixed assets Tangible assets 11 2,190 36 Current assets Debtors Cash at bank and in hand 12 15,530 225,802 48,779 97,940 241,332 146,719 CreditoTr: amounts falling due within one year 13 I28,5L) 130,1581 Net current assets 214,826 11e,561 Total assets less current liabilitios 217,016 116,597 The funds of the Unrestricted funds 15 217,016 116,597 217,016 116,597 The company is enlilled to the exemption from the audit requirement contsined in section 477 of the Companies Act 2006, for the year ended 31 July 2025. The directors acknowledge their spOnSIbl1117es for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial stalemenls. The members have not required the company lo obtain an audit of ils financial stslemenls for the year in question in accordance with section 476. These financial statements have been prepad in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the on . ..2210412Q26.................... 12-
BASINGSTOKE ITEC LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2025 Accounting policies Charity inforniation Basingsloke ITEC Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Desklodge Basing View, Basingsloke, Hampshire, RG21 4HG, UK. 1.1 Basis of preparation The financial statements have been prepared in accordan with the company's governing document, the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021". The is a Public Benefit Entity as defined by FRS 102. The company has taken advantage of the provisions in the SORP for charities not to prepare a slalement of cash flows. The financial slalements are prepared in sterling, which is the functional CurncY of thè company. Monetary amounts in these financial stslemenls are rounded lo the nearest £. The financial slalements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and lo include investment properties and certain financial instruments al fair valuel. The principal accounting policies adopted are sel out below. 1.2 Going concern At the time of approving the trustees financial statements, the have a reasonable expectation that the has adequate resources to continue in operational existen for the foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds ale subject to specific conditions by donors or grantors as to how they may bè used. The purposes and uses of the restricted funds are set out in the notes lo the financial slalements. Endowment ftjnds are subject lo speryfic conditions by donors that the capital musl be maintsined by the . 1.4 Income Income is recognised when the company is legally enlillèd to it after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income wll be received. Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless perf0mlan conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or olhewse if the company has been notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a conlingenl asset. 13-
BASINGSTOKE ITEC LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 JULY2025 Accountlng pollcles Icontlnuedl 1.5 Expendltu Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, il is probable that a transfer of economic benefits will be required in selllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The c051s of each activity are made up of the lolal of direct cost5 and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated dire¢lly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation. net of depreciation and any impaimient losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings Computers 200/0 straight line 33% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the 51alement of finanrAal activib"es. 1.7 Impairment of fixèd assets At each reporting end date, the reviews the carrying amounts of ils tangible assets to determine whether there is any Indication that those assets have suffered an impairment loss. If any such Indication exists, the recoverable amount of the asset is eslimaled in ortler to determine the extent of the impairment loss (if any). 1.8 Cash and cash oqulvalents Cash and cash equivalents indude cash in hand, deposits held al call wth banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowngs in current Iiabililies. 1.9 Financial instruments The company has elected lo apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the wmpany's balance sheet when the becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wf(h the net amounts presented in the financial slatemenls, when there Is a legally enforceable right to sel off the recognised amounts and the is an intention to sellle on a nel basis or lo realise the asset and setue the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction ¢osls and are subsequently carried al aM0'Sed cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 14-
