REGISTERED COMPANY NUMBER.. 02931254 (England and Wale51 REGISTERED CHARifi NUMBER: 1049341 Report ofthe Truslees and Audlted Financlal Statements forthe Year Ended 31 Mar¢h 2022 E.Ll.T.E Supported Employment Agency Limited DHB Accountants Limile(J Chartered Accountants StabJtory Auditors 110 Whitchurth Road Cardrfr CF14 3LY ELI.T.E Supportod Employmnt Agency Limtted Contents of th• Flnanclal Statements forthe Y•ar End•d 31 March 2022 R•port of the Trustees 1 to 7 Raport of the Independent AudllNs 8 10 11 Staterngnt of Financial A¢tlYltios 12 Balance Sh￿t 13 Cash Flow Statement 14 Not•s to tho Cash Flow SLitement 15 Note5 to the Financial Statements 16 to 26 E.Ll.T.E Supported Employment AgerKy Limited f¢rthe Year Ended 31 March 2022 The tnJsta8s who are also directors of the charity for the Wrposes of the Companies Act 2(NJ6, present their report with the financxal 5tstements of the (*arity for the year ended 31 March 2022. The trustees have adopted the promsions of Accounting arKI Repo￿n9 by Charilies.. Stslemenl of Recommended Practice applicable to charities preparing their 8ccounts in 8ccDrdarKe the Financial RepO￿ng Standard applicable in the UK and Republic of Ire5arKI IFRS 1021 (effective 1 January 2019). OBJECTIVES AND ACnVITIES Objactivos and aims ELITE is govemed by its MemorarKlum and Arlides of Assw8tion. These stsle ELITE'S ot4ects: The relief of those in neod, particularfy in South and West Wales, by reason of disability. youth. 89e, ill-health, finanaal hardship or other disadvantage by aiding them to advan￿ into employment 8nd in pursuing any other ¢)bjects for Ihe wellknng of those people which are or hereafter may be deemed by law lo be charitable. To promote the rights and v￿l￿being of those rw)le in ￿ed through helptrrtj secure paid employment. The Msion that shapes our annual ￿tbV7tieS remains the promotion and fostering of equalty of opportunity Tor people with disabilities and those at disadv8ntsge by the promsion of one to one support and training of individuals 8s follows.. - Guidance and counselling incorporating speeialised pers￿ Centr￿ assessments. acbon planning and local employment awareness. Employment prepardtion cwrses incorporatiro employrnenl vi￿ls, employThenl tssters, wotl( a￿￿Tene$S factors such as interwew preparation, health & safety. rights & responsibilibes and so(aal awareness. Enabling indiwduals to access arHJ mainbn paid emFAoyment via speualised and slwctured one4%>one support 8nd training. Raising awareness to local eM￿0yerS in rdation to good WaCti￿ in the r￿%￿l￿ent alltl employment of people wth disabilities. The charity also has the general aim of oJntribJtiNJ to the qualty of lrfe of people wth disaknlitie5. throughout South, Wesl, MKI, E8St and North Wales by expanding their horizons through Ihe above actrwties which enable improved fjrk8nces, s￿￿al integralion and development of independence. Public benefft In shaping our objectives for the year and planning our acliwt*s, Tn* have considered the Charity Commission's guidance on wblic benefiL I￿￿dIng the guidance on public ￿nefit and fee charging. The agency relies on grants and fees generated to cover ifs operab.ng wsts. In setting our costs and the Tange of grants that we pursue. the Trustees give careful ￿nsideratiOn to the acce55itxlity of our seNce for all. Pa￿1 ELI.T.E Supported EmptyMnt Agoncy Limlted for t￿ Year Endgd 31 March 2022 ACHIEVEMEpif AND PERFORMANCE Charitable a¢tivrties ELITE'S key aims are trj develop the V￿ational fPFQrtunities, 8ctsMknes. and experiences of disabled and disadvantaged people. Although we felt 8 sense of relief to ￿ recovering from the Cowd pandemic, 2021122 remained a Challenging year in temis of planning and engagement. Whilst resuming our focus of enabling people to gain paid employmenL we also recognised Ihat slill ￿ded lo consider the anxiety of our participant group. creating a blend of supw)rt to rJJr disabled and disadvantsged communities, who had previously needed to shield. Our Services therefore wjed lo commence (thfiden￿ ￿lIding activities. support anxiety, and mental heallh issues, recOnn￿tiOn ¥￿th i#)mmunity actI￿ty. vthilst progressing Individuals to amkntions of e￿￿O￿TrenL training. or vdunteering. We continued working wth ￿ople through a tAended approath. supporting people to retum lo their c£)mmunities and 8mkntions, at their pace. %thich was so imwrtant to confide￿, mob"vation. and success. We have also maintained this methc*J of worknng as part of our tr*sl practi￿ methods, in line wth our enmronmentsl ethos, work to hNnelrfe balance for slaff and efficiery Measu￿5. Funding that continued from Ihe previous year from WCVA, for these seNces and lo aid our recovery, plus fL¢ture development, was inlegral lo our success. knke%Mse, the Lottery ￿ fund cHJr Engage to Change Project. providiTrJ employment experiences and opwrtunities for youths ￿ leaming disabilities I difficulties and autism, were extremely SUPFrt)rbve. Tr*y reugnised the challenges we'd experienced during the pandemic and agreed through the lead parher, Learning Disability Wales, that the underspend on the overall project, could be ublised for an extens¢on ￿rK>d. lo address proFX)sals of bjiure activitses. This was so crucial to our legacy work. The Welsh European Funding offi￿ IWEFOI also made similar Considerations, in support of our Jobsense East Wales proiect for rw)le sight loss or who are blind and those with hearing 1055 or who are deaf, to utilise an underspend on the Project, {due to limited acts.vity during the parKlemicl, to axlend the project until December 2022, to enable us to provide muth needed employment *Nces for the Prq'ecl parts.￿pant$. This enab￿ us to have a pL4ming lifdine. In light of the extension on the Jobsense East Wales Project, we c¢￿tinUed cwr discussions and ap￿l¢8￿.0n lo WEFO for a Jobsense West Wales and Ihe Valleys Pr(4ect. 11 vrds a SOU￿ of celebration when this Project Was awarded in September 2022, to September 2023. This Project is led by ELrrE. working through a collaborative partnership wth MTIB, COS and Agoriad Cyf. to ensure that our Sen￿￿$ 8nd ambitions for people with sensory loss, operate equalty across all of Wales, rather than be a postcode lottery seNce. We ￿rna1ned consa￿8 of the ￿rsonor￿red approach v* needed to take wth indmduals and in parttcular address and maintain their mental health foifowng the parKlemic, ¥thi¢h was not covered by any of our existing projects. We therefore submitted an ap￿ICation to the Bardays 100 x 100 fijnd and We￿ overyoyed that they recognised the importance of tyjr work by providing us ￿ 8 grant of £1¢J).000 lo conduct this and other work. This essenb.al work woukl not have