|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|5|
|Report ofthe independent
Auditors|6|to|8|
|Consolidated
Statement ofFinancial Activities||||
|Consolidated
Balance Sheet||10||
|Consolidated
Cash Flow Statement||||
|Notes to the Cash Flow Statement||12||
|Notes to the Financial Statements|13|to|20|
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|for the Year Ended 31|March 2023||||||
|---|---|---|---|---|---|---|
||||||319.23|31.3.22|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|||||
|INCOME AND ENDOWS FROM|||||||
|Charitable
activities||3|||||
|Education dt Training|||2,185,782||2,185,782|1,978,831|
|Other operating
income||2|~281537||~281537|303 864|
|Total|||2,467&319||2,467319|2382,695|
|EXPENDITURE ON|||||||
|Charitable
activities|||||||
|Education
dc Training|||2,424/38||2,424,338|2,231,290|
|NET INCOME|||42 tlgl||42,9&1|51,405|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought|forsvard||1,055,008||1,055,008|1,003,603|
|TOTAL FUNDS CARRIED FORWARD|||~1097 89|-|~1097989|I 055 008|
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|||2023 Group|2022 Group|2023 Charity|2022 Charity|
|---|---|---|---|---|---|
||Notes|||||
|FIXEDASSETS||||||
|Tangible
assets|8|318,203|360,475|318403|360,475|
|Investments|9|||2|2|
|||318,203|360,475|318,205|360,477|
|CURRENT ASSETS||||||
|Debtors|10|545,828|439,621|536,826|430,619|
|Cash at bank||407,909|~424 020|~407909|~424 022|
|||953,737|863,641|944,735|854,641|
|CREDITORS||||||
|Amounts
fittling due within one year|11|(145,520)|(130,677)|(136,520)|(121,679)|
|NET CURRENT ASSETS||~808217|732,964|~808 215|~732962|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||1,126,420|1,093,439|1,126,420|1,093,439|
|CREDITORS||||||
|Amounts
falling due atter more than one year|12|(28,431)|(38,431)|(28&431)|(38,431)|
|NET ASSETS||1,097,989|~1055008|~1,097989|1 055 008|
|FUNDS|16|||||
|Unrestricted
funds||||~1097 89|I 055008|
|TOTAL FUNDS||||~1,098989|1 055008|
|Msrinme+ En 'neerin
N~F
~
h W|||||||
|---|---|---|---|---|---|---|
|C
hhl
S|||||||
|for the Year Ended 31March 2023|||||||
||||||31.3.23|31.3.22|
|||||Notes|||
|Cash flows from operating||activities|||||
|Cash generated
&om operations|||||28,979|46,760|
|Interest paid|||||(2,247)|(3,112)|
|Interest element offinance
paid||lease payments|||~648)|~1786)|
|Net cash provided by operating
activities|||||~26 084|41 862|
|Cash flows from investing||activities|||||
|Purchase oftangible fixed|assets||||~3219|~33263)|
|Net cash used in investing|activities||||~32 19|~33263)|
|Cash flows from financing||activities|||||
|Loan repayments
in year
Capital repayments
in year|||||(10,000)|(15,131)
~ll I|
|Net cash provided
by/(used||iu) financing||activities|~10000)|15442|
|Change in cash and cash|equivalents||in||||
|the reporting
period|||||(16,111)|(6,643)|
|Cash and cash equivalents||at the|||||
|beginning ofthe reporting||period|||~424 020|430 663|
|Cash snd cash equivalents||at the end|of||||
|the reporting period|||||407,909|424,020|
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||RECONCIL|IATIO|N
O|F NE|T|INCOME TO NET CASH FLOW FR|OM O|PERATING A|CTIVITIES|
|---|---|---|---|---|---|---|---|---|---|
|||||||||31.3.23f|31.3.22|
||Net income|for the|reporting||period (as per the Statement ofFinancial|||||
||Activities)|||||||42,981|51,405|
||Adjustments|for:||||||||
||Depreciation|charges||||||74,469|69,593|
||Interest paid|||||||2~7|3,112|
||Interest element of||hire purchase|||and finance lease rental payments||648|1,786|
||Loss/(profit)|on disposal|||||||29,183|
||(Increase)/decrease||in debtors|||||(115,036)|(142,726)|