BASINGSTOKE ITEC LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 JULY2025 Accountlng pollcles Icontlnuedl Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constilules a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of Interest. Financial Iiabililies classified as payable thin one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as CLJrrent liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenuy measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial Iiabililies are derecognised when the company's contractual obligations expire or are discharged or cancelled. 1.10 Retirement bènefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estlmatss and Judgements In the application of the company's accounting policies, the trustees are required to make iudgemenls, eslimales and assumptions about the carrying amount of assets and Iiabilrties that are not readily apparent from other Sour$. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted funds 2025 Unrastrictgd funds 2024 Donations and grfts 1,649 15-
BASINGSTOKE ITEC LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 JULY2025 Income from charitable activities Unrestrlcted Unrestrlcted funds funds 2025 2024 Charitable commercial training Charitable commercial trading 36,465 47,121 Educatlon & skllls fundlng Charf(able commercial trading Other income 398,374 8,500 266,159 6,000 Co-investment cost for training Chartsble commercial trading 3,513 443,339 322,793 16-
BASINGSTOKE ITEC LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 JULY2025 Expenditure on charitable activities Education & Educatlon skills training 2026 Total Heading
ac982
2024 skills training 2024 Total 2026 2026 2024 Direct costs Staff costs Depreciation and impairment Government employee incentive Insurance Telephone Printing, postage & stationery Advertising Office supplies Trainee allowance & other training Staff training Travel costs Computer running costs Subscripb'ons Staff welfare Bank Charges Entertaining 200,345 200,345 209,092 209,092 235 235 529 529 9,000 1,554 1,536 9,000 1,554 1,536 6,500 1,843 2,261 6,499 1,843 2,261 10 4,456 19 103 3,420 68 103 3,420 68 4,456 83,456 83,456 36,178 180 3,771 6,598 1,120 1,022 187 36,178 180 3,771 6,598 1,120 1,022 187 3,545 5,959 806 688 187 29 3,545 5,959 806 688 187 29 311,827 311.825 272,872 272,871 Share of support and governance costs (see note 6 Support 32,744 32,744 47,231 47,231 32.744 311,827 344,569 47.230 272,872 320,102 Analysls by fun(1 Unrestricted funds 32,745 311,824 344,569 47,230 272,872 320,102 Support costs allocated to activities 2025 2024 Operating lease charges Governance costs 12,936 19,808 18,648 28,583 32,744 47,231 Analysod bglween: Heading #ac982 32,744 47,231 17-
BASINGSTOKE ITEC LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 JULY2025 Net movernent in funds 2025 2024 The net movement in funds is slated after chargingllcreditingl.. Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets Operating lease charges 3,300 235 12,936 3,300 529 18,648 None of the trustees lor any persons connected wth them) received any remuneration or benefits from the during the year. Employ99$ The average monthly number of employees during the year was.. 2025 Number 2024 Number Employment costs 202$ 2024 Wages and salaries Social security costs Other pension costs 183,331 12,639 4,375 186.243 18,614 4,235 200,345 209,092 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows.. 202S 2024 Aggregate compensation 56,794 54,610 10 Taxatlon The charity is exempt from laxalion on its activities because all ils income is applied for charitable purposes. 18-
BASINGSTOKE ITEC LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 JULY2025 11 Tangible fixed assets Fixtures and fitting5 Computsrs Total Cost At 1 AugLJSt 2024 Additions Disposals 1,130 17,472 2,388 11,5801 18.602 2,388 {1,5801 Al 31 July 2025 1,130 18,280 19,410 Depreciation and impaimient Al 1 August 2024 Depreaation charged in the year Eliminated in respect of disposals 1,130 17,435 235 11,5801 18,565 235 11,5801 Al 31 July 2025 1,130 16,090 17,220 Carrylng amount Al 31 July 2025 2,190 2,190 Al 31 July 2024 36 12 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 497 15,033 4fJ,243 8,536 15,530 48,779 13 Creditors- amounts falling due within one year 2025 2024 Trade creditors Accruals and deferred income 14,880 11,626 14,090 16,068 26,506 30,158 14 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined Contribution schemes 4,375 4,235 19-
BASINGSTOKE ITEC LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 JULY2025 14 Retlrement beneflt schemes Icontlnuedl The company operates a defined Contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independenuy administered fund. 15 Unrestrlcted funds The unrestricted funds of the charty comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These Include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. At 1 August 2024 Incoming Resour¢es resources expended At31 July 2025 General funds 118,597 444,988 1344,5691 217,016 Previous year: At 1 August 2023 Incoming resources Resources expended At31 July 2024 General funds 113,906 322,793 1320,1021 116,597 16 Operating lease commitments 17 Related party transactions There were no disclosable related paty transactions during the year12024 - none). -20-