been F%)551￿e v￿Out the intervention of this funding, and we a￿ in¢redibly grateful to 8ardays for their reo)gnition of this p05t pandemic need of communities in Wales. Our ongoing relationshFp Yrith Rhondda CYT￿￿ Taf C(KJnty CounrAI never wavered during the pandemic and they maintained their funding dLJring bolh 2020r21 and 2021r22, enabling us to support residents of this county with leamiro disabilities and other disabilities. Through our reporting system, they recognised how we had persevered to continue and diver5tfy our services to meet Ihe needs of otjr joint parts"cipants. Throughout 2021122 we enabled those indmduals to thrive and grow, supporting them on a one-to-one basis. building Confiden￿ and self-esleem. through our promsion of safe covid trainirrfJ and raising their digital skills to operate remotety. This skill enhan￿ment enabled them to progress lh￿r vocational ambitions. g8in employment or get doser to the pbs market Page 2 E.Ll.T.E SupP￿ted Employment Agoncy Limited Report of thg Trustees for th8 Yw Ended 31 March 2022 During this period, the UK Govemmenl launched IJ4D new emtloymenl programmes, via Ihe Department for Work and Pensi(￿S fvnding. The first lo be launthed Swds the bfjt*start Programme to enable unemployed youths, aged 16 to 25 to gain a 6 m¢￿th paid [￿a￿￿ent. ELtTE be(sme b)th a lfjckstart Employer and Kickstart Gateway for other employers. Through our coordination with Jobcentre Plus and methods of recJuilment engagement we enabled the recruitment of 32 lfjckstart recruits at ELITE. in a variety of posts. including finance, adminislrath)n. eM￿Oyment mentrms, trainee machinists at ¢xJr s(tial enterprise ELITE Clothing Solubons. plus recyding (perab"ves. marketing assistanl and scannirKJ assistants at ELITE Paper Solutions. We also supported our employer sector to recruit a further 33 young people wa this scheme through our Gateway status. This six month programme was extremely su￿sSIv1 for all young people recruited by ELITE and maintained 29 young people in our employment, enabling their further development through a variety of sector apwenticeships, induding supwting a number of young disabled people to acces5 apprenticeships. This was effe(Jive in temis of the Welsh Govemmenl of supported apprentI￿shIpS and the strategic Employability Plan of enabling indusion. ELITE were also proactive to engage with Prime Pwders in tems of Ihe DWPS main adult employment programme of Restart. Whilst the tender for this programme was issued in Autumn 2020, continuing into the new year of 2021, we recognised that it was 8 fithre programme we needed to 5UPPOrt and maintsin our seM¢es. We were fortunate to be involve in the Serw applicatM)n lo DWP, who were awarded the contract in April 2021. The Programme commenced in July 2021. whith saw ELrrE recruit a new team of staff lo offer this new service. The quality of otjr se￿￿5 has a￿tsYS of prime importance to EL ￿E. We maintained the Gotd status of our Investor in People Award due to our investsnenl and supwjrt of our team of staff. our inclusive employment was also recognised through this process, alor¥J our stsff welfare consider8tions. We supported a considerable level of our trainirKJ staff lo ￿ther athieve or progress thwr training in the Level 3 Cerh"ficale of Supported Employment Practitioners ICertSEI. We are rK)w recognised as h8Mng the largest team of staff qualified in this S￿aliSM in Wales. and [K)ssit￿Y Ihe UK. In line this we also supported our Partner organisations lo undertake this training our training enterprise, ELITE Training Solutions. This engagement extended fijrther Ythen ￿ undertcrt)k pilots for Welsh Govemment in the Supported Apprenti￿shIp Programme and Supported TraIr￿ShiP Programme, enabling the engagement and success in these programmes for people with leaming disabilities. leaming drfficulties and autism. In line wth these govemmenl programmes, we also provId￿j training in Disability Awareness. support lo achieve Disability Confidont ststus, mentorship training an¢J the Level 3 CertSE. to a range of other training prowders. Staff and support progr8mrnes' staff. ranging from Cambrian Training. Itec, Pembrokeshire College, Communities for Work, Bridgend College, to name but 8 few. We believe their t*tter understanding of individual need, enhanced the work urKlertaken in both pilots. ￿8blIng Iheir sJJccess. which mOv￿j them forward for future years. I￿1r social enterprises continued to supw)rt a range of disabknl and disadvantaged people. Our diversffication of creating Eco Animal bedding at ELITE Paper Solulions, lo reduce the level of Cardboard ending in landfill, or being cartK)n negative, due to lengthy travel for recyding, has been fil￿*r supported by a grant for machinery from WFiAP Cymru. enabling us to 92le up thi5 operation in ftjture years. Unfortunately. our main customer al ELrrE Clothing Solutions. namely MexarKlra reduced our contracting arrangements, choosing to import products for the NHS. rather than have them made by us in Wales. This matter, based on CSR values. became quite politi￿1 81 the latter part of 2021122, as tt placed the livelihood of our dIsa￿ed staff at risk. We were fortunate enough lo receive finanaal SUPFK)rt from Welsh GovernmenL to maintsin our staffing whi15t we resurrected this PUNIC Sector work and gain new c(x)tr&ts. Welsh Government were also very proactive in recognising a gap in procuremenL introduong a Dynamic Purchasing System th81 enables reseNed contracting under Regulation 20 of the Procu￿M￿lt legislation in Wales, which would a5SiSt our supported enterprise for direct tendering in fijture years. Our quality standards were demonstrated ￿)sS the main charty and our swal enterprise5. by our maintenance of a range of a¢creditations, Ir￿uding Disability Confident Leader ststus, Green Dragon Enwronmental Level 11, ISO ￿1, BS EN 15713. SMETA audit status and Cyber Essentials Plus. &LI.T.E Supported Employmont Agency Limit•d for tho Year Ended 31 PAarch 2022 r thanks are extended to all of our funde￿. sll we work Y￿1h respond so positively to benefiting from a diverse wothfO￿, Ihe customers of our Socaal Enterprises, parbcularty Lyreco, who are engr8ined in CSR values, demonstrated Ihrough our (xylaboration of the continued Cymru Copier Scheme, enabling us to generate irKY)me for wnvestment in ￿r parbcipants. Thanks, and praise are hearted extended to our amaang team of stsff. year on year go atx>ve and tseyond, to prowde excellent semces and enhance the lives of disabled and disadvantaged pwle. The opporttjnities and support from each of these organisations arKI indmduals has enablgj life thaThJirvJ. Fositsve impacts on the indivpJuals we've engaged in 2021122. FINANCIAL REVIEW Financlal position net incoming unrestricted SLErplus for the year ended 31 March 2022 amounted to £534,545 12021.. £111,6e6 1. This surplus increased the ￿MulatiVe unrestricted lunds to £813,472. The movements in the individual designaled funds are Sh￿ in the notes to the finaroal statements. The total incomir#J resources from resthcted SOUT￿ amounted lo £1.682,994 {2021.. £1,493,462). Expenditure from restricted resffts of £1,5¥2.817 12021: £1.