Don ID: 7&WFE-OF714c&E41F1fj8fty2cs7A7 Cornpany regtstratloH numbv Q351328Q (Eryland and W•les) (wlty r•glBlr•th)Tr 1071609 (bbglund 8T Vlal¢•) Maritlme + Engineering College North West Consolidated Annual report and financial statements For the year ended 31 March 2026
Maritirne + Engineerlng College North West Legal and admlnlstrailve Inforniauon M Tr11 AEva M 8arker A P Lavelle 9bY John Weatherall SoGr•tary S8nlor management lef ExectIve 7¥Cer County of In¢orporniion Unlted K00M (EKJL4nd and Wale5) 03513280 Charlty registrntion &igland and WaJE5 1071609 RegISter offlca Flnano Oeparthwt 2nd Fknr l)nk5 Ferry 8lrkenhe•J CH41 SLH Audltor DJH dit UmltEd Pacfffc Chayntws 11-L3 Wiciorla Street Llverpth)I Pwsfde L2 5QQ Soll¢ltots Hlll Dtf*irson LLP I st Pauj's Square 8•nkws Uoyds Bank PLC Swartsea Osc Ewjna House PheonL¥ Way Swanse SA7 9HG
Maritlme + Engineering College North West Contents TNstees' report Independent 8udltor¥ rewt Consolklated Statement of flnjnckl acttvltks Consolld?ted Bala[tt she io cothIated Strternent of cash Nows li Notès to the finandal statements 12-20
Maritime + Engineering College North West Trustees. report (ineludlng dlrectors. report and strateglc report) For the year ended 31 March 2026 The Trustees present tr annual report and Ilnandal #atemerts for the year 31 Marth 2026. The flnandal Stare1)ts have been preparEd In allordw the (1)un1jj poldes set out In note I to the finaTrJal ststements and thmp5y the ¥ govemlw doojmert. the Companles Att 201¥5, FRS 102 Tr Flnandal Reporknng sta58rd aplTrbk In the UK kÈpubk¢ of treknd" and the Chartties SORP 'knoJntlng and Reporting by Charfttes: Stateffjert OF Reo)mmemded tyra(t applKabk to than preparkng thejr ac(wnts Én accord3r with Reportjng Standard apWlc4bte In the UK and Repvbllc Df Irel3[ (FRS 102).. Obi•ctlv& and 4¢ttvltteg The Prfncjl actlvtty of the company In tfte yeor urthr vIeW ¥rfas that of the provL51Dn, through parlnershlp. of technical trdlning In engRethg manufac1v1 ewJlrRerfng con5tmctlon and related dlly, PrfMal¥ through appyenbceships. MECNW {tradlng as The Enokneertng College) * a Grnup Tralning Assodatlon (GTA). A5 are employer led, charlty based Inthl trainlng companles Set up by the 11x41 englneedng buslrs cornm1ty to meet thdr L¥JllEctl4 lechnkd skflls and edutatiotbal need& MECNW is one of the leèdiryg GTAS In a navonal rtel tsf apPrnate 30 5kn11ar GfA 0rganlsailo acmss sf9filfiAt ll¢tl¥lttos MECNW Enginegrlng Colege) Is an hEWdttve tatIon. tralnlng and tpre LETr¢, whlch ha5 an EXt8ndve rartoe of well-equwed erTyineerlryJ WQT>shop% as well a5 CAD/ CAMI IT Slmulatbn suttss. Adjaont dassrrA)ms are outnited wlth Informallon tethJKTrkgy equipm to enable wJtwt-aIded deskJn nd web-based and rearth ro cornplement the hands-on tratnlng In an overall "de51gn and make. pmcess. M&NW as a GfA also (ters technlcal trainlng and assessment to the dlerts exlstlng workforce on a CoMrneIal basts to wpport the rnalnslream charItsb 4clMty by prgthdln9 a ¢x>ndult for Yng pP[e to access hlgh value careers In englneedTrJ Educatlon and tralnlng pmgrammes are fvrther end ty the avallablllty of tho dry d¢ which has dlrect aCS frcm the Rtver Mersey. MECNW (rhe Ewlneerfllg Colge) Is IhereforE a unk4ue tralnlng provlder, whk enables wvkes to be offered to meet the thaHenglng demands of Èrnployers In the 21s tenry. Publle bon¢fit In plannlng its objetteS and adlvitles for the year endal the tharty has kept in mlnd the Chatlty omm15sion gijldano on publi£ beneflt at ts tTuee¢ meetlrvJ& The charlty's objertlves are to devdop tethnlcal $tdits thmugh educatlon and trainlrvj couws. The charity ass15ts many ytsung peole to galn emplijyment thnjugh appYenti(xthlps and subwuendy to dèvelop Industy related thlls. obtsln relevant qUaffi1kathJ and In turn contriluie to the ongineedno c¢mmuftity as 5kn11ed 13bour. Fre-em0yrnent prDgramme5 which Indude tethnlcal skllb devel¢pmÈnt are also ofFered to ITnprov¢ employment prostects for oth¥ ywng w)Fle awattlng an aPptICeshIp opportunlty. StrJt•glc rèpvrt The descrfptlon under the headlr¢gs 'Achlevements and pwfvrman" "ffnandal revèw. meet th company law requlrements for the Trus$ tts present a strategjc rep
Maritime + Engineering College North West Trustees. report (Induding dlrectors, report and strateglc report) (contlnued) For the year ended 31 March 2026 A¢hiev6M¢Thts and pertornwD¢• gnlfltantactfvltlas and achIevets MECNW cfhe Englnegrlng College): - 15 a centre of excéll&K< ¥thth meets employer demand for quallty tralnlwj and works In pathership for mutyjal benefiL The rts woduct 15 Advanced and Hlgher Apprertheships delfvered In accordance wlth apprentlcethlps StaThJanls wlthln the engSneeringi maEyJfaciuriry, englnEwlng-ry)nStructsn, and the engY sectrar& Pre-apprefttTceshtp sUprt prfyJFession into apprentIShIpS and employmemt. There Is $9 a range of commerdal prtyJTrmmes for tlM)se In emplvyment wlthln the enylneerirrtJ¥ manufacturlivJ. englneerhvj wnthctfrJn aNI ewgy sectots. - Is a currenuy graded 2 {Good Prn¥bJer) under 0fd.5 inEpectkn framewDrt and retains many of Its out5taTrllng feètures Induding exlIent 5kWs d¢vdopmeAt frjr karnets; exlent fadlttles,, very yood health and Safety practirE and very effective partrrsl)Ip tpKJrldng wlth employers at local, reglonal and national ar International levds. - Is appro and accredlted by a Trnge of profes4onal bc¥Jtes and InsfJwth)ns wlthlx the sectors covered