2021-12-31-accounts

	Page
Referenceand administrativedetails oftheCharity, its Trustees andAdvisers	3
Trustees' Annual Report	4- 10
Independent Examiners' Report	11-12
Statement of Financial Activities	13
Balance Sheet	14
Notes tothe Financial Statements	16-31

Performance Measure	2021	2020	Variance explanation
Reserve level	£1.215m	£945k	Pension revaluation
Current Ratio	7.5	4.7	Strengthening working capital position
Candidate numbers	12,134	9,863	Candidate decline due to COVID-19
Net surplus/(deficit)	£61k	£(140)k	Pension revaluation

		Unrestricted	**Restricted **	Total Funds	Total Funds
		Funds	Funds	2021	2020
	Note	£	£	£	£
Income from:
Donations and legacies	2a	121,963		121,963	215
Other trading activities	2b	33,093		33,093	15,350
Investments	2c	4,068		4,068	(920)
		159,124		159,124	14,645
Charitable activities
Examinations and centre registrations		701,818		701,818	614,772
Development ofexaminations,training and materials	2d				1,141
		701,818		701,818	615,913
Other incoming resources	2e	25,928		25,928	103,137
Total income		886,870		886,870	733,695
Expenditure on:
Raising funds
Charitable activities:	3a
Examinations and centre registrations		414,257	835	415,092	538,100
Sale oftraining materials		88,193		88,193	79,796
Curriculum and othertraining		40,657		40,657	49,954
Developmentofexaminations,training and materials		213,825		213,825	206,344
Total expenditure		756,932	835	757,767	874,194
Actuarial remeasurementon defined benefit
obligations		141,152		141,152
Net movement in funds		271,090	(835)	270,255	(140.499)
Reconciliation of funds
Total funds brought forward		925,155	20,271	945,426	1,085,925
Total funds carried forward		1,196,245	19,436	1,215,681	945,426

	Note	2021		2020
Fixed assets
Tangible assets	9	150,007		137,713
Intangible assets	10
Investments	11	110,761		106,801
Tatal fixed assets			260,768		244,514
Current assets
Stocks of training materials	12	20,076
Debtors	13	87,666		197,375