&S9.7101 resuW in nel infiow of resources of £90,17712021.' £76.248 def￿1. All of the 1￿MIng rescHJrces have been aprAied to fvrther the prwKapal obpcts of tharity. Reserves policy Following the risk mi8w Undertaken by the Trustees, the Management Committee recognised that an 8mounl of un￿striCted and designated reserves, ne￿￿$ lo ￿ wmmitted VAth in the 2021r22 budget, in order to continue the current acbmties and bjture ambtbons of the charity. vthich would require the current level of stsff lo promde one to serv7ces, in the event of a drop in income. and lo insul*e the Charity against future eash flow drfficulties {some as a resum of retros[￿tive payinenls). This risk was also a factor of consideration when preparing the 2022r23 budget for the initial months of thai finanual year. The Tnjstees have Oesignaled reserves to cover these risks idenlrfth in our risk asse&8ment. Likewse. thv6e have been identified for fultjre suslainabilty planning. Due to inconsistenues of this type of funding and due to the current unpredIcta￿e economi¢ climate, ELITE'S &Jard of Trustees and Management Team. recognise that the organisation needed lo continue to create jobs and an income source thr(￿h swal enterprise. Deggnated reserves were therefore also identrfied for this purpose. a5 dernonstrated in the notes the financial ststements. New projects and the method of payinenl of e5tsblished (￿tr¥¢ts. ￿11 also impact on our cash flow and Iherefore this presents considerations withli our use of reserves. The Risk Management and Reserves Policy will be Ca)nstsntty revIe￿*d by Ihe Trustees, over the next few years to ensure that we are approwately mana9ing our expansion of seMcEs. The twstees recognise the need to hold Teserves to help to c{￿linUe the principal obj￿ of the (*arity should the level of fvnding fall. In addition, the need lo estsblish a base reserve of free reserves lo build L¢P the level equivalent lo three months operating costs has been recogntsed by the Injstees, to mitigate the risk of So&ng a specffic grant fvThler. The level of unrestricted reserves at the balance sheet date was £813,472 {2021.. £256,000). The level of aVaila￿e fvThJs (free reserves) al the balar￿e sheet date exduding the invesbnent made in fixed assets and the amounts set aside into designated reserves, amounted lo £105,553 12021.. £93,849) which is currenty below three months r4)eratirvJ costs target. The charity is working t0￿dr￿S building free reserves to align to ils reserves ￿￿1¢y. Page 4 .Ll.T.E Supported Employm•nt Agoncy Limited for the Ended 31 March 2022 F(mlRE PLANS We are conscious Ihat whilst We￿ gair￿d funding and u)ntracts to enable our survival moviro fornyard, that there remain challenges from Cowd. and also the Yrdr in the Ukraine. Both of these matters wll undoubtedly impact on the economy in Walès. Our ￿an$ for the future will therefore depe￿1 ￿ ￿Jr developments and sustsinability fo￿￿. To meet the needs of our sub￿tracted Restsrt Programme, we ktTh that we n*J to open rw• offices. %thich wll be based in Aberdare and Pontypridd. Sites have alreaty tfftn identified for Ihese. We have had the cpwrtunity to purchase Vlad￿t House, the site of ELITE Paper Solulions and this has been supported by a mortgage offer from Triodos Bank. We are very gratefrjl to trxjth ￿Jr landlord and Triodos Bank. for the opportunity that they have wesented ￿re, enabling the purch8se in summer 2022, which wll undoubtedly aid the sustainability and devdopment of Ihis parlicular sc¥ial enterprise. Likewse, we wll continue our work Lyre￿) to promote the Ltse of the Cymnj Copier Stheme lo encourage the Public and Private sector lo use our document management serw¢es. We are 81s0 to develop programmes th. Lyreco for Cardl￿rd cdleciion Ilo aid our Ec4) Animal Bedding} and for provision of garments, lo aid ELITE Clothing Solutions. Our busness planning and ambitions for the Animal Bedding are being supported by the prowsion of an intrapreneurial course wtth Queen's University, Be￿aSt, fvThJed by Welsh Govemment's Innovation Programmes until summer 2022. This course 15 enabling the s￿11$ development of ELrrE's CEO, Group Enterprise Manager, Operations M8n8ger and Marketing Commeraal Manager. Initial conversations have been held wth Br￿naU Gwenl County Couwl's Swal Services Department and Economic Development Department. to explore use of existing propety dose lo ELITE Clothing Solutions and create an emptoymenl Servi￿ for disabled and disadvantaged people in that area. This has been well received and needs fijrther expl¢xation in 2022r23. This will also aid ELITE Clothing Solutions IECSI to expand ils production areas, services. (xeate showroom faaltties. aong with addition81 training facilities. This ¥MII be incredibly important to the capauty buildirKJ of ECS in our WrSuan￿ of Public Sector Contracts. We recognise that we need to concentrate on PU￿1¢ Sector needs for all socaal enterprises. lo ensure that we enable soci81 value in procurement, reduang relian￿ on impots, and avoid disbursement of employment, by competing for other existing Ictsl contracts in our area. We intend lo work dosely with NHS Shared Semces over the next 12 months in relation to the renewal of the Al Wales Nurses Unrfom and ￿11 aim lo encourage Ihe use of the reseNed contractiThJ DPS for lerxlering, Nthi¢h rf SU￿ss￿l in terms of new Contracts would allow the creation of more jobs and apprenticeships, more training ¢)pw)rtunities and the C￿trOn of work experience and volunteering for young people with addibonal leamiThJ needs in schools, college. other training provision. but particulady those who have disengaged. We have undertsken soaal value exercAses in this area of our work, lo demonstrate lo the PulAic Sectrx, that rf they spend in this way in 2022123, they will creale social imW of £5.70 for every £1 spenL which is a sKJnificanl return on investh￿￿t. To enhance our wofk further emptoyers, ELrrE Training Soltfjlions and c4Jr staff wll continue to support employers across South Wales to athieve Disability Confident stslus and undertake the range of courses we offer, induding Disability Awarèness Training. We are also introducing 8 new ¢x)ur5e. "Meeting the Needs of Disabled Customers-. This wll create a ￿n..