|||Page||
|---|---|---|---|
|Report ofthe Tntstees|I|to|5|
|Report ofthe Independent
Auditors|6|to|8|
|Consolidate&i
Statement ofFinancial Activities||||
|Consolidated
Balance Sheet||10||
|Consolidated
Cash Flow Statement||||
|Notes to the Cash Flow Statement||12||
|Notes to the Financial
Statentents|13|to|21|
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|for thc Year Ended 31|March 2021|||||||
|---|---|---|---|---|---|---|---|
|||||||31.3.21|31.3.20|
|||||Unrestricted|Restricted|Totnl|Total|
|||||funds|fimds|fumls|funds|
||||Notes|||||
|INCOlVIE AND ENDOSV&S'IENTS||FRO&VI||||||
|Charitable
activdties|||3|||||
|Education &Training||||1,890,970||1,890)970|1,930,190|
|Other operating
inconic|||2|277,524||277)524|~322 916|
|Total||||2,168,494||2,168,494|2,253, 106|
|EXPENDITURE ON||||||||
|Charital&le
activities||||||||
|Education &1'raining||||2,134,743||2,134,743|2,199,814|
|NET INCOiVI 8||||33,751||33,751|53,292|
|RECOiVCILIATIOiV|OF FUiVDS|||||||
|Total fumls brought|fomvartl|||969,852||969,852|916,560|
|1'OTAL FlliNDS CARRIED FORSVARD||||1,003,603||1)003,603|96)9,852|
||||2021 Group|2020 Group|2021 Charity|2020 Charity|
|---|---|---|---|---|---|---|
|||Notes|||||
|FIXEDASSETS|||||||
|Tangible assets||8|425,988|459,628|425,988|459,628|
|Investments||9|||2|2|
||||425,988|459,628|425,990|459,630|
|CURRENT ASSETS|||||||
|Debtors||10|296,895|274,866|297,288|272,387|
|Cash at bank|||430,663|~413465|~430 268|413,465|
||||727&558|688,331|727,556|685,852|
|CREDITORS|||||||
|Amounts
falling|due ivithin one year|11|(103&875)|(173,623)|(103,875)|(171,146)|
|NET CURRENT ASSETS|||623,683|514&708|623,681|514,706|
|TO'fAL ASSETS I,ESSCURRENT|||||||
|LIABILITlES|||1,049,671|974,336|1,049,671|974,336|
|CREDITORS|||||||
|Amounts
falling|rlnc at)cr more tlmn one year|12|(46,068)|(4,484)|(46,068)|(4,484)|
|&VET ASSliTS|||1,003,603|96&7 852|1,003,603|969 832|
|FUNDS||16|||||
|Unrestricted
tunds|||||1,003,603|969,852|
|TO'fAL VUNDS|||||1,003,603|969,852|
|IViaritime+
En ineerin
~CII
N
I I)|||||
|---|---|---|---|---|
|Cash Floiv Statement|||||
|for the Year Ended 31 ivlarch 2021|||||
|||Notes|31.3.21f|31.3.20|
|Cash flows from operating
activities
Cash generated
from operations
Interest paid|||84,572
(2)897)|259,402
(3,048)|
|Interest element offinance
paid|lease payments||~2160)|~13523)|
|iVet cash provided
by operating
activities|||79,515|242 831|
|Cash flows froin investing
activities
Purchase oftangible
fixed assets|||~87)355|82 005|
|Net cash used
in investing|activities||~87,355)|~82,005)|
|Cash flows front financing|activities||||
|New loans in year
Loan repayments
in year
Capital repayments
in year|||50,000
(19,409)
~5553|(25,164)
~11,219)|
|Net cash proviiled
by/(used|in) financing|activities|~25 038|~36,383)|
|Change
in cash and cash
tlic I'clioi'tlllg
lie)'lail|equivalents|in|17,198|124,443|
|Cash and cash equivalents
beginning
of the reporting|at the
period||413,465|~289 022|
|Cash aml cash equivalents
the reporting
period|at thc end|of|430,663|~413 465|
|RECOiVCH|.IATIO|N|O|F NE|T|INCOiYIE TO NET CASH FLOsiV ltROi&I O|PERATING A|CTIVITIES|
|---|---|---|---|---|---|---|---|---|
||||||||31.3.21|31.3.20|
|Net income|for the|reporting|||perio&l (as per the Statement ofFinancial||||
|Activities)|||||||33,751|53,292|
|Adjustmcnts|for:||||||||
|Depreciation|charges||||||120,996|112,347|
|Interest paid|||||||2,897|3,048|
|Interest elenient of||hire|purchase|||and finance icasc rental payments|2,160|13,523|
|(Increase)/decrease||in debtors|||||(12,071)|12,315|
|(Decrease)/increase||in creditors|||||~63 161|64 877|
|Net cash provi&led||by|opcratioos||||86,732|272,925|