||(Decrease)/increase||in creditors|||||~23 670|34,408|
||Net cash provided||by operations|||||~28 979|46 760|
|2.|ANALYSIS|OF CHANGES IN||||NET FUNDS||||
|||||||At 1.4.22||Cash flow|At 31.3.23|
|||||||||f|f|
||Net cash|||||||||
||Cash at bank|and in|hand|||~424 020||~16111|~407909|
|||||||~424 020||~16111|~407 909|
||Debt|||||||||
||Debts falling|due within||I year||(8,235)|||(8,235)|
||Debts falling|due alter I||year||~38431||~10000|~28431|
|||||||~46 66||~10000|~3666|
||Total|||||~377|54|~6113|~371
3|
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|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||31.3.23|31.3.22|31.3.23|31.3.22|
|Commercial|Training|1437537|165,864|||
|Rents received||138040
~201 37|138000
303.864|138 0011
138 1100|138000
138 tlOtl|
|INCOME FROM CH|ARITABLE|AC|TIVITI|ES||||
|---|---|---|---|---|---|---|---|
|||||Group|Group|Charity|Charity|
|||||31.3.23|31.3.22|313.23|31.3.22|
|Activity||||f.||||
|Modem Apprentice||||||||
|Tratrllllg-|Education|&Training||1,966,424|1,719,888|I 0166,424|1,719,888|
|engineering||||||||
|Other income|Education|&Training||134,358|173,943|134/58|173,943|
|Schools|Ed
'|0.7|'|8501IQ|85,000|05 1100|85 000|
|||||2,185,782|1.978 831|2,185,782|1,978,831|
|CHARITABLE ACTIVITIES COSTS||||||||
|||||||Direct||
|||||||Costs||
|Education &Training||||||~2424|38|
|NET INCOME/(EXPENDITURE)||||||||
|Net income/(expenditure)|is stated|alter charging/(crediting):||||||
|||||Group|Group|Charity|Charity|
|||||31.3.23|31.3.22|312.23|31.322|
|Depreciation —owned assets||||74,469|69,592|74,468|69,592|
|Loss on disposal|||||29,183||29,183|
|Hire ofplant and machinery||||33,991|35,164|33,991|35,164|
|Auditor's
remuneration||||12,650|13,530|Il 000|11925|
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|STAFF COSTS|||||
|---|---|---|---|---|
|Group and Charity|||31.3.23|31.3.22|
||||f.||
|Wages and salaries|||1,251,466|1,085,217|
|Social security costs|||120,079|99,833|
|Other pension costs|||82&358|94,339|
||||1,453,903|1279,388|
|The average monthly|number ofemployees|during the year was as follows:|||
||||31.3.23|31.3.22|
|Average
montMy
number ofemployees|||45|43|
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||The number ofemployees|whose employee benefits (excluding|whose employee benefits (excluding|employer pension|costs) exceeded f60,000 was:|costs) exceeded f60,000 was:|
|---|---|---|---|---|---|---|
||||||312.23|31.3.22|
||f70,001 —f80,000
f80,001 - f90,000||||1|1|
|8.|TANGIBLE FIXEDASSETS||||||
||Group and Charity:||||||
|||||Fixtures|||
|||Long|Plant and|and|Motor||
|||leasehold
f|machinery|fittings|vehicles|Totalsf|
||COST||||||
||At I April 2022|25,000|497,242|949,902||1,472,144|
||Additions|||16tt47|15/50|32,197|
||Disp os ala||~294819)|~36679)||~331498)|
||At 31March 2023|~25 000|~202 423|~930170|~15250|1~172843|
||DEPRECIATION||||||
||At 1 April 2022|25,000|433,978|652,691||1,111,669|
||Charge for year||10,555|62,431|1,483|74,469|
||Eliminated
on disposal||~294819)|~36679)||~331498)|
||At 31 March 2023|~25 000|~149714|678,443|~1483|~854 640|
||NET BOOK VALUE||||||
||At 31March 2023||~52 709|~251727|~13767|318,203|
||At 31March 2022||63,264|297211||360475|
|9.|FIXEDASSETINVESTMENTS||||||
||||Group|Group|Charity|Charity|
||||313.23|31.322|31.3.23|31.3.22|
||Investments
in subsidiaries||||2|2|
|||||||Shares in|
|||||||grollp|
|||||||undertakings|
||MARKET VALUE||||||
||At 1 April 2022 and 31March 2023||||||
||NET BOOK VALUE||||||
||At 31 March 2023||||||
||At 31 March 2022||||||
||There were no investment|assets outside the UK.|||||