￿n ￿nariO for all concemed, il TrMII improve customer serwce for disabled people, 8nd increase the spetKI of the purple pound vthhin business. due lo retuming customers. Whilst 2021r22 has t*en a faity swcessfvll year in tenns of fvnding and new Prqects. lo achieve our future ambitions in 2022123 and sustainability in ￿ unknovm fvi¢Jre, we 8re consaous that we will need to designate substantial reserves for resourryng all ￿an5. Without substsntial investment from our reserves, plus retention of high levels of ￿serVeS, we wll fail 81 the 11th hour in terms of our legaGy building and security of ￿uch needed future Sgmces lo disabled and disa(fvantaged per￿￿. STRUCTURE, GOVERNANCE AND MANAGEMEiir Governing document The charity is controlled by its govemin9 dotsJwnenL a deed of trusL and C￿StitiJteS 8 limited company. limited by 9uaranlee. as defined by the Companw Ad 2(M)6. Page 5 E.Ll.T.E Supp￿ted Employment Agency Limltod R•port of th• Tntstees for the Y•x Endod 31 March 2022 The organisaticffl is a charitsble company limited by guarantee. irv>)rr￿s￿ on 201h May 1994 and registered as a charity on 21st Septembw 1995. The company was established under a Memorandum of Assoaation which established the objects and powers of the tharItab￿ company and is governed under its Arbcles of Association. In the event of Ihe comp8fty beiw wound up members are required to contribute an amount not exceeding £10. Organisatlonal structure The org8nisation is managed by a vduntary Management Commiitee ￿0$e role is to set the overall ¢JbjeclNes for ELITE and to ensure that the Charity is keeping Y￿1n its leg81 and moral obligations. The Management Committee holds the U￿"rnate aNI responsbility for ELITE. The structure of the Management c￿￿rnittee in(Judes members with a diverse ran9e in thlls and expertise. Indiwduals are elected by the members at the annual g￿￿ra1 meeling. New meM￿rS are given an induction by the Chief Execulive Officer followng completion of the relewdnl legal dedaration and satisfactory checks being Complet￿1. A skills wew is ¢xMnFAeted cm a wular b85is by all committee members. The Management Committee 15 responsible lor the organisation's strategy and policy fr8mework. The day lo day management arKI implementation of that framffi¥￿ is delegated to the Chief Executive Officer and the other senior managers. There have ken no material changes in FKAicy durirwJ Ihe year. REFERENCE AND ADMINISTRATIVE DETAILS Re9iStered Company number 02931254 (England arK5 Wales) Registered Charity number 1049341 Rogistsrod offl¢e 8 Magden Parf( Green Meadow Llanlrisanl Rhondda Cynon Taff CF72 8XT Trustees Mr G Wood (resign￿ 17.11.211 Mr RJones MrA Hole Miss B Thomas {re5igned 12.4.21) Mrs V Bowkett {￿signed 10.3.22) Mr5 G (￿nS Mr5 E Austin Mrs R Baker Mrs M Whelan Company Sa¢rntary Mrs A P W8ym8n Sonior Statutory Audltor Mr S P Horrigan Auditor5 DHB Accountants Limited Chartered AccDuntants Slalulory Auditor5 110 Whitchurch Roa(J Cardrfr CF14 3LY Page 6 ELI.T.E Supported Employmonl Agency Umttod for the Year Ended 31 March 2022 REFERENCE AND ADMINISTrATIVE DETAILS Bankers Bardays Bank PIC 3 Ely Valley Road Talbol Green RCT CF72 8AL EVEPUS SINCE THE END OF THE YEAR Infomi8tion ￿lating to events snce the e￿8 of Ihe year is ￿Vell in the notes to the finan(4al stslements. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of E.L.l.T.E Suprxjrted Employment Agency ￿Mited for the purposes of company lawl are responsble for preparing the Rep(Kl of the Trustees and Ihe financ￿1 statements in accordance wth applicable law and Unite(I lfjngdom Ac￿Unting Sta￿Jards (United lfjngdom Generally Accepted Accounling Pr￿8). Company law requires the trustees lo wepare financial statements for eath financial year which give a true and fair view of the state of affairs of the charitable ￿MpanY and of Ihe incoming resour￿ and application of resources, including the in¢x)me and expenditure. of the charitabbe company for that per#xl. In preparing those finan(xal statements. the trustees required to select suitable a¢counting polioes and Ihen appty them (%￿￿Stenty, observe the methods and prinoptes in the Challty SORP: make judgements and eslimales that are reaSOna￿e and wudenl: prepare the finanaal stslements on the goiNJ concem ba&s unless it is inapprowale lo presume that the charitable company wll continue in business. The trustees are responsible for keewng proper accountiTrJ records which disdose Yth reasonable 8ccuracy al any lime the financi81 FK)sib"on of Ihe tharitable company and to enable them lo ensure that the finanaal ststements comply wlh the Companies Act 2006. are also responsible for safeguarding the 85sets of the charitable company and he￿ for taking reasonable steps for the prevenb.on and d8teciion of fraud and other irregularities. In so far as the trustees are avra￿. there is no relev8nt audrt Informati￿ ofwhith the charitaNe c*rfnpanYs auditors 8re unaware: and the trustees have taken all steps that they ought lo have tsken to make themselves awdre of any relevant audit information and lo establish that the auditors are avrare of that information. AUDITORS The auditors. DHB Accountants Limibj. will be wowsed for re-appoinlmenl at the fortt)coming Annual Gener81 Meeting. Approved by order of the board of trustees on . and svjned on its behalf by.. Mrs A P Wayman - lary Pa9e 7 Report of the Independent Audltorn to th? Membgrs of E.Ll.T.E Supported Employmont Agency Umlted Opinion We have audited the finanryal statements of E.L.l.T.E Supported EmployTnent Agency ￿rnIted (the 'charitable company'l for the year ended 31 March 2022 vthich c¢Jnprise the Statement of Financial ACt￿[be$, the Balance Sheet, the Cash Flow Statement and notes to the finanryal statements. induding a summ8ry of signfficanl accounting poli(aes. The finanual reporbng fr8mewod( that has been aP￿led in th￿r preparation is applicable ￿ arwj United lfjng(*sm A¢￿untirlj Stsndards (United lfjngdom Generalty Accepted At￿Unting Practi￿1. In our opinion the finanaal slalements.. give a true and fair view of Ihe state of Ihe tharItab￿ ¢xNnpa￿s affairs as at 31 March 2022 and of its in¢omin9 resources and ap￿icatiOn of resources, indudiNJ its inC￿Me and expendilure, for the year then ended.. have been proFerty rxepared in a￿ordar￿ V￿th Untted lfjrKJ¢*)m Generally A￿pted Accounting Practi￿. and have been prepared in acccthnce Y￿1h the w¥irements ofthe Companies Acl 2CKI6. Basls for oplnlon We conducted our audit in 8cuJrd8nce vrith Inlemational Star¥Jar(Js on Auditing (UK) IISAS IUK}l and applicable law. Our responsiknlibes under tr￿Se stsndaffls are fvrther described in the Auditors. responsibilities