indudlng IET, IMechE. IMarEs¢ aty&(11S, EAL, ECtfB, Pearson Grwp, and the Weldlng Ins11te CEWI} L8 art atthe and lead1 mernb of England (Group Trainlng knod4tion5). MECNW (Thè Englneerfng College) ppJfDffi in the upper quartlle for finBndal pufmn¢e leads In tha development of good and innovabve praflSce5. - has devdoped a comrnerrlal weldlng (£Tth whtch I5 end0Tts and ak¥rovaLs frorD the WEldlng [rtItu (TWtI and has opened a cross sector galls tedmkzj skilb tralntng and assessment ttntre whlth offers techniol 355essment Serv1 acrD55 the t[ to ottw apPrEtt tralnthg PmWd8r5. has Invested slgnlfScandy In technokngy and vlrtsal reality sultÉs to Serv1 the advan rnaTrufattuYlno, dlgltrl technDlogtes settors. allgnlng the buslrss to the a5pifdUons of the Lai Lool Enterprlse Partnershlp {ManufacbJdngl - Is worktr& in partnethlp wlth govemment and enN)Ioyws b) the lknnd Bahamas il) de¥dop and dellv8r Innc+vadve tertJnlL71 apprenticethps technKal assessments of exLslJrKJ staff In heJvy englneertng. MEQNW (The EnglneerfThJ College) b not Ju# another tralhlng provhderwlth exceltent fddlltles. It tS a5 a genutne cJJThJuJt for the [ ¢ommunlty to attess re21 Jobs In 5eflors off2rlNg Tewardlng Caree for a quaillled Workfor and acts In many respeds as the voke OF the erolneeHThJi rnansJfaclYJrfng, ¢onstructtDn and energy seetor5 In the IDcal communliy. IThrwtion in de¥EfoplrTrg sk1 501uknoTb5 is very mud) a part of the company'5 portfollo of serv1tt5 aThl NECNW Tr EngIrIng College) Ss In the VBnguard of natkjnal developrneTrts working in a range of empbyer rEpreseAtaiive gTLWPS {Fomerty lled Tr1blaZersI wlth large employeT5 and government stoff to revlew tne Apprenticthlp Standan15 for EnglaTrJ. MECNW (The EnglneeAng College) ha5 dellvered over drca ISOO new young englneals b) the sector so fdr and ss growlng by reputatlor to be tralnlNJ prOVer of for the local englneerfro, manufvcturing nstructlon and trgY sectors In thc Liverp1 W Reglon aml wtder North West. MECNW rnie Engineerlng Co15egE) and Is Influtt3[ in the kncal ewulneering and fvrther educauon communltles and re4)e(ted by the sector for strong employer engagement. strateg lealershlp and Innovatlve approaches to developlng new solution5 for dients. Prlndpal funding soiwrtss The prlnctp31 Nndln9 of MECIIW (Th Englneet1ng Coll4el ts the Educauon NMI SdlL8 Funding Agency (ESFA) &nd the •lppreTrtkeshlp LW (adminlstered by ESFA).
Maritlme + Englneering College North West Trustees. report (Includlng dlre¢tors' report and strateglc report) l¢ontlnued) For the year ended 31 March 2026 The tvustees of the d)aHty regnIse that thwe Mll P In the charivs IKome, whtth ean often be as a result of events outskte their controL it Is the pollo/ of the trustee5 to bulld up malntaln a sufflci?Trt level of reser to enable the tharity tD contlntse and to low It tts Bxphre ar $ecure altemauve levels of fund should uX[¢t rjcojr. The present fundlrg arranuemertts genenlly agreed In advan fw the ft)thJwlng trélve montPLS, There can however be delays h re(efvlng hjnds 8nd Jn odcntknn Some of the commercial aspects of the chariivs attlwlles not known wlth certalnty In advan. For these rèaso, the trues coN¥ider that reserves should be held at a level to enable the thartly to conynue for a mlntmum Dff(MJr mDrths wlihout addltlonal sOtsr tsf revenue. Unrestrfrted funds at the year end total É1.115,886 of E499.796 related to )Ixed &£set5. Stntturei govornance and nwnagement Qov•rnTny doeument The cornpafty Is a JEglstÈrnl charlty and è ¢xmpany IOMrt by guarant. It was 1r>(Jrp0ra on 13 Febnjary 1998 governed by Its Mernoranthjm and of A5yJclètiDn. Tradlng name - 'The Englneèrfng eK•llege' Whllst Morltlrne and Epglneethg College Noth West temalns the reg15tered Lijmpany naFne at Companleg Hou wlth The Charlty Ctsrntni551on, the company iJpew4tes under the tr#dlng name 'The Er•Jlneerfng Colleye,. Rec•ultmert Bnd appolntm•nt ol Trew tnthts mle Board keeps the sklll requiremehts for the Trustee Body under revkw and in the event that a trusree pemianendy retlres or addltlonal new tri[ee5 are requityj, Board seis up a rKimlnatk)ns sDb- commlitee to rer[t the new tru5teels). New t7 may be appo1¢01 thrnt4h dvalogue wlth the major Instlujttons wfth whkh fv ¢arnpw)y engages. Oryanbitlonal structure The Trustees IFSted below wern the member5 of the and represatted the Inte5t$ of Wlnal 8orough the LaiTdside area and thÈ pr4vate thr. The tnee5 are appolnted by the Board. There Is no maxlmum number but the mitrnum number Is three (agreea at Board re¥ In Aum 2020) e tn2$ meet approylThatdy four Umes w year, and at thelr mtings agree the broad strategy and areas of acdvty of the company and admln&ter GwnaJ)ce of the pthlk funded tralniTrg Pmwslon Induding con5kleratlon of the cunlcufum offer, tnveskn)ert reserv&s and rtsk management polldes and pthmjano. The day ts day admInratIon (the rtxnpany ts delegatEd to the thlef Execuvve offkpr. New NemOr4uM arml ArtKles were fited at Compenles Hou5E In 202L The new Ne¥r3rn and AriGles state that all Trustees on appointment the Members of the Company. Envlyonment The Englneer]ThJ ge ensurLs that It k uvnptknt w*h current kgL4abon and malntakn5 an up to d3te FvIrOnment& and Sustalnabiiity Pollcy ro ensure that It ks OQitOTlw the Introdudon ol new or modlfted Jegi4atlon. The EnglnÈerlng Ccllege works wtthln the 94JfdeMnes of the enfoyrang agpthcles for England and Wales.
