Do￿n ID: 7&WFE-OF714c&E41F1￿fj8f*ty2cs7A7 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 Tr￿11 AEva M 8arker A P Lavelle ￿9bY John Weatherall SoGr•tary S8nlor management lef Exec￿tIve ￿7¥Cer County of In¢orporniion Unlted K￿00M (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 P*wsfde 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 co￿thIated 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 t￿r annual report and Ilnandal #atemerts for the year 31 Marth 2026. The flnandal Star￿￿e1)ts have been preparEd In allordw￿ ￿ the ￿(1)un1j￿￿j 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 sta￿58rd 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 Prfncj￿l actlvtty of the company In tfte yeor urthr ￿vIeW ¥rfas that of the provL51Dn, through parlnershlp. of technical trdlning In eng*Rethg* manufac1v￿1 ewJlrRerfng con5tmctlon and related dlly, PrfMa￿l¥ through appyenbceships. MECNW {tradlng as The Enokneertng College) * a Grnup Tralning Assodatlon (GTA). ￿A5 are employer led, charlty based Inth￿l trainlng companles Set up by the 11x41 englneedng buslr*s cornm￿1ty to meet thdr L¥JllEctl4* lechnkd skflls and edutatiotbal need& MECNW is one of the leèdiryg GTAS In a navonal rtel￿ tsf apP￿rnate￿ 30 5kn11ar GfA 0rganlsailo￿ acmss sf9filfi￿At ll¢tl¥lttos MECNW Enginegrlng Colege) Is an hEWdttve ￿￿tatIon. tralnlng and ￿t￿pr￿e 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 re*arth 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 CoMrne￿Ial basts to wpport the rnalnslream charItsb￿ 4clMty by prgthdln9 a ¢x>ndult for Y￿ng p￿P[e to access hlgh value careers In englneedTrJ Educatlon and tralnlng pmgrammes are fvrther en￿￿d ty the avallablllty of tho dry d¢￿ which has dlrect aC￿S frcm the Rtver Mersey. MECNW (rhe Ewlneerfllg Col￿ge) Is IhereforE a unk4ue tralnlng provlder, whk* enables wvkes to be offered to meet the thaHenglng demands of Èrnployers In the 21s ten￿ry. Publle bon¢fit In plannlng its objett￿eS and adlvitles for the year endal the tharty has kept in mlnd the Chatlty omm15sion gijldano on publi£ beneflt at ts tTu*ee¢ meetlrvJ& The charlty's objertlves are to devdop tethnlcal $tdits thmugh educatlon and trainlrvj couws. The charity ass15ts many ytsung peole to galn emplijyment thnjugh appYenti(xthlps and subwuendy to dèvelop Industy related thlls. obtsln relevant qUaffi1kathJ￿ and In turn contriluie to the ongineedno c¢mmuftity as 5kn11ed 13bour. Fre-em￿0yrnent prDgramme5 which Indude tethnlcal skllb devel¢pmÈnt are also ofFered to ITnprov¢ employment prostects for oth¥ ywng w)Fle awattlng an aPp￿tICeshIp opportunlty. StrJt•glc rèpvrt The descrfptlon under the headlr¢gs 'Achlevements and pwfvrman￿" "ffnandal revèw. meet th company law requlrements for the Trus￿$ 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 achIeve￿ts 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)nStruc￿tsn, and the en￿gY sectrar& Pre-apprefttTceshtp sUp￿rt prfyJFession into apprentI￿ShIpS 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 0f￿d.5 inEpectkn framewDrt and retains many of Its out5taTrllng feètures Induding ex￿lIent 5kWs d¢vdopmeAt frjr karnets; ex￿lent fadlttles,, very yood health and Safety practirE and very effective partr*rsl)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&(￿11￿S, EAL, ECtfB, Pearson Grwp, and the Weldlng Ins11t￿e 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 I￿5 end0￿￿Tts and ak¥rovaLs frorD the WEldlng [r*tItu￿ (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 buslr*ss 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 sk￿1 501uknoTb5 is very mud) a part of the company'5 portfollo of serv1tt5 aThl NECNW Tr EngIr￿Ing College) Ss In the VBnguard of natkjnal developrneTrts