for the audit of the fin8nLaal statements section of fAJr rep(rt We are independent of the charitable company in accordance the ethi(31 requirements that are relevant to our audit of the finanaal statements in the UK, induding the FRC'S Ethical StandaT(J. and ￿ have ftjtfilkd our other elhical responsibilities in accordance wth these reqU1￿Ments. We believe that the audit ewdence we have obtained is sufficAent aTrJ appropriate to provbde a ba￿S for our cpinion. Conclusions relating to going concarn In auditing Ihe finanaal statements. we have conduded that Ihe trustees. use of the going concem basis of accounting in the preparation of Ihe finanaal statements is apprO￿ale. Based on the I￿)rk we have performed. we have Njentrfied any material uncertainties rdating to events or conditions Ihat. indMdLtally or collectively. may cast signthcanl doubl on Ihe charttable company's ability lo continue as a going concem for a ￿riod of at least tr￿ve months Irom when the finanual statements are authorised for issue. Our responsibililies and the responsibilths of the trustees res￿ to goir#J C(￿eM are described in the relevant sections of this re Othar Infomiatlon The trustees are responsible for the other inf0M￿tion. The other infomation comprises Ihe infomiation induded in Ihe Annual Repcrt other than the financsal stslements and our Report of the Independent Auditors thereon. Our opinion on the finanaal slatements does Th)t ￿Ver the otsr infomiaticfft and, ex¢ept to the extent otherwise explially slated in our rewrL we (kn rot expre&s any fomi of a&8uranc* condusion thereon. In connection wth our audit of the finanoal slatements. our responsibility is to read the other infomiation and. in d01r￿ so, consider whether the 0￿r Informati￿ is materially inconsistent with the financial statements or our knovAedge obtained in the audtt or Otr*￿se aP￿ar$ lo ￿ malerialty misststed. tf we identsfy such matersal inconsislen¢ies or apparent material misststemenls, we are required to determine whether this gives rise to a material misstatement in the finarrial statements thwnsetves. W. based on Ihe woth we have performed, we condude that there is a material misstatement of Ihis other inf0m￿tIOn. %%E are required to report that fact. We have nothing to repcrt in this regard. Oplnlons on other rnatters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in Ihe I￿V￿e of the audTL' the inftymation given in the Report of the Trustees for the finantyal year for which Ihe financial statements a￿ prepared is eonsistenl wth the finanaal statements. and the Report of the Trustees has trten Fryared in w)rdarrtx applKable ￿gaI requirements. Page 8 Report of the Inde￿ndent Auditors to the Mtmljers of .Ll.T.E Supported Employment Agency Limltod Matters on which we are roqulrod to rewt by oxception In the light of the kno￿edge and understanding of the charitable company and its environment obtrined in the course of tha audit. we h3ve not id8nlified material misstatements in th# ReF#)rt of the Truslees. We have nothing lo report in respect of the folbv*ing mattefs wl)ere the Com￿leS Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept or relums ad￿uate for our audil have not been receiv from branches not visited by us. or the finanual statements are not in agreement the aminting records and retums.. or certain disclosures of tnjstees. remunerathon sperjfied by law are not made. or we have not received all the infomiation 3rKI exrAan8tions require for our audit". or Ihe trustees were not enblted to tske advantage of the small c¥)mpanies exemption from the requirement lo prepare a Stra19gic Rerx)rt or in prepartrwJ Ihe Repcxt of the Trustees. Responsibilities of trustg8s As explained more fully in ¢he Slatsmenl of Trustees, RespM)rriiwlilies, the trustees (Ntho are also Ihe directors of the charitable company for the purKK)ses of compary law) are responsible for Ihe preparation of the financial statements and for being sats.5f￿d that they give a true and fair wew. and for such ifilem81 Control as the trustees detemine is necessary lo enable the prepardtion of finanaal statements that are free from material misstatement. whether due to fr8u(l or error. In preparing the ffinanryal ststements, the trustees a￿ ￿Sp(￿$1b1e for assessing the Charitab￿ company's ability lo continue as a going coneem. disdosing, as ap￿1¢8b1e, matters related to going concem and using the going con¢xm basis of acxx)untsng unless the truSt￿S either intend to liquidate Ihe charitable company or to cease operations. or have no realistic altemative tNJt to do 50. Page 9 R•port of the Independent Audllors to th? Members of E.Ll.T.E Supported Employment Agency Our responslbilities for the gudlt of the financial statemgnts Our objectives are lo obtsin reasonable assuran￿ aboLat whether Ihe finan(aal slatements as a wlK>le are free from material misstalemenl. whelher due to fraud or error. and to issue a RerK>rt of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of aSsUrar￿, but is not a guarantee that an audit conducted in accordance ISAS {UK} will a￿VayS detect a material misslalement ¥then it exists. Misstslements can arise from fraud ￿ error and are (x)ngdered material rf. indtwdually or in the aggregate, they could re8son8W ￿ expected lo infiuence the ewnomic de(igons of users tsken ttie basis of these finanaal statements. The extent to Nthich our procedures are capabk of detectiThJ irregularthes. i￿lUdIr¥3 fraud is detsiled bel¢)w'. Irregularities, indudiw fraud, are instances of rnrpcx)mplianc* bmth laws and regulatKJns. We design prttedU￿S in line wlh our resp￿sibilities, wuined above and ￿ the Financ4al RepNbng CouncAI'5 website, to delect material misstatements in respect of irwularities. ind￿lIng fr8ud. We obtsin and upJ8te our w¢Jerstan(thng of the entity. its &liwi￿. its ts)ntr(A en¥irDnmenl, and likely fLknJre developments. r￿udIng in relation to legal and regulalory framework applicable and how the entity is c£)mplying wilh that framework. Based on this uni*rstanding, ve idenbfy and assess the risks of material misstslement of the finanaal statemenls. whether due to fraud or err¢x, design and pErform audit procedures sponsive to those risks. and obtain audit e￿den￿ that is SArffi(ient and appropriate lo prowde a bass for our opinion. This indudes 'consKleralion of the risk of acts by the entsty that were contrary to applicable laws and regulations, induding fraud. In response to the risk of irregularitss and Th)rp￿MplIan(8 y￿1h laws arKI regulatiorts. indudiro fraud. we design￿ procedures which induded.. - Er￿UIry of management arKI those charged wth gK)Vem8￿ ar0￿￿j ￿jaI and FQtential litigation and claims as well 