Marltime + Engineering College North West Trustees. report (Includlng dlrectors. report and strateg1¢ report) (continued) For the year ended 31 March 2026 The Trustees, who are aly3 the dlre(tors for t purpDse of campany and who seNgJ durin9 the 9 and up to the dar• of $[glUre (jf the fmanthl statwnents were: M FNII A Evak)S M Barker C A P Lavelie - Sollcltor l Hlgby- Company Dlrert Rr1t aprmwhtment of The Inductl¢Jn process for afiy new]y-apwtnted tnstee comwtgeg an lTrLtiBI meettng with the (tslr, the Board and Chkf ExecuVve Officer. followed by a serles of short retlngs wh the Chiel Executfvo. The welcome pad< typlcally IrKlude5 a brief thlstory of the cornpanyi copy Board and sub-o)mmlttee fftlrLUtes, copy of the last three ytarf TrtKJrt actowit5, a pY of the MetNrandum and Artldes of 5sodaUM and a copy ol the Charity Commisslon's 9UIdan Tr Essentlal Trustee: What You Need to KrtOW.' Rel•ted Par89 The charlty has a subsId1 MEC Ncfth West tPIEseS Umr, whth Operates wlorn trading acttvllleg. The surplus, Ir anyi generated by the gjbsldlary 15 gNen by Why of ald. to ttbe charfty. The Trustees, wlb) are aLso the dIrOr5 Df Madttme + Engineedng Colltye West fi)r the purpose of company law, are respoiLsStrAe lor prephrfnq the TTLEtevs' Repcrt ènd the llnartlal 5Latements In accordance wlth appIlb law and Unlted Klngdom ALiyJsJnting Sland4rds cUFted thg(knm Generalty Accepted AwJuntÉng Prncuce). Company law requtres the Trustee5 to prepore ftTrarthl statements for eath flnandal year whlth glve true and falr vlew of the state of affaSrs of the charitable company aryl group and of the Incomlng resource5 and appllcatk>n OF N]urces, IncaHJlrYJ ttle IrKJJme aod expthjiiure, of the tharltable tompany anl group fDr that year. In prep4Ttng these Ilnanthl 5taiements, the TTUStees are requi to: . selett sukable accounung pondes and then apply them con&stenUy' - obseive the methods and prtnclples the tharlties SORP; - rnake Igements and estlmates thai arE reasjnable and pnjdent. and - PEepare the flDandal siatements on the gng 0)nrn ba unless k Is Inapprora1ate to presume that the wlll contlnue In operatjon. The Trustees are reSponSe for keeping &lequatr accntIng rerx>rds that dlsdDse wlth aS0nabk acraCY al any time the flnanclal p05111on Df the and enab them to ensure tha¥ th¢ flnandal 5tatemants comply wlth the Companles Att 2006. They are als) rble for safEguarding the assets of the tharftable company and hence for taking reasonatE ¢ps lor the twevenyon and dete4lon of fraud and other Irre9L51a¥iVes. Audltor In accordance vAth the companV5 arudes. a resdutkon propong that DJH Audit ijmltsd be reapptslnted as auditor of the cornpany wlll be put at a Moetlng, Thts report beem prepared In acrdan wth the smau 0JMleS 9¢ und6r the Companles Act 2006.
Maritime + Englneering College North West Trustees, report (includlng directors. report and strateglc report) (conkn'nued) For the year ended 31 March 2026 Dlsc141sure of Information to audltor Each of Twstees has confinned that there ts nLI thrOnnat of whh they are Bwae Whlch 15 rdevant to the but of whlth the audltor 45 unaware. They have fvrth thnf1rnd that they have taken appropriate step5 to klentlfy relevant lTrfLimètlon and to estsblith that tht oudltor ts aware of such Infr*nnatrtsn. 7he Thistees. report, kKludiTr3 the strateyk rerwxt was approved by thp Board of TFUStees. MrA vans Tvurtee Llate.. 7ft7r2
ID.. 6FEE4sF1I.aCWlF1-(LFD2C67AT Maritime + Engineering College North West Independent auditor's report To the members of Marltime + Engineenng College North West opIAlon We have aud5td the flnanaai statrments L Marltlne + ineerI1Vj Crllege North West (the 'tharfiable 0)mpart) and Its substdlary fthe group? for ts yejr ended 31 Mawth 2026 COTnprlse the statent of flnandal athvltks, the b4lartc£ the siatematt d cash fksws and b) flnanclal statements, IndudlN9 slgnlfkant a(munttng polliaes. The finantial repordng framework that has been applled In thelr preparalton b applkable and LkutEIS ngdOM Amnun9 stsndards. Including Flnandal Repordng stsndard 102 The FinanLial RÈportlng SlaThlanl appllcbble In the UK and RÈpLEblic of Ir&laThJ (Unlted Klngdom Generally Ixwted Aco)unUng Prath). In Dur oplnkjn, the ffnanckl siatesnenls.. glve a true aTrJ falr VIEW of ts sthte of the Group's affatrs as * 31 Marth 2026 and of Its Incomlng rÉ8ources aftd appI1(at of resources, thdlIng It5 Sncome and expend11re, for the year then have been properly prepaEpd In a(xoTdarè with UnlteAI XIWM lknrally Attepted Acwntlng prath: and have beem prepar&1 In wlth the re4u11 of the CoTnp3nl¢s Act 2006. Basis fvr oplnion conducted Jr dIt In accordant8 with tnterrwUon81 Standards on Audlttng {UK) (ISAS IUKII appll¢2ble law. Our resporBJbthdes thw stan<lard8 are fukthv des¢ribed In the Audlto¢s respongbllvtlas fDr the audlt of the Anandal stsiWts sth of ujr report. We are Independent of the thadtable ttMpY and gtoup In aLYX$rdan with the eth[C requlTEments that are levant to our adIt of the ftnandal statements the InthdlrvJ the FRes EthTrcat StaTrdani, and we have fvINlled coJr other ethlcal responslbllltles in accorfance tmth these reoJSrpnnts, We b8lleve th¥t the 4udfL ¢vldw we havt obtalned ts suffldent and approprtate to prOd& a b8s1s for wr