|ANALYSIS|OF CHANGES||||IN|NET FUii'DS|||
|||||||At 1.4.20|Cilsll flolv|At 31.3.21|
|Net cash|||||||||
|Cash at bank|and in|hand||||413,465|~17 198|430,663|
|||||||413,465|17,198|430,663|
|Debt|||||||||
|Finance leases||||||(5,(i64)|5,553|(111)|
|Debts falling
Debts falling|duc ivithin
due ager||I|1 year
year||(26,721)
~4,484|10,992
~41,584|(15,729)
~46,068|
|||||||~36,869)|25,039|~61,908|
|Total||||||~376 596|7,841|368,775|
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|OTHER|OPERA1'lixtG|INCOihIE|||||
|---|---|---|---|---|---|---|
||||Gi'oill)|Group|Charity|Charity|
||||31.3.21|31.3.20|31.3.21|31.3.20|
|Commercial|Training||76,233|274,806|||
|Rents received|||138,000|138,000|138,000|138,000|
|Furlough
Scheme|||63 291||63 291||
||||277526|6125tl5|291291|133tl99|
##
|||||Group
31.3.21|Group
31.3.20|Charity
31.3.21|Charity
31.3.20|
|---|---|---|---|---|---|---|---|
|||Activity||f.|f.|f.||
|Modern
apprentice
Training
- engineering
Other income
Schools||Fducation
Education
Education|&Training
&Training
&.Training|1&567,099
181,297
142 574
1,090 970|1,499,549
233,125
197516
1,930 190|1,567,099
181,297
142 574
7,090 970|1,499,549
233,125
197516
1 930 190|
##
##
|Net income/(exp|enditure)
is stated aR|er charging/(crediting):||||
|---|---|---|---|---|---|
|||Group
31.3.21|Group
31.3.20|Charity
31.3.21|Charity
31.3.20|
||||f|||
|Depreciation —olvned
assets
Ilire ofplanl and machinery
Au dltol s I'cln uneratlon||120,996
24,554
11,375|112,347
22,993
11,750|120,996
24,554
11,375|112,347
25,993
10,175|
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|STAFF COSTS||||||
|---|---|---|---|---|---|
|||||31.3.21f|31.3.20|
|IVages and salaries
Social security costs
Other pension costs||||1,043,328
89,833
~79 187|995,209
78,711
~78 265|
|||||~1212,348|I 152,185|
|The average
monthly|number ofemployees|during|the year lvas as follows:|||
|||||31.3.2i|31.3.20|
|Average
monthly
number ofemployees||||41|40|
##
|||||31.3.21|31.3.20|
|---|---|---|---|---|---|
||f70,001 - 880,000|||I|I|
|8.|TAiVGIBLE FIXL'D ASSE'fS|||||
|||||Fixtures||
|||Long|Plant and|and||
|||leasehold|Illaclllllery|fittings|Totals|
||||8|f.||
||COST|||||
||At
I April 2020|25,000|479,116|1,143,071|I)647,187|
||Arlrlifiolis
Disposals||26)938|60,417
~119098)|87,355
~119098)|
||At 31 March 2021|~25 000|~506 054|~1203488|~1734542|
||DEPRECIATION|||||
||At
I April 2020|25,000|405,174|757)385|1,187,559|
||Charge for year
Eliminated
on disposal||23,894|97,101
~119098)|120,995
~199,098)|
||At 31 ivlarch 2021|25,000|~429 068|~854 486|1,308,554|
||iNFT BOOK VALUL'|||||
||At 31 hlaich 2021||~76 986|349,002|425,988|
||At 31 ivfarch 2020||73,942|385,686|459,628|
|9.|FIXEDASSET INVESTMENTS|||||
||||||Shares
in|
||||||gl oil p|
||||||undertakings|
||||||f.|
||i&IARKET VALUE|||||
||At
1 April 2020 and 31 March 2021|||||
||NET BOOK VALUE|||||
||At 31 ivlarch 2021|||||
||At 31 March 2020|||||
##
|iVIEC No|rth )Vest (Enterprises)
l,imite|d||||
|---|---|---|---|---|---|
|Registered|oAice:|||||
|Nature ofbusiness: Provision oftraining||courses||||
||||o/o|||
|Class ofshare:|||holding|||
|Ordinary|shares||100|31.3.21|31.3.20|
|Areate|capitalandreserves|||2|2|
##
||Group|Group|Charity|Charity|
|---|---|---|---|---|
||31.3.21|31.3.20|31.3.21|31.3.20|
||f,||f.||
|Trade debtors|101,951|86,083|101,321|72,896|
|Other debtors|1,200|1,200|1,200|1,200|
|VAT|7,372||7,372|11,387|
|Prepayments
7II'c188(d (i)col)le|53,344
1.).),028|48,2'13
13(A)40|50,344
133,028|44,970
139,310|
|Ainu(Ill(a
o(vcd to gl'olli)|||4,023|2, 5(74|
|unde)aahings|||||
||296,895|274,866|297,288|272,387|
|CIIEDITORS: A)VIOU(VTS FALLING DUE IVITIIIN OiNE YEAR|||||