8$ actual. suspected and alw fraud,. Reviewing minutes of meetings of those charged wth govemance.. - Assessing the extent of compliance the laws and regulatr)ns considered to have a direct material effect on the fin8n¢ial ststements or the operations of Ihe enlity Ihrough wquiry and insFection', Remewng financial statement disdosures and testing to supKKJrb"ng doDJmentation to assess compli8nce with applicable law5 and regulatM)ns.' Perfom)ing audit work over the risk of management t4as and override of controls, induding testing of joumal entries and. other adjustments for appropriateness. evaluatiThJ the business rationale of significant tr8nsa¢lions outside the normal course of busi￿$5 x£ounting estimates for irn11￿10rs of tM)tential bias. Because of the inherent limitations of 8n audit. there 15 a risk Ihat we %MII not detect all irwlariiie5, including those leading lo a material misstatement in thè financial statements or non-eompliants wth regulation. This risk increases the more th81 compliance wrth a W or wulation is removed from the events and transactions reflected in the ffinanrjal statements. as ￿ wll ￿ less likdy to become aware of instances of non-compli8nce. The risk of not detecting a material misstslement resulting from fraud is higher than for one resuf(ing from error, as fraud may involve collusion, forgery. intentiond omisgons. misrepresentations, or the override of intemal control. A further des¢ription of wr responsibilths for Ihe audit of Ihe financial slatements 15 Ioo3ted on the Financial Reporbng Council's website at www.fro(¥g.ukJaUditor5respon￿kn1th$. This descriplion fonns part of our Report of the Inde￿r¥jenl Auditors. Pa￿ 10 Report of the Inde￿ndent Audit(¥rs to the Membèts of E.Ll.T.E Supportéd Employmgnt Agency Limlted Usg of our rèport This report is made ￿lelY lo the Charitab￿ companls members. as 8 toty. in &C￿rdanCe wrth Chapter 3 of Part 16 of the Companles Act 2￿￿. Our audit has been undertaken so that we mvjht state to the charitable company's members those matters we are required to state to Ihem in an audittxs. retx)rt and for no other purpose. To the fullest extent ￿miitted by law, we do not accept ¢x assume ￿sPOnsIbl11ty to anyone other than Ihe charitabk company and the tharttable companvs members as a body, for ¢xJr audit worf(, for this report. or for the opinicffls have formed. orrigan Isenior Statutrxy Auditor) for and on behalf of DHB Accountsnts ￿Mited Chartered Accountants Stslulory Auditors 110 Whitchur¢h Road Cardiff CF14 3LY Dale: .L&>...£¥L.......2o.ZQ- Pag811 E.Ll.T.E Supported Employment Agency Umitsd Statsm•nt of Flnancial Athili forth¢ Year End¢d 31 Mar¢h 2022 2022 Total fijnds 2021 Total funds Unrestricted Restricted bJnds fvfKJs INCOME AND ENDOWMEiifs FROM Charitablo a¢tlvities Employer Support & Training Grants Work Preparation Job Matching In Wod( Support Third Sector Reglience FurKI 225.721 310.706 2eA).401 37,253 796,274 237.189 354,665 262.974 1.106,980 497,59) 440.204 46,754 ,054 149,849 384,579 31,423 Other trading actiwbes Investment income Cxher income 693,337 14.036 257,613 950.9￿1 14.036 643.428 14.274 3,300 Total 1,S89.740 1.&32,934 3.272.734 2.237,861 EXPENDITURE ON Charitablè activities Employer Suppcrft & Tr8iniw Grants Work Preparat￿n Job Matching In Wofk Supwt Depreciation Govemance ELITE Paper Solution5 ELITE Clothing solub.ons ELITE Training Sdutions Third Sector Resilience Fund 1fii.674 101.746 33.037 37.253 877.203 137.472 347.358 13,208 1,511 30,955 147.857 197,927 978,949 170.YJ9 347.358 16.756 8,421 577,203 304,830 46,059 46,755 2,552 135,180 331,368 9.964 9,650 411,754 292,193 42,012 20,815 6.910 546.248 156.973 46.059 Tot81 1.055.195 1.592.817 2,648.012 2,202,243 INCOME 534.545 ),177 624.722 35,418 Othgr recognised gainsl{10ssos) Gains on revaluab.on of fixed assets 22.927 22,927 Net rnovgment in funds 557.472 9J.177 647.649 35.418 RECONCILIATION OF FUNDS Total funds brougm fcThaYd 256.C#JO 364.089 620.089 584,671 TOTAL FUNDS CARRIED FORWARD 813.472 454.266 1,267,738 620,089 The notes lomi part ofthese financial statements Page 12 E.Ll.T.E Supported Employment Agency Llmited Balance Shogt 31 Ma￿h 2022 2022 2021 Notes FIXED ASSETS Tangible assets Investment propety 12 13 ,562 165,000 198,W7 261.562 198,007 CURREKf ASSErs 14 15 Debtors Cash at bank ar￿ in hand 3.017 382,300 1,055,391 294,320 404,905 1,440,708 699,225 CREDITOR8 Arnounts falling due within one year 16. 1434,532) 1277,1431 NET CURRENT ASSErs 1,OC6,176 422,082 TOTAL ASSETS LESS CURREpir LIABILITIES 1.267.738 620.089 NEf ASSETS 1,267.738 620,089 FUNDS Unrestricted funds Restricted fvnds 20 813.472 . 454.266 256,000 364.089 TOTAL FUNDS 1.267.738 620,089 These financial statements have been prepared in accordm with the proviwns applKzble lo charitsble ¢ompanie8 subj.ect lo the small ￿Mpart￿ regiThE. The nancial statements were aFprov&J by the 8oard of TnJst*s and authorised for issue on .. and were shJned on 118 beha￿ by: Mr R Jones- Trustee Mr A Hole- Trustee The notes form part 0fth￿ financial Stat￿}ents Page 13 EL.I.T.E Supportod Employmgnt Agèncy Limitod Cash Flow Statement for the Year Endgd 31 Ma￿h 2022 2022 2021 Notes Cash flow8 from opernting actlvltles Cash generated from opgrat*)n5 Inter8St paid 712.708 14W2) 53,797 Net Ixsh provided by OFeratirwJ acbvi 712.216 53,797 Cash flo￿ from Inve8tlng athlllfjs Purchase of tangib￿ fixed assets Sale of tsngible fixed assets Interest received (123.051) 126,3201 10.000 253 Net ￿sh usgd in investbng athit*s (123.015> {16,C67} Cash flow8 from flnanclng actlv5tlos New loans in year Loan repayments in year 63.795 (2,510) Net osh provthj by fina￿1￿j 61.285 Chango in ¢a8h and cosh oquivalonts in the reporting period Cash and cash oquivalonts at tho beginning of the r•porting perlod 650.486 37,730 404.%15 367.175 Cash and ca8h equivalents at the wd of tho roportlng perfod 1,055.391 404,905 The notes fomi part oftrrtse financial statements Pa98 14 &LI.T.E Supported Employment Agen Limtied Notss to the Cash Fkyw Statement forthe Year Ended 31 March 2022 RECONCIUATION OF NET INCOME TO CASH FLOW FROM OPERATING ACTMTIES 2022 2021 Net incomg for the reporting period {a$ por the Ststement of Fln4ncial Athvities) Adjustments for. Depreciabon charges Profil on disposal of fixed assets Inte￿$t r￿1￿j Interest paid Increase in stocks Ilncreaseydewse in debtors Increaselldecreasel in cxedilors 624,722 35,418 82,423 62.595 13,300) 1253) 1361 {3.017} {87,9801 96,104 45,092 185.7551 Net cash provid￿ by 0￿ratIOnS 712.708 53.797 ANALYSIS OF CHANGES IN NEf FUNDS At 114r21 Cash flow At 3113r22 Net cash Cash al bank and in hand 404.￿5 650.486 1,055.391 404,9)5 650,486 1.055.391 Debt Debts falling thJe within 1 year (61,285} (61.2851 (61.2851 161.2851 Total. 