gpknlon. ConclusloN& rel¥ttng to #olny thncem In oudltlng ihe fianal statements, we have conthJdl thal the Trustee Etse of the gow 0)nM basls of aceountlrLg the prepaTatbJn of the fand stdtements Ls appmprfata. B&ed on the work we have performed, WE have not Identffied any mterfal unrtaIne5 laTrg to events or condKlons tha¥ indNkJually or colIeLtl¥eiy, may cast stynin17nt (knjbt on the 's abtllty to (x)ntlnue as a golng concwn for a perlod rf at least rmnlts from Th the statements are authotsed for Isse. Our responsitmlltles ar)d the re4M)rL%fb]1S of the Ththes rfyg)ett to goknq concem a descrtbd In the Tlevant settlons of th15 repurt. Other 5nforniaK• The 0r infDrmatlon ¢7JrnPTlses the Information indurled In the annual other thth the nnandal staternents snd Dur audltols reporr thereon. The TrtLsiee5 atE resPonbIe for the pther illformatlon contalned thIft the arnual report Our Oplnion on the rtnandal statemntS doÈs not tover the 0th8r InforniatloTh and, except th the exlernt othen¥lse expfxitly ststed tn our Eep(t, do not express any form of 4ssurance c¢Jndu5ion thereon. Our rewjnslbllity Is to read the other Infomatlon atld, kn dolng SQ, conslder whether the other InfomiatSon Is materlalty inconslstent the flnandal statements or wr krThledge obtalned in ts Cour of the audlt. or otherni5È appÈors to be materlally m1s5tated. If we Identlfy such materfal incottslstendes OT apparert maierial mlsstatemeftt5, we are required to detemilne whether th(8 glves rlse tp a marial mlsststement In the ftnanaal statemetts themsetves. Jf, based on the work we have peiformed, we condude that thwe ts a materral mls5tatement of th& ¢rther Infvtmailon, we e Nulred tt¢ report that Fa We have nothing to retM)rt INS regard.
IgnE0p&ID.. 76WFEE-en4(X4iFI-O6XA7 Maritime + Englneering College North West Independent avdltor's report (continued) To the members of Marltime + Engineering College North West Op1105 other matters prnthbed by the Companl•s A( 26 In our opinlon, based on the work dertaken In the course of our audr(: the lnforrnaEl glven In the Ttste report for Ih An6[al year for whkh flnan£lal ststernents are prepared, whtth Indudes the dIrecto report and the strategic r¥ort prewred fur the purposes of company lrn. 19 consistent the flnanclal stat8ments.' & thè strateglc rert atKI the dlrethrd port InrjUd 7th1 the Trustèe¢ report have been pYepareAI In acu•rdance with applitAe gl reqemiEs. Matters on whl¢h we am requlred to report by excepdon In the Ilght of the knowledge and urnlerstandlng of the thartiable group and envlyoftment rjbtalned In the tourse of the audlt, we hwe Tr)t Iderlthled maEw1 mIsststerrnts tn the stratsglr report or the dlrectors, report Induded wtthln the Trustee reporL We have nothlng to report In resP&t of the frAtswtNJ ntstters In lalkn to the Companies Art 2006 requlres us ro report to you If. In our oplnion.. atfequate accountlng rtrords have not bEen kept by the chartab12 parert company Dr returns adequate for Dur audlt have nrt been received from twanthes not vtslted by u$,. or the flnancial ststsments are not hi agrent wlth the atcguntkng records and r¢tums,' or rtaln dclOsure5 rf trusteeg remunernuon 5pedBed by law aye n)t fftade.. or have not reoived all the Irth7rtaUon arbj exdanadons we frjr our aJIt. Responslbllltles of Trusteej As explalned more tully In thè atemert of Tnt#ees' resp¢YTr51F#litxs. the Trustees. who are a150 the dlrectors of the tharitable parent company for the p4Jrpose of cornwny law. af• re5ponsfole for the prepaTrtlon of the flnartial ststements and for bdng 52ted that they 9 • true and fair vth, and frjr s¥Jch Internal control as the Tru#ec5 detemlne is esSary to ÈnatrAe the preparauon of finantsl statements that a free from matsrlal m15Statemert, whether Llue to frntd or etTty. In preparfng the finantkl Statements, the Trustees are responsible for asSen9 the Grw amlty to cfyntlnue as a golmg concern, discloslngi as applloble, maitus related to golrty COrK and the golny oJncErn ba51s of accuunilng unless the Trustees elther intEnd to llqujdate the tharitable mmpany or to cease operdtlons, or have no tEalJstic Jltematlve but to do ditur's rEBpoMsFbllltles for the audlt ol the fin•ncial statements Our objecbves are to obtsln rewnable awr&no al)out whether the flrbantkl stètements as a are free from materlal mfsstatertEent, whether due to fraud or ermr, and Eo Issue an audltorf$ report that Inchjdes our oplrfon. Reasonable assuran ts a hh level of ?t PJ a warantee that an audft cor%duthd In cordnee wlth fsA5 (UK) wlll always det* a Mateal mL8stratemEnt when It Èxlsts. Mts5t3tsments fdn arfse from fraud vr er¥or and o)Thsidered Tnaterlal If, indlvlduallv or In the aggregate, they eevld rea50ndbty be txpthd to Influor the eo)nèrt dedthfts OF ugers tsk¢n ot) the basls of thÈse ftnanclal statemw)ts. The extent to whlch our prOdureS are capable rf detectrng Irwl•kles. 1K1lIng fraud, fs detaited below. Irreyulartdes, Indudln9 fraud, are Instan of non-o)mpllance Taw5 and regulatlon5. We rteSn prdrg5 ln Ilne wlth our re5p0n51b1llts. ouulned atYe, to detert mL$5tatements In respect of Irregulatt¢S. Indudlno fraud. The extent to whkth our procU[e5 are opabfe of detectlng InTgularttles, Indudlng fraud Is detailed betow..