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|||||||||0/||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Class ofshare:||||||holding||||||||
|Ordinary
shares|||||||100|||||||
||||||||||||319.23f||31222
f|
|Aggregate
capital and reserves|||||||||||2||2|
|A summary
ofthe financial||statements|||of|the subsidiaries||is;||||||
||||||||||||31.323||31.3.22|
||||||||||||f|||
|Turnover|||||||||||143,537||165,864|
|Expenses||||||||||(143437)||(165,864)||
|Netprofit
for the year||||||||||||||
|Fixed asset investments|are stated|||at cost||less provision|for diminution|||in value.||||
|Maritime
+ Engineering||College||North||West also has||two|dormant|subsidiaries,|The Engineering||College|
|Limited and The Engineering|||College||Enterprises
Limited.|||||||||
|DEBTORS:AMOUNTS||FALLING DUE WITHIN|||||ONE YEAR|||||||
|||||||Group|||Group||Charity||Charity|
|||||||31.323|||31.3.22||31.3.23||31.3.22|
|||||||||||f.|||f|
|Trade debtors||||||117,263|||113,199||90,017||96,849|
|Other debtors||||||900||||1,200|900||1,200|
|Prepayments||||||71,718|||75,930||68,445||70,590|
|Accrued income||||||355,947|||249,292||355,947||249,292|
|Amounts
owed to group|||||||||||21,517||12,688|
|undertakings||||||||||||||
|||||||545,828|||439.621||536026||430619|
|CREDITORS: AMOUNTS FALLING||||||DUE WITHIN||ONE|YEAR|||||
|||||||Group|||Group||Charity||Charity|
|||||||31.3.23|||31.3.22||31.3.23||31.3.22|
|Other loans (see note 13)||||||8,235||||8235|8,235||8,235|
|Trade creditors||||||65,861|||60,931||65,861||60,931|
|Social security &other taxes||||||31,898|||26,780||31,898||26,780|
|VAT||||||23277||||3,188|23277||3,188|
|Other creditors||||||7,709||||1,597|7,709||1,597|
|Accrued expenses||||||29 540|||29 946||20 540||20 948|
|||||||145 5213|||130,677||136,520||121,679|
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||||Group|Group|Charity||Charity|
|---|---|---|---|---|---|---|---|
||||31.3.23|31.3.22|31.3.23||31.3.22|
|Other loans||(see note 13)|28431|38431|28 431||38431|
||||28431|38431|28431||38431|
|LOANS||||||||
|An analysis||ofthe maturity ofloans is given below:||||||
||||||31923f|31.3.22||
|Amounts|falling due within one year on demand:|||||||
|Other loans|||||8 35|8,235||
|Amounts|falling due between two and five years:|||||||
|Other loans||—2-5 years|||~28431|38,431||
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||Non-cancellable|Non-cancellable|
|---|---|---|
||operating|leases|
||312.23|31.3.22|
|Within one year|23,242|32,121|
|Between one and five years|48,385|71,628|
||~71627|103 749|
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|MOVE|MKN||T IN FUNDS|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||Net||
|||||||||movement||
||||||||At 1.4.22|in funds|At 31.3.23|
|Unrestricted|||funds|||||||
|General|fund||||||1,055,008|42,981|1,097,989|
|TOTAL FUNDS|||||||1~055008|~42 981|1~097989|
|Net movement|||in funds, included|||in the above|are as follows:|||
||||||||Incoming|Resources|Movement|
||||||||rmources|expended|in funds|
|Unrestricted|||funds|||||||
|General|fund||||||2,467/19|(2,424/38)|42,981|
|TOTAL|FUNDS||||||~2467 319|~2,424
38)|~42 981|
|Comparatives|||for movement||in|funds||||
|||||||||Net||
|||||||||movement||
||||||||At 1.4.21|in funds|At 31.3.22|
|Unrestricted|||funds|||||||
|General|fund||||||1,003,603|51,405|1,055,008|
|TOTAL|FUNDS||||||1~003,603|51,405|1~055008|
|Comparative||net movement||in|funds, included||in the above are as follows:|||
||||||||Incoming|Resources|Movement|
||||||||resources|expended|in funds|
|Unrestricted|||funds|||||||
|General|fund||||||2,282,695|(2231,290)|51,405|
|TOTAL|FUNDS||||||2,282,695|~2,231 290)|51405|
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