404.￿5 589.201 994,106 The notss form part of these financial statements Page 15 ELI.T.E Supported EmploymentAgency Llmited f¢rthe Y￿r ErKled 31 March 2022 ACCOUNnNG POUCIES Basis of preparirwJ thg financlal statemènts The financial statements of the Charitabk cornpany, vthich is a publK benefit entity under FRS 102, have been prepared in accorda￿& wth Ihe charib.es SORP IFRS 1021 Accounting and Reporbng by Charities.. Statement of Recommended Practice ap￿1¢able lo charities preparing tt)eir accounts in accordance wth the Finawal ReporbrKJ Standard ap￿7¢81￿ in the UK and Republic of Ireland {FRS 102} (eff￿tive 1 January 20191.. Financial Reporbng StsrKlard 102 The Financial Reporting Standard applicable in the UK and RepU￿1C of Ireland, and the Companies Act 2￿. The finanoal statements have b88n prepared urKler the historical ￿st c￿li0n. as mod5r￿d by the revaluation of certain assets. Income All income is recognised in the Ststement of Finarrial Ath"b"es onc* the charity has entilement to the funds. it is prOba￿e Ihal the irK¥)me wll be rewved and the amc¥Jnt can be measured reliably. EX￿ndIture abilities are recognised as expendrture as soon as there ￿ a I￿al or constructwe obligation committirvJ the charity lo that expenditu￿. it is prOba￿e Ihat a transfer of ￿orK)mI¢ benefits wll be required in settlement and the amount of the obligation c2n be me8SUfed ￿lIablY. Expendittjre is accounted for ￿ an wuals basis and has been dassified under headings that aggregate all cost related lo the category. Where costs cannot be dir• atln"LxJted to parti￿lar headings Ihey have been allo¢￿ted 10 8Ctiwties on a basis con&stent the use of resources. Gr8nts offered subject to conditions %thich have not L*en met al Ihe ye8r end d*e are noted as commitment tMJt not accrued as expwditure. Govemance costs indude costs of the prepar8b"tx) and examin8b.on of the statutory accounts. the sls of trustee meeliThJs and the cost of any legal a(1w￿ to 1wstees on govemanc£ or constitutional matters. Tangible fixed assets Depreciation is prov*tsJ at the folkming ann￿￿ ratss in ￿der to ￿lte off ea¢h asset over its estimated useful lrfe. Freehold property Improvement5 to PID￿rty Plant and machinery FixbJres and fith.ngs Computer equip¥nenl 2% cost 33% on cost 33% on cost 150A on cx)st 330A on ￿51 Investment WOPOrty Investment property 15 shovm at most r￿Ent valuatK)n. Any aggregate surplus or deffi￿t arising from changes in fair value is recognised in Ihe Slatement of FInar￿la1 Acb"vib"es. Stocks stod￿ are value(l al the lo￿￿ of (x)st and nel realisable value, after m8knng due allowance f obsolete and stow mowng items. Taxation The charity is exemptfrom coitxXati￿ tax on ils chari13tA8 ¥bvibes. Fund accounting Unrestricted income funds are ger￿1 fiJrbJs that are awailable for use at the trustees, discretion in furlherance of the ¢Jbjeclives of the charity. Restricted funds are Ihose (k)nated ts use in a parb￿lar area or for pu￿￿)$eS, the use of which is reslricted lo that area or Page 16 Continued... ELI.T.E Supp(xtsd Employment Agency Limited Notes to tho Financial Stat8mants. continued for the Year Endod 31 March 2022 Accoui¥nNG POUCIES- cOntin￿d Fund a¢￿untir￿j Designated fijnds are Unrestr1d￿ fuThYs set aside at th8 discretion of the trustees for specific purposes. Furfher explanation of the nature and purwse of each fund is induded in the notes to the financi81 statements. Hire purchasa and kaslng commilments Renta15 Paid under operalsThJ leases S￿ charged to the Statement of Finawal Acmies on a straight line basis over the penod of the lease. Penslon costs and other post4etlrement ￿nefIts The charitable company operates a defined contribulion pension stheme. contribu1￿JnS payable to the charitable CoMpan￿S pension sthme are ctsrged to the Ststemenl of Finarrial Actiwties in the period to they reL41e. Support ¢osts Support costs indude central fvnctions and have teen all￿ted to &tsvity cost categories on 8 basis conwstent wih the use of resour￿$ , for example. 811ocabng prO￿[ty costs by floor areas . or per Capita , staff costs by the time spent arKJ other costs by thwr usage. Irr•coverable VAT Irrecx)ver8ble VAT is charged agalr￿ the ratew of resC￿rceS eXpend￿j forNthich it vrds incurred. OTHER TRADING ACMVITIES 2022 Total nds 2021 Total funds Unrestrided Restricted nds funds Elile Paper Solutions ELITE Clothiro Solutions ELITE Training Solutions 460,933 149,050 83.354 72,640 184,973 533,573 334.023 83,354 472.361 121,101 49.966 693.337 257,613 950,950 643,428 INVESTMENT INCOME 20T2 Total fijnds 2021 Totsl fvnds Unrestricted Restricted furwjs funds Rents received Deposit ac￿￿nI interest 14,000 14.OC(I 14,021 253 14.036 14.036 14,274 Page17 ¢>)ntinued... &LI.T.E Supported Employment Age Limited Ncts5 to the Flnancial Statements. contSnu8d for the Year End￿ 31 March 2022 INCOME FROM CHARrrABLE ACTIVMES 2022 2021 Grants Kickstart Grants SES Income AccEss lo Work In￿*￿e Restsrt SERCO Bardays 100x100 Grant Supported Trai[￿ship1JGw Plus Grants Work Prep8rat*)n Job Mald)ing SES Income Access lo Work Income Job Matching Restart SERCO Job Matching Job M8lchiThJ Bardays 100x100 Grant Job Matdwng Supported TraineeshiplJGW Hus Grants Job Malthir¥J SES Income In Work Supwc¥t Access lo Work Income In Work Support Restart SERCO In Work Support Bardays 100x1D) Grant In Work Support Supported In Work SupF¥)rt TraineeshiplJGW Plus Grants Employer Support & Training Grants Employer Supw1 & Training Granls Work Preparation Work PrepardtKsn Work Prepar8tion Work ￿parat WO￿ Preparation 37.253 225,721 796,274 46.754 )5.816 17,445 40,793 41,498 250,000 5.C(JO 14.208 Y37,189 141.529 2.492 5.828 5,928 241,667 9,473 354,665 367.940 4.984 11,655 11.857 41.667 In Work Supp(Kl Thiffj Sectry Resilience FurKI 23.682 31.423 2,307,748 1.576.659 Grants recei￿1. induded in the above, are as foll(yth3". 