Dlgr¢ Er81. 7836E-(FlI.lCWlF1EFDA7 Maritime + Engineering College North West Xndependent audltor's report (contlnued) To the members of Marftin + Engineering College North West Bas on wr unde[ of thE company and the IndtrY lft which It owttes, we Idendfiad that the prfndpal rlsks of norFcoMlall wlth la¥Ys ar regulatbn5 related to the a¢ts by the companyi whlch werE contrary to appllcaNe laK and regulaUDThs TnchJdlng fraud. and we tJMsldered the extent to whlch non- CDmpliance might have è materfal effect on fv fi[41 stataments. We akn con5{ded those laws arkl gulakntyns that have a dlrect lrnpa¢t the preparadon of the finendal statements suth as the Companies Act 2006. We evaluated rnanayementrs Incentives and opportunltles for traudulent manlpulatton of the. Ilnancial statements (Induduw the rtsk of overrlde of controls), detern)Ined that the prlnclple risks wer& rdated to Inflated Income and suryl Audlt ppJcedures perfomied [rJ. - ree of the flnanclaE #atsment dlsdowres to undertylng suw)rUng do¢wmertaiion. - yeeW of any alrSPonder wlth legal adv[1$. and enquirles cé managemgnt and those tharged wlth governance around acbjal and pot•ittal litlgation and dalrns - quIrIeS wlth compans stsff trj Identlfy any InStar non-tt)mpIlan YAth laws and regulaDS enqulrfes of managernent and rv4kw of rrmxrthly Tnanagement accounts and reports kn so far B5 they related to the nnantlal str4tements . téstlThJ OfJouma and evalua9, whether there was evldence of blas by the that represen a rfsk of rnateal mlssiatement due to fralbd. and evaluatlng the bu51rte55 rationEle of slanlflcant trBnsactions OLrtsi(k the nomial courge ef buslness - undertak5ng detslled sut61andve tesung of materlal Item5 and a sample of other ltsm5 considern¥on of the reasonableness the flguS and analytk31 rtvlew, Indudlng comparitrjn wlth prevlous years and expetted trends - revi ol the compllan¢e and effect of intsrnal contro& TheTe are Inherent Ilmltatyons In the audit prncedures dwibed ab¢)ve the further moved non- compllance WKh laws and regulatlons fs from events and transactknns rellected the flnanclal statements, the Itss IelY we would become aware of It, Also, the rlsk of rbot detectlng a materlal mItatement due lo fraud is hlgher than the rfsk of noi detecbng ¢)The resuIUng from error, as fraud rnoy lllvolve dÉllLrate concealment by, for exarrole, ftwgery ¢x Intenthjnal Is repre58ntatkJrfj, or thmugh coluskjn. A further descrfptlDn of our responsibrfs Ss avalhbia an th8 Flrondal Wrung Counctl's webslte at: httt)s.'Ilwww.frc,ory.uklaudltorsre5wrtslbllPie& ThL% descrfptton part of audlioffs report. Use ol our rnport lTrls rewrt Is made sojety to the charttstAe cvmpanvs members, as a body, In accoan Chapter 3 of Part 16 of thè Compartes ALt 20D6. Our audit work has been Undertake so that we mlght state to the dkritable company's mornbers Uwe mattets we I rwulred tr state to thern Ill an audltorfs report and for no other purposè. To the fullest extent permltted by law, we do not attÈpt or a55urne re5PQn5ibI11ty to apyone 011r than the charftsiae o)mpany the thaTftèble companys nmbers as a ttsJy* for our audlt worK for thL< report, or for the oplnlon5 we have fornwd. Tlmothy Cherry FCCA (SeNl•r Statutory Audltor} For and on behalf ofOJY Audlt Umlted, Statutory Audltor Padflc Chambers 11-13 Vlctorla Street UYerpDoI NeV51de L25Q Date:
DoGu¥h¥bEnNkwe1Tr. 7836tFEE-OF71E4IFl-OA? Maritime + Engineering College North West Consolldated Statement of flnanclal activitles Including Income and expenditure account For the year ended 31 March 2026 LlnTgtrkt*d. Unr46trlcta fund¥ 2f125 2026 Zncome and endowm•Trts fromi Charftable Hctivltl•$ Educadon &TraIn9 Other operatino thcome 0,518 2,425,80t 260,472 Totsl Inr/)me 3,(eD.743 2&6,273 Expendlture om: Choritablé actlvitiqs EdLThtlon & TTalning 3077.478 1660.838 expwdfture 3,077,478 2,680,838 NrAt 1ntornel{e)qndItrej Hnd v¥Jvem•nt in fund 3,265 5,435 R•eonclllation QV fvnds: Fund balanos at 14)ril 202S 1.115.886 1.110,45L Fund bolJN¢ts at 31 Ilarch 2026 1.119,151 1,115.886 The statement of flnanthl actlvlyu IrKludps all galns ond 10$5ES reLD]nid ln the year. NJI trk£ome gxpendlwre derlve from cont]nulny actMtte5.