||Group
31.3.21|Group
31.3.20|Charity
31.3.21|Charity
31.3.20|
||8|||f.|
|Other loans (see note 13)
Finance lease (see note 14)|15)729
111|26,722
5,664|15,729
111|26,721
5,664|
|Trade creditors|41,146|85,005|41,146|85,005|
|Social security k.other taxes|24,936|24,422|24,936|24,422|
|VAT||2,476|||
|Other creditors|953|4,834|953|4,834|
|Accrued expenses|21,000|24 500|21,000|24 500|
||103,875|173,623|183 878|171 146|
##
|12.|CREDITORS:|AMOUNTS|AMOUNTS|FALLING DUE AFTER MORE THAN ONE YEAR|FALLING DUE AFTER MORE THAN ONE YEAR|FALLING DUE AFTER MORE THAN ONE YEAR|FALLING DUE AFTER MORE THAN ONE YEAR|FALLING DUE AFTER MORE THAN ONE YEAR|FALLING DUE AFTER MORE THAN ONE YEAR|||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Group||Group|Charity||Charity|
||||||31.3.21|||31.3.20|31.3.21||31.3.20|
|Other loans (see note 13)|||||46,068|||4,484|46,068||4,484|
|I'inance lease
(see note 14)||||||||||||
||||||46ll68|||4 484|46II68||4,484|
|13.|LOANS|||||||||||
||An analysis ofthe maturity||ofloans is given|||belotv:||||||
||||||||||31.3.21|31.3.20||
||||||||||f|f||
||Amounts
falling|due tvithin|one year on demand:|||||||||
||Other loans||||||||~15 729|~26 721||
||Aniounts
falling|due bettveen||ttvo|and five years:|||||||
||Other loans
—2-5 years||||||||46,068|4 484||
|14.|LEASIiNG AGREE8MENTS|||||||||||
||ivliniiiiuili
lease|payments|fall|due as folloivs:||||||||
||||||||||Finance leases|||
||||||||||31.3.21|31.3.20||
||||||||||f|f.||
||Net obligations|repayablci||||||||||
||Within one year||||||||I I I|~5664||
||||||||||iNon-cancellnblc|||
||||||||||operating|leases||
||||||||||31.321|31.3.20||
||Within
one year||||||||29,371|22,104||
||Bettveen one and five years||||||||67,731|~63 972||
||||||||||~97 110|~86 076||
|15.|SECURED DEBTS|||||||||||
||Thc folloiving
secured debts are included
tvithin||||||creditors'.|||||
||||||||||31.3.21|31.3.20||
|||||||||||f.||
||Finance leases||||||||111|5 664||
||Debts are secured on the assets|||held under finance lease agreements.||||||||
|16.|0'IOVEIVIKIVT IN FUNDS|0'IOVEIVIKIVT IN FUNDS|0'IOVEIVIKIVT IN FUNDS|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||Net||
|||||||||nlovclncnt||
||||||||At 1.4.20|in funds|At 31.3.21|
||||||||f,|||
||Unrestricted||fumls|||||||
||General|fund|||||969,852|33,751|1,003)603|
||TOTAI. FUIVDS||||||~969852|~33 751|1~003 603|
||Net movement||in iilnds, included|||in thc above|are as folio&vs:|||
||||||||Inconl ulg|Resources|Movement|
||||||||resources|expended|in funds|
||Unrestricted||funds|||||||
||Gcncral|fund|||||2,127,806|(2,094,055)|33,751|
||TOTAL|FUINDS|||||2,127,806|~2,094,055)|33,751|
||Comparatives||for movelnent||in|fumls||||
|||||||||Net||
|||||||||laovclaclrt||
||||||||At
Ixb19|in funds|At 31.3.20|
||||||||||f.|
||Unrestricted||funds|||||||
||tieneral|fund|||||916,560|53,292|969,852|
||TOTAL|FUNDS|||||916,560|53,292|969,852|
||Comparative||net movement|in|funds, included||in the above are as folio&vs:|||
||||||||lnconllng|Resources|Movement|
||||||||I'csonlccs|expended|in funds|
||Unrestricted||funds|||||||
||General|fund|||||2,253,106|(2,199,814)|53,292|
||TOTAL|FUNDS|||||2 253,106|~2 199814)|~53 292|
##
|||||Nct||
|---|---|---|---|---|---|
|||||Illovenl eat||
||||At 1.4.19|in funds|At 31.3.21|
|Unrestricted||fumls||||
|General|fimd||916,560|87,043|1,003,603|
|TOTAL|FUNDS||916,560|87 043|1~003603|
||||hlcolnhig|Resources|lvlovement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|||||f.||
|Unrestricted||fumls||||
|General|fund||4,380,912|(4,293,869)|87,043|
|TOTAL|FUNDS||4,380,912|~4 293,869)|~87 043|
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