2022 2021 Local Authority Grants Engage 2 Change Jobsense Active Inclusion Third Sector Resilience Fund VSEF 66.120 1,083, 275.805 133,670 996,343 179,995 40,000 31.423 35,896 1.425,381 1,417,327 Page 18 nb'nued... LLI.T.E Supported Employment Agency Limited Notes to the Flnanclal Statements. c(xrtinued forthe Year Ended 31 March 2022 CHARITABLE AcnvmES COSTS Granl fundirKJ of activilies (see note Support costs Isee ote 7} Dire¢t Costs 6} Totals Employer Support & Training Grants Work Preparation Job Mal¢hing In Work Supwt Depreciation Goveman ELITE Paper Solutions ELITE Clothing Solutions ELITE Training Solutions 197.927 197,927 978,949 170,509 347,358 16,756 8.421 577,203 304,830 46,059 978.893 170.496 347.338 13 16.756 8.421 S36,897 274.822 45.234 825 2.353.680 197.W27 96.405 2,648,012 Further detailed analysis of costs are provi¢Jed on the final pages of these accounts. GRANTS PAYABLE 2022 2021 Employer Support & TrainirKJ Grarts 197,927 46,755 SUPPORT COSTS Govemance Totsls Work Preparation Job IAatching In Work Support Depreaation Govemance ELITE Paper Solutions ELITE Clothing Solutions ELITE Training Solutions 13 13 16,7 16,7 8,421 8.421 5.277 100 35.029 29,9)8 730 30,(x)8 825 5,561 82.423 8,421 .405 INCOMEIIEXPENDtruRE) Net lncDmel{expenditu￿ l is stated after chargi@{creditingl: 2022 2021 Auditors. remuneration Depreuat'on- Own￿ assets Oper81ing leases Surplus on disposal of fixed assets 5.000 87,140 31.293 62,595 31,905 13,3001 Page 19 cyJntinl￿d... .Ll.T.E Supported Employm•nt Agency Umited Nrkns to the Financial Statoments. ￿ntinued forthe Year Ended 31 March 2022 TRUSTEES. REMUNERATION AND BENEFrrs There Y•Ere ￿ trustees, rernunera￿n LY oltw t¢neffts for Ihe year wwjed 31 March 2022 nor for the year ended 31 March 2021. Tr￿tse$. oxpgnus There We￿ no trnslees, expenses paid for the year ended 31 M￿ch 2022 rnr for the year ended 31 March 2021. 10. STAFF COSTS 2022 2027 Wages and salaries Social security o)sts Other pension ¢>)sts 1.694,659 114,381 56,625 1.551,088 106,138 59,520 1,865.665 1,716,746 The aver&Je monlhty wmber of employees during the year vrds as follo￿.. 2022 47 15 2021 Training Staff Administrative Staff Management Staff Cleaning Staff Finance Van Driver & Assistants Recycling Opefatives Scanning staff Sa￿s & Marketing Machinists & M8nufacturiry 13 12 18 121 No empbyees receNed *wlun*nts in excess of £60,(KXI. 11. COMPARATniES FOR THE STATEMEKf OF FINANCIAL ACTIVMES Unrestricted fuThJs Restricted fijnds Totsl funds INCOME AND ENDOWMENTS FROM Charitablè a¢tivities Employer Support & TrainirYJ Grants Work Preparation Job Matching In Work Supwi Third Sector Resilience FUTh 46,754 )5,816 141,529 367,940 31,423 46.754 964,054 149.849 384.579 31,423 $8,238 8.320 16,639 Other trading actimties Investment income Other income 643.428 14.274 643,428 14,274 Totsl 744,199 1.493,462 2,237,661 EXPENDrruRE ON Page 20 conlinued... .Ll.T.E Supported Employrnnt Age Llmited Notss to the Flnon¢ial Statements. C￿tInUed for th• Year Ended 31 March 2022 11. COMPARATIVES FOR THE STATEMEKf OF FINANCIAL ACTMTIES- contlnued Unrestricted Res(ricted funds lunds Total funds Charitable actlvities Employer Support & Training Grants Wort Preparation Job Matching In Work Support Depreciation Govemance ELITE Paper Solutions ELITE Clothing Solutions ELITE Training Solutions Third Sector Resilience FuThJ 46.755 879,466 132.304 328.444 46,755 X)2.$52 135,180 331,368 23.086 2,876 2.924 8,249 1.401 10.89) 149,635 9,650 411,754 292,193 42,012 20,815 142.558 42.012 20,815 Totsl 632,533 1,569,710 2.202,243 NET INCOMEI(EXPENDrruRE) 111.666 176,248) 35.418 RECONCIUATION OF FUNDS Total funds brought foThArd 144,334 440.337 584.671 TOTAL FUNDS CARRIED FORWARD 256.000 364,089 620,089 12. TANGIBLE FIXED AssErs Improvements Freehold opety Plant and machinery propety COST OR VALVATION At 1 April 2021 Addits'ons Revaluations Red8SStfication 235,891 67.5e 139,556 77.160 170.8911 1165.OC(JI At 31 March 2022 67.560 216,716 DEPRECIATION At 1 April 2021 Charge for year Revaluation adjusknents J.819 4,716 {98.&35) 53.038 14.004 106,536 49.972 At 31 March 2022 67,042 156.508 BOOK VALUE Al 31 March 2022 518 ei>,208 Al 31 March 2021 142.072 14,522 33,020 Page 21 continued... E.Ll.T.E Supported Employmnt Aggncy Llmlted Nol•s to th? Flnancial Stalements. eontiTru￿l for thg Year Ended 31 Ma￿h 2022 12. TANGIBLE FIXED ASSm- continwd F￿t￿re5 and ffttir¥Js Computer equipment Totals COST OR VALUATION Al 1 April 2021 Ad(Silions RevaluatN)ns Red8ssrf¢8ti 69,069 20,￿7 45.447 532.983 123,051 170,891) 1165.000) Al 31 March 2022 69.513 66.354 420,143 DEPRECIATION At 1 April 2021 Charge for year RwdluatK)n adjustm￿ts 61.560 2.352 20,023 16,096 334.976 87,140 198,535} Al 31 March 2022 63,912 36,119 323.581 NEf 800K VALUE At 31 March 2022 5,601 30,235 At 31 March 2021 7.SJ9 198,1307 Cost or valvation al 31 March 2022 is represented ty. Improvements F￿tureS and ffttings Flant and mathinery Computer equipment p¥opety Totals 67.560 216,716 69,513 66,354 420,143 13. INVESTMENT PROPERTY FAIR VALUE Redassification 165,000 Al 31 March 2022 165,000 NET BOOK VALUE Al 31 March 2022 165,000 At 31 ￿￿ch 2021 The amount invested in UK larKI and property i% Ihat at 15 Talbot Road. Talbot Green. Pontydun. RCT. CFT2 8AD. The lasl valuation was ￿rried OLrt by Brinsons Chartered Surveyors & Estate Agents. Easlgate, Market Street. c￿rphI11y. CF83 1 NX. valu*ion of £165.OCM) was established on 22 Mafeh 2022. Page 22 continued... E.Ll.T.E Supported Employmont AgenGy Limit8d Notes to the Flnancial Stat8ments. contlnued for the Yw Endod 31 lknh 2022 14. STOCKS 2022 2021 Stocks 3.017 15. DEBTORS: AMOUNTS FAWNG DUE wrrHIN ONE YEAR 2022 2021 Trade debtors Prepayments 351,878 30.422 274,570 19,7S) 382.3(K) 294,320 16. CREDrroRS: AMOUNTS FAWNG DUE y￿THIN ONE YEAR 2022 2021 Other loans Isee rK>te 17} Trade creditors Credrt Cards Soaal security 8fKI other taxes VAT Wages control account Pension contributions unpad Accrued expenses Deferred govemment grants 61,285 13.526 3.000 306 26.951 57.368 232 11,857 20,943 242,002 23, 417 10,162 89,759 149,639 434,532 277,143 17. LOANS An analysis of the maturty of loans is given below. 2022 2021 Amounts falling due S￿In one year on demarnj: Olher loans 61.285 18. LEASING AGREEMENTS Minimum18as8 payments under nonanc￿lable operating leases tsll due as follows.. 2022 2021 Wthin one year Betsveen one and fve years 56,995 97.852 43,342 139.592 154.847 182.934 Page 23 ContinL￿l... .Ll.T.E Supp￿tsd Employm•rt Ayncy Limited Notes to the Flnancial Statemènts- contlnued for the Year Ended 31 March 2022 19. ANALYSIS OF NEf ASSETS BETWEEN FUNDS 2022 Total nds 2021 Total funds funds fijnds Fixed assets Investrnerrts Current assets Current liabilities 67,919 165.C¥)O 747.736 (167.1831 28.643 g6.562 165.(K)O 1.440.708 {434,532} 198,007 692.972 (267,3491 699,225 1277.1431 813.472 454.266 1.267,738 620,089 MOVEMENT IN FUNDS Nel movement in fvnds Transfers befv￿n fu￿1$ Al 3113r22 At 114r21 UnrestrSctsd funds General fijnd Capital Expenditure Fu￿1 Project Development FurKI Redundancy Fund Project Sustainment Fund 256.(KJO 557,472 {47S,¢X￿1 255,000 140,000 20.oc 338,472 255,000 140,000 20.000 256.[￿￿1 557.472 813.472 Rostricted funds Local Authority ELrrE Clglhing Solubons ELrrE Paper Solutions Enga9e 2 Change Jobsense SJ224 67,884 (5.916) 37,116 28.477 11.952 18.548 44.308 105,000 28,807 257,603 18,548 245.651 ,177 454.266 TOTAL FUNDS 620.089 647.649 1,267,738 Nel movement in fU￿s. induded in the above *e as fd1