Maritime + Engineering College North West Consolidated and Charlty Balance sheet s at 31 March 2026 2026 Grgup 2025 Group 2026 Ch•rfty 2025 Charlty Tan9lble asts io 497,931 443.950 491.931 497.931 Mi,95Q 197,933 443,952 Debtors Cash at bank and ITh hand 761,172" fJ7.401 843,88D 209.131 761,170 237,401 209.1 I5$,$96 05311 ,57A Crodltsr$: amounts tlllng due withln on? yea 14 {289,69B) 1244.5651 (287.115} 12445fj5y Net curnt awts 781178 754Ab)8 765,896 754,006 TDt•l assots less oxrrent Ilabllhles 1.263.829 L197,958 1.263.829 1.197.958 Credttors: amounts falllns ift more tha ¥ear 1144.6781 IB2,0721 (IV.6781 182,U12) Net a¥t$ 1.119.1SL 1,11586 1,119,151 i.liSO86 Funds Unrestrfrted funds iy l.L19,151 1,115,866 Total Funds 1,119,151 1.115,886 As permltied by s4Q8 Companies Act 2006. the cornpany hos not pend Irs statement of flnartclal actSvities a5 It prepare5 group actourts. The ¢dmparfg net Incorne for the finandal year was £3,265 (21325: £5,435). °yAè tsterftents were approved by the BDard ofTrust&S ONI authorfsed for Lssue on . and were sl9ned on Its bEhalf by: MrA Trustee Mr C A P L3¥elle Trustee io-
D¢thign ID: 7WFEE4]Fll.8CBE41F14WD2WA7 Marltlme + Engineerlng College North West Statement of cash flows For thè year ended 31 March 2026 2026 2025 Cash flows from operatlmg a¢tlvltleg Cash (abstsrtr*d byygenerateo fn)m QFeratk)ns 24 18,667 41,161 vestlng 4cth7 Sljrchhse of tanglble tlxed assets 1115,908) 1126.1041 Not ¢agh u••d In knvosting Fthandny •rtlvltles Repayment ot borrDwlngs 1126.lQ41 68.971 (27,808) Nrt cash yenernted frtsm/(vAI in) flnanriny aetlvlthx 68,971 127,8081 Nrt dov•a8e In cafjh and eA¥h 1¥alents P8,2n>} 1112,7511 Cash and cash e4ulvalents at beghnkng oFyEar 237.401 .t52 Co¥h rAsh qqulvalentsF llt end of y¥ar 2Cr4.131 237,40 li
ID: 78X8FEElfT1BE41FIvJ%KA7 Maritime + Engineering College North West Notes to the flnanclal ststements For the year ended 31 March 2026 A(wuntlng poll¢l•s Chpylty inforni•tlorn + ETrJlneeTino College North West is a wivatè company Ilmlted by guarantee InCorrrated In England and W4le5. The reglstered Of is Fknar Departmenk 2nd Floor, Monk5 F8rry. Btrkenhead, (H415LH. 1.1 B1$ of fftrntlon The fina)I ststements have been prq>ar•Y in aCCottsn th goveming documert the Companles Art 2006, FRS 102 The nnanthl Rekxjrtlrrfj Standard appllcablé In the UK and Republi¢ of Ire18nd' 4nd the Ctharltks SORP °Accounknng P£pDrtlw by Chaiides.. Statement of ReeommerKI Prattke appllcable to thadues prepativj thdr accounts In act0rdar& with the Flnandal ReportlThJ standirll applltable In the UK and RutsI of (FPS 102).. Is a Publlc 3eneflt Endty as dorined by FPS 102. The nmndal StateMts are pThre L5 the fvthal ry8ftLY of ts . Monetsry amovnts In these fina1 statements are rouTrJed to the nearest £. The Statement of FlnarKlal ArtMUe5 and balano conxqidote the flnancial statements of the Chaffty and Its SubdIary undertakJn9s. The rewlis assets and Ilabulttes cf the subgldlarles are eonsolldated on a Ilne by lkne ba. The ftnarKlal st4tEEnetts have prepared undv Ihe hlstorfol fost o)nveAtton, wlth the exteplJon of Investments are ITded at market vahJe. The prfndpal accoundng PDII(ae5 adopted are set out below. 1.2 Golng Ct¥ncern Al the time of approving the finanoal ststements, the Trustee5 hove a reasoftable expeLtrtloft that the has adequats resources to cOnne In operational $ten for fvroseeaLlÈ fvtura. Thus the TrusteES conthue to adopt the golTrg con tsls of KCOUtkng kn prerIng ihe flnand statemerts. 1.3 Yfflcom• All Incomlng ar¢ recognlsed In the Statemert of Flnan¢ièl A¢ttvEtl•s vthen the d)arfty Satisfies Its perftnnance oblaOn$ {for exchange trartsactbnsl in accordance with the flve step revenue recognluon mtyJÈl. or when ertlyement to the Incom8 i5 estsblishetf (for r#)n exthange traVaCtIonS such as donadons and grantslr provwled * ts prcthble that the in¢ornè wll be mcd¥ed and the anYunt can be measured yelFabty. ble IncoFne from appYen1l trdlnlng are Included In the Strdternt of FiTranckl ArtIvleS on a rntt5wdble bas1& The balantr OF inLme rettfved for specific oseS Fwt not pxpendo4 during the pertod Is shuwn th thart funth on ihe tsalan sheet. whe tEcelved In advarKe of meeUThJ any wforn)an(e rdad o)ndltlons there ts rtot uncondltlonol entiuement to 1Dcome aThl Ivs reeognthn Is deftrred and Induded In credliors as deferred Income unttl tha perfwmence related condltyon5 are rnEL Whera entluemenr occurs bgfore the Incpme 15 reretved, tE* Income 15 accIed ar indudeA In ddknr5 as deft1 income. QonatloThs am recfjgnlsed on a recetrdble bats (where there are no wfomiallo related o7ndli4ons} Whe the retdpt Is proble and the amInt be rneasured reNabty. other Incom Included the h(re of fa(allUes, 15 rwJn15ed In the pertod It Is refvable and to the ext¢nt that the Charlty provkled the goods or serv1. 12-