working in a range of empbyer rEpreseAtaiive gTLWPS {Fomerty ￿lled Tr￿1blaZersI 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 prOV￿er of for the local englneerfro, manufvcturing* nstructlon and t￿rgY sectors In thc Liverp￿1 W Reglon aml wtder North West. MECNW rnie Engineerlng Co15egE) and Is Influ￿tt3[ 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 re￿gnIse 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￿ $ecure altemauve levels of fund￿ should u￿X[￿¢t￿ rjcojr. The present fundlrg arranuemertts genenlly agreed In advan￿ fw the ft)thJwlng tr*élve montPLS, There can however be delays h re(efvlng hjnds 8nd Jn odcntknn Some of the commercial aspects of the chariivs attlwlles not known wlth certalnty In advan￿. For these rèaso￿, the tru*es coN¥ider that reserves should be held at a level to enable the thartly to conynue for a mlntmum Dff(MJr mDrths wlihout addltlonal sOtsr￿ tsf revenue. Unrestrfrted funds at the year end total É1.115,886 of E499.796 related to )Ixed &£set5. Stntturei govornance and nwnagement Qov•rnTny doeument The cornpafty Is a JEglstÈrnl charlty and è ¢x*mpany IOMrt￿ by guarant*. It was 1r>(Jrp0ra￿ on 13 Febnjary 1998 governed by Its Mernoranthjm and of A5yJclètiDn. Tradlng name - 'The Englneèrfng eK•llege' Whllst Morltlrne and Epglneethg College No*th West temalns the reg15tered Lijmpany naFne at Companleg Hou* wlth The Charlty Ctsrntni551on, the company iJpew4tes under the tr#dlng name 'The Er•Jlneerfng Colleye,. Rec•ultmert Bnd appolntm•nt ol Trew tnthts mle Board keeps the sklll requiremehts for the Trustee Body under revkw and in the event that a trusree pemianendy retlres or addltlonal new tri￿[ee5 are requityj, Board seis up a rKimlnatk)ns sDb- commlitee to rer￿[t the new tru5teels). New t￿7￿ may be appo1￿¢01 thrnt4h dvalogue wlth the major Instlujttons wfth whkh fv ¢arnpw)y engages. Oryanbitlonal structure The Trustees IFSted below wern the member5 of the and represatted the Inte￿5t$ of Wlnal 8orough the LaiTdside area and thÈ pr4vate *thr. The tn￿ee5 are appolnted by the Board. There Is no maxlmum number but the mit*rnum number Is three (agreea at Board re￿¥ In Au￿m￿ 2020) e tn2$￿ meet approylThatdy four Umes w year, and at thelr m*tings 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 admIn￿ratIon (*the rtxnpany ts delegatEd to the thlef Execuvve offkpr. New NemOr4￿uM arml ArtKles were fited at Compenles Hou5E In 202L The new Ne￿￿¥r3￿￿￿rn 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 F￿vIrOnment& 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 $[g￿lUre (jf the fmanthl statwnents were: M FNII A Evak)S M Barker C A P Lavelie - Sollcltor l Hlgby- Company Dlrert R￿r￿1￿￿t 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 r*etlngs w*h 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 5sodaU*M and a copy ol the Charity Commisslon's 9UIdan￿ Tr Essentlal Trustee: What You Need to KrtOW.' Rel•ted Par￿89 The charlty has a subsId1￿ MEC Ncfth West ￿t￿PIEseS 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 dIr￿Or5 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 appIl￿b￿ law and Unlted Klngdom ALiyJsJnting Sland4rds cUF￿ted 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 I￿￿gements and estlmates thai arE reasjnable and pnjdent. and - PEepare the flDandal siatements on the g￿ng 0)n￿rn ba* unless k Is Inapprora1ate to presume that the wlll contlnue In operatjon. The Trustees are reSponS￿e for keeping &lequatr acc￿ntIng rerx>rds that dlsdDse wlth ￿aS0nabk ac￿raCY 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) r￿￿￿ble for safEguarding the assets of the tharftable company and hence for taking reasonat￿E *¢ps lor the twevenyon and dete4*lon of fraud and other