Maritlme + Engineering College North West Notas to the flnanclal statements (continued) For the year ended 31 March 2026 A(xountlnu polld (Contlnued) 1.4 Expthtdlt Llabllltlès are tec(Jnlsed as expendlWr¢ as soon as the Is a or co[[e obll9ztion mmlttlng the dwlty to that ex11[tUre. It Is pmbatAe that o transler of economlc beneffts WIN bE requlred In s¢tttement and the amount of the tstlloatyon Lan be measurEd rellably. Expenditure 15 acajunted fiJr actruals bas and has bten das51fled under headlngs that &Jgregate all c05t related to the (xtem. Where costs cannot be dlrecy attrlbuted kn) partlujlar headlngs thty have ba8n allocated to actieS on a basts ConSnt VAth the use of resour Governan costs Inthde the o)5ts aitrbutat4e to the compllartt wlth consbJ0 and stauliory requlrements, trthdhj audlt, str4tegic managenl and other pmfes51onal o)sts. l.¥ T•nglbl¢ tlx¢d J•gets Tanglble Ilxeé Assets are Initwty measured at thelr orSginal cost wa. C05t value Include5 all ¢ expended In bringSw the asso¢ Inbj its knteThd wortlng coThliUon. tpredatb)n rs provlded at the folk)wlng annual rates IR order to wrte ofy each asset ovBr Its esumèted useful lye, or If hekl under leas< over the se term. whlehever Is the shorter. Leasehold land and tIk11rS Plant and equlpment xre$ and fitttngs 2.5% on $t 20% - 33.33% on rad¥9 Wan and over wefvl Ufe IO% 33.33% on redudn9 balanc and over usefiFI lffe over 6 yeats Motor vehide5 IA ea$h 4nd o38h wyivalentg Cash and cash Èqujvalents Indude cash In hand, de• herd at ¢ak bankts. other shortwterm 14uid Investments wlth ofiginal matulths of the ThnthS cf less, and bank oyerdrnfts. Bank overdrafts are shown wh1 bormwlTrJs In current mabl11t. 1.7 Taxatlon The ¢haMty Is &Yempt from mrporatbn tax on Ifs charttjble acyves. la Retlrement benofitsT The charltable company operate5 a defiMd CONthtJn Fenslon scheme. Contrftattions payable Fo th¢ tharttable companys pensxsn scheme are charged io the Staiemert of FInal AEtlvilJes tn the PEfiod to whlth they relate. 1.9 Le&es A8sets obtalned under hlFE pvrthase cr)ntraLs or fInan bse5 are captLa11 li) the balance sheeL Those held under hlre purthase contrncts are depre<fated over I1r eSMted useful tlves. Th(L%e held under finance lease5 are depredated over e*tmèted usthl Ilves vr the lease tern. whÈchever Is the shoit8r. The fnterE$t ekno7t of ttEse ot4orS Is drge to thè statwft of Pknandal athues over the releyant Wod. The capltal danent of the fvthre paYrnts Is trea as a Ikrybltty, Leases of low vèlue assets are not reeognL8el oa the balance sheeL Renta15 payable under suth lea5e5 tharged ie l.he stakment of flnandal on a strdWt llne baas over the lease tem. 13-
Marltlme + Engineerlng College North West Notes to the flnanclal statsments (contlnued) For the year ended 31 March 2026 A¢¢ouTrtlng polido (Contlnued) 1.10 Fundlng aOUntIng UMTestrtctgI funds are avallaUe fvr use at the dL%rtlDtt of the trust In Fllrtheran of the gerffjrnl oblet"¥e5 of the charity whlch have not been dtslgnated other purposes. Rtsknycied fijnds ¢an onfy be used for parbcular resknleted p[$re5 wli hln Ole objerts of tha eharlty. RricUor6 adse when splIed by the donor or when turKts are R15ed for partIclr reslrtct purposes. FUrtr explanatlon of the natyJre and of eath fvnd ts lded In the notss to the finandal ststent& 1.11 Xrrrfovrf•ble rre¢overabte VAT Is treated as a separaie expaL and Ltharpj to kKome and oxpenthture. 1.12 plxed asset InwtmEnts Ih the sep4t7ta aCCDunis of the ChaTIty, Irbterests In subsldkrs are Inldalfy measure41 at cost ond sUbSequenY mered at cost le&$ impalrmert losses. The Investments are assessed for Tmpalrnient at eath r8POrt1 date and any Impa¢rment losses or VersalS are recognlsed Immedlately In the s13tement of fTnancla1 actfjv6tles. Gro 313.25 •rKty JlJ.26 CrfE¥ 31.3.25 31aa6 Modern apprenknthlp traInj (thr 5nLtsme A350M89 2.LW.69> V50A89 358.102 450,029 1,067.699 358,102 WOA18 1425.8DI 800,5 2,425@01 Other oyeratlng lTr¢ome Chirfty 31.3.26 arSty 31.3.25 312.26 31.3.25 Commerdal Rents received 225 i¥ooo 122.472 139.LX 134OgO 138,000 260.472 138.000 138,ODD Chayitsble aellvmes costs Dlrn¢t eosts Edu(xtksn &Tralnlng 3,077,478 14-
Maritlme + Engineering College North West Notes to the financlal statements (contlnued) For the year ended 31 March 2026 Nèt movemeot ill funds The net rnovement In fvnts1$ 5tsted afterdrglng1lcrIvng). Ch#rk¥ Ihrlty 31.3.25 31a.26 .25 phyablt for the oudlt of the tharitvs fln4ncial Statents oePrat1On of uwned tIble Ilxed ssets 7$ 13,350 I1C 6&926 6¥926 6694 Audltor's renwmrntlo Fees Payab to the avdiiDr and assoclates: Grtyup Chmty 2028 Charty For rèudit s•Mces Audlt of the ftmnclal sknitemats of tharlty 11975 iv50 11075 IL,SOO Truste None the Twstees (or any nnected them) CVal any femuwatlon or efits from the drtty durlng the year (2025- Enfl). Durfno the year to 31 Mbrh 2026 rK irJees were relmburl exper {2025- £nill. EsThployeeB Tre overage monthly numLr of ernplo the *ar was.. 2028 Numb•r 2025 45 Emyloymettt co•R8 2026 2025 Wages 8nd 5alartes Soc¢al sectsrlty costs other penslon costs 1591,532 201,604 139,860 Ih50.519 142,709 lJ7.011 1,932.996 1,710,239
7wFEE4)F714f2E-81F1-tM8t1KA7 Maritlme + Engineering College North West Notw to the ftnancial statements (continued) For the year ended 31 Marth 2026 Employees (Contlnuad) The numb of emFltsyees WIV anTrJal rernuneralson vAs rnye th £60.tM)J Is as fDItOWS: 2026 2025 The charlty is &Yempt frrTri taxatkn ¢JD Its a¢tIeS tuSe au ts InLJme 15 applled lor chBrftabla purposes. O Thnglble ffx¢d assets Gmup and a¥aritv: TOt41 yehtd Cost At I I4rlt 2025 AddlOn9 2$,[ 29?63 828552 J15ffj55 15,250 k,166.365 iL5,908 At 31 Mard) 2026 25 297,816 944.207 15,250 1.282,273 Deprnclatl¢Jtt 3Jnd hpaIn¢nt At l April 2025 DBpred&lon tharged In the year 153.279 12,3 537,570 47,077 722A15 61,927 542 At 31 Mah 2026 35, I657 584.647 9.108 784,Y2 CarrWng amount At 31 March 2U26 132,t9 3S9.SSD 6,142 497,931 At 31 March 2025 144,284 2,982 8W4 443,950 11 F5xed asset Invoslment$ shar I group undwtskings Cort or Valuaon Al l Apdl 2025 & 31 Marth 2026 Cvylng amount At 31 March 2026 31 March 2025 16-
Maritime + Engineerlng College North West Notes to the financlal statements (continued) For the year ended 31 March 2026 11 Fixèd as#¢t In¥estnnts (Contlnu•d) Charfty 21Y25 2026 Other Investrmts comprfse., 2tt26 io Investments In subsIdl3$ Ftxed asset investsnents ae stated at cost l&s proth for dbnlnutkn in vabje. There were no Investwt assets outskle the UK. 12 Debt¢ Amtsunls f4115ng due wlthSn year. Group 31326 Gwp JiJ,25 Cartty 31a.26 Charfty 31.3.25 Trdde debtor5 Amounts Dwed by fellow group undetskkngs other debknrs Prepaymént$ 8nd accwed Inctsme 136A59 49.654 29.211 226 764788 110,804 30,711 6091 511764 6W91 617022 771.017 846HS5 761Jr4 3,880 761,17D 13 LoaTh• and overdrdts 2026 2025 Other lTrans 180329 IIIA58 Poyable wltNn one year payab after Or year S551 144.678 29,286 82.072 Debts are secured on the a55ets held under nnarth lease agreemeTrts, 14 Credltilrsi falling vathtn one year Clmrtty 31J.26 3L&I6 31.3.25 31.3.25 Bomwln95 OthEr taxatlan and sod& gecunly Trdde credltors Other ¢TèJItws A¢ru8k and deferred Inwne 35,651 4¥19 55.212 11756 13F,IJ60 35,651 49,019 5&629 14756 138,060 29.286 76,699 ,3d8 10.tY32 74.2ry) 76.6 iOAJ32 74,2 289,698 244.565 287.IlS 244.565 17-
DoryFJgn Eft1. 76WFEE4)F714CBE-81FIJJ8KFLWA7 Maritlme + Englneering College North West Notes to the flnanclal statements (eontlnued) For the year ended 31 March 2026 IS CredltOTS: amount$ talllng oftEr morn th&n o Uwrfty 31.3,25 313.25 31J.26 8orrovAThJs .678 f2.on 144,878 82,07Z 16 R•tlrem•nt 1M¢S 2026 202$ Dallned cothbutlon sch•neg Charye to profft or h)ss In ¥espect of defined contllyJth)n schenps 139,8 lJ7,011 The operntts a defined oNtsthtkin penSIL sthejne tr ajl wallfylng employeE5. The of the scheme are ld separatety from th¢ of the kn an Independerthi &InSter fund. 17 Un$trIctsd fsmd$ The unrethcted fund5 or the compr15e the unexpended balan5 of don&tlons and grants whld) are not subject trj spedftc Cond$ ty donors and grantor5 as to Iww tsy may be used. Thèse indude dIgnated ffunds whkth have been set e of unrestrlthd funds by the tsusttss for spedffc prpO Atltyn Res0r At31 March 2026 General fvnds I.1156 3.015.1 P,D12,536? 1,119.151 pre¥10 yr. At l April Ineomkng R•wurc£s At 3 Mayc 2024 re#•uYcag axperlled 2O2S Genèral funds I.AIOA51 2912 (2,633,47YI IJ15.B86 18 Opprntin9 lease commitments Lèssee ertty applks ts low value lease exempOM under Seclxsn 20 of FRS 102 The Ftnandèl Rep)rdng Standard aMAlcable In the UK RepublOr Iteland. Low value leases are not recogntsed the bxlan¢e sheeL Lwe payments are tharyod to the profit and loss aOXt a 5trobJht Ilne b over the kase term. Durfry thè year, the total expense rektiny tD bw vakne leases V4as Q5,466 {2025.. £25,741). Thts Is Induded wlthtn opernting exkpiws. -18-
Maritlme + Englneerlng College North West Notes to the flnanclal statements (contlnued) For the year énded 31 March 2026 19 Suh51di•rf Detsll$ of the S subgdkrfes at 31 Marth 2026 a5 foND. Name of undortaklng R4istwed Nabjre Qf bUe¥S ffic• Clas5 of .sha held Held illrnrt Indlroct MEC North West (Enterpdw) Umited Monks Ferry. Pro¥tsksn of tralntng c¥yJrs85 Ordtnary Btrkenhead, trseWde. Mi 5LH loo.00 313.26 31.3.25 Aggregate c3Pital and reserv5 A summary of the finandal ststements of the SubkleS Is . 313.2fj 31.3,25 rumo 141225 1142,22S) 122.472 (122.4721 Net profit for the year Ftsed asset Int*tS are stated at t)Ist kn prov15h)n for dfmlnutkn In Va0. rlttme + Engineerfng Qillege North West a150 has two dormant subsldlat1es, The EnglfteeTlng College Lhnited aThJ The Englneerlng Coll&Je Enterwtses Lted. 20 Llltlmats Controlllng Partv wmpany controlled by the Board ofTrusLeoS. 21 Members Guarant•¢ The charlty Is a cornpany IlmlW by guarantee. The merrthrs of oyjmpany ar8 the trustèes n8ffled on page 4. In the event of the ¢harlty being.wouTrJ up, the Ilablity ui of the guorttntee ' Imited by El per member of the tharlty. 22 Long Le0¥d Pr¢)p¥ty The mmpany operates from a long kasdd ploperty. und¥ the tern OF a 125 Se {subJect to a pepperLvrn rent>. whkth a)Mced kn 1999, Thls lease b treated an 0rat[ng lease. 19-
DtraIgn &wdop6 ID.. 7&%SFEF4)Fnu8E41FI-Wtf0&%7A7 Marltlme + Engineerlng College North West Notss to the flnancial statements (continued) For the year ended 31 March 2026 23 Caqh (aboothd by)/9•nw•ted from oplons 2026 2025 gjrplus for the year Adjuslmopts for. D•predatton and Impalmt of tsnglbte fixed 61,927 MovetDent its working capltal: (Incr?ase) debtors IHcrea In credliors 182,no) 36J85 {83.9691 $1,601 Cash (alwrbed by)1genwated fvom op¥•fjtstyJ IB67 41,161 24 Analys1• of changes In not fvnds At l 2025 ¢49hfknws March 2026 Cash at bank and In hand 237.4Ql (28270) 209,Ui LOBE falllNJ the wtthln one year Loa fvluno due after rrwe Ith year P9,2861 {82,0721 {6,365} (62,6f*t) P5.6511 114fi781 126,043 {97,24Jl 28, -20-