Irre9L51a¥iVes. Audltor In accordance vAth the companV5 arudes. a resdutkon propo￿ng that DJH Audit ijmltsd be reapptslnted as auditor of the cornpany wlll be put at a Moetlng, Thts report beem prepared In ac￿rdan￿ wth the smau 0JM￿leS ￿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 wh*h they are Bwa*e Whlch 15 rdevant to the but of whlth the audltor 45 unaware. They have fvrth￿ thnf1rn￿d 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 staten￿t 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, thd￿lIng It5 Sncome and expend11￿re, for the year then have been properly prepaEpd In a(xoTdar￿è with UnlteAI XIWM lknrally Attepted Acwntlng prath￿: and have beem prepar&1 In wlth the re4u1￿1￿ 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} 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: 78X8FEElfT1￿BE41FI￿￿vJ￿%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 InCorr￿rated In England and W4le5. The reglstered Of￿ is Fknar￿ Departmenk 2nd Floor, Monk5 F8rry. Btrkenhead, (H415LH. 1.1 B￿1$ of fftrntlon The fi￿na)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 R￿utsI￿ of (FPS 102).. Is a Publlc 3eneflt Endty as dorined by FPS 102. The nmndal StateM￿ts are pTh￿re￿ L5 the fvthal ￿ry8ftLY of ts . Monetsry amovnts In these fina￿￿1 statements are rouTrJed to the nearest £. The Statement of FlnarKlal ArtMUe5 and balano conxqidote the flnancial statements of the Chaffty and Its Sub￿dIary 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 IT￿￿ded 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 cOn￿n￿e In operational ￿$ten￿ for fvroseeaLlÈ fvtura. Thus the TrusteES conthue to adopt the golTrg con￿￿ t*sls of KCOUt*kng kn pre￿rIng ihe flnand statemer*ts. 1.3 Yfflcom• All Incomlng ar¢ recognlsed In the Statemert of Flnan¢ièl A¢ttvEtl•s vthen the d)arfty Satisfies Its perft*nnance obl￿a￿On$ {for exchange trartsactbnsl in accordance with the flve step revenue recognluon mtyJÈl. or when ertlyement to the Incom8 i5 estsblishetf (for r#)n exthange traV￿aCtIonS such as donadons and grantslr provwled * ts prcthble that the in¢ornè wll be mcd¥ed and the anY*unt can be measured yelFabty. ble IncoFne from appYen1l￿ trdlnlng are Included In the Strdtern￿t of FiTranckl ArtIv￿leS on a rntt5wdble bas1& The balantr OF inL*me 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 rda*d 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 accI￿ed ar￿ indudeA In ddknr5 as deft￿1 income. QonatloThs am recfjgnlsed on a recetrdble bats (where there are no wfomiallo related o7ndli4ons} Whe￿ the retdpt Is pro￿ble and the amI￿nt be rneasured reNabty. other Incom Included the h(re of fa(allUes, 15 rwJn15ed In the pertod It Is re￿fvable 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 ex1￿￿1[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 ba*s and has bten das51fled under headlngs that &Jgregate all c05t related to the (xtem. Where costs cannot be dlrec*y attrlbuted kn) partlujlar headlngs thty have ba8n allocated to acti￿￿eS on a basts ConS￿nt VAth the use of resour Governan￿ costs Inthde the o)5ts aitrbutat4e to the compllartt wlth cons￿bJ￿0￿* and stauliory requlrements, trthdhj audlt, str4tegic managen￿l 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. t*predatb)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 t￿Ik11r￿S Plant and equlpment ￿x￿re$ 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 th￿e Th￿nthS cf less, and bank oyerdrnfts. Bank overdrafts are shown w￿h1￿ bormwlTrJs In current mabl11t￿. 1.7 Taxatlon The ¢haMty Is &Yempt from mrporatbn tax on Ifs charttjble acyv￿es. la Retlrement benofitsT The charltable company operate5 a defiMd CONt￿h￿t￿Jn Fenslon scheme. Contrftattions payable Fo th¢ tharttable companys pensxsn scheme are charged io the Staiemert of FI￿n￿al AEtlvilJes tn the PEfiod to whlth they relate. 1.9 Le&*es A8sets obtalned under hlFE pvrthase cr)ntraL*s or fInan￿ bse5 are captLa1￿1 li) the balance sheeL Those held under hlre purthase contrncts are depre 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 afterd*rglng1lcr￿Ivng). Ch#rk¥ Ihrlty 31.3.25 31a.26 .25 phyablt for the oudlt of the tharitvs fln4ncial State￿nts oePr￿at1On of uwned t￿Ible Ilxed ssets 7$ 13,350 I1￿C 6&926 6¥926 66￿94 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) ￿C￿Val any femuwatlon or ￿￿efits from the d￿rtty durlng the year (2025- Enfl). Durfno the year to 31 Mb*rh 2026 rK* irJ*ees were relmbur*l exper￿ {2025- £nill. EsThployeeB Tre overage monthly numL*r 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-tM8t￿1￿KA7 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 frr*Tri taxatkn ¢JD Its a¢￿tIeS t￿uSe au ts InLJme 15 applled lor chBrftabla purposes. O Thnglble ffx¢d assets Gmup and a¥aritv: TOt41 yehtd Cost At I I4rlt 2025 Addl￿On9 2$,[￿ 29?￿63 828552 J15ffj55 15,250 k,166.365 iL5,908 At 31 Mard) 2026 25￿ 297,816 944.207 15,250 1.282,273 Deprnclatl¢Jtt 3Jnd h￿paIn*¢nt At l April 2025 DBpred&lon tharged In the year 153.279 12,3 537,570 47,077 722A15 61,927 542 At 31 Ma￿h 2026 35,￿ I65￿￿7 584.647 9.108 784,Y2 CarrWng amount At 31 March 2U26 132,t9 3S9.SSD 6,142 497,931 At 31 March 2025 144,284 2￿,982 8W4 443,950 11 F5xed asset Invoslment$ shar￿ I group undwtskings Cort or Valua￿on Al l Apdl 2025 & 31 Marth 2026 C*vylng 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¥estn*nts (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 C*artty 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 S5￿51 144.678 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 Eft￿￿1￿. 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 ￿1￿M¢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 &In*￿Ster￿ fund. 17 Un￿$trIctsd fsmd$ The unrethcted fund5 or the compr15e the unexpended balan￿5 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 d￿Ignated ffunds whkth have been set ￿e of unrestrlthd funds by the tsusttss for spedffc p￿rpO Atltyn Res0￿r￿ At31 March 2026 General fvnds I.115￿6 3.015.￿1 P,D12,536? 1,119.151 pre¥10￿ y￿r. At l April Ineomkng R•wurc£s At 3* Mayc 2024 re#•uYcag axperlled 2O2S Genèral funds I.AIOA51 2￿￿912 (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 Republ￿Or Iteland. Low value leases are not recogntsed ￿ the bxlan¢e sheeL Lwe payments are tharyod to the profit and loss aOX￿￿t 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 bU￿￿e¥S ffic• Clas5 of .sha held Held illrnrt Indlroct MEC North West (Enterpdw) Umited Monks Ferry. Pro¥tsksn of tralntng c¥yJrs85 Ordtnary Btrkenhead, t*rseWde. Mi 5LH loo.00 313.26 31.3.25 Aggregate c3Pital and reserv*5 A summary of the finandal ststements of the Sub￿k￿leS Is . 313.2fj 31.3,25 rumo 141225 1142,22S) 122.472 (122.4721 Net profit for the year Ftsed asset In￿t￿*￿tS are stated at t)Ist kn prov15h)n for dfmlnutkn In Va￿0. rlttme + Engineerfng Qillege North West a150 has two dormant subsldlat1es, The EnglfteeTlng College Lhnited aThJ The Englneerlng Coll&Je Enterwtses L￿￿ted. 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 Le￿￿0¥d Pr¢)p¥ty The mmpany operates from a long kas￿dd ploperty. und¥ the tern￿ OF a 125 ￿￿Se {subJect to a pepperLvrn rent>. whkth a)M￿ced kn 1999, Thls lease b treated an 0￿rat[ng lease. 19- DtraI￿gn &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 op**lons 2026 2025 gjrplus for the year Adjuslmopts for. D•predatton and Impalm￿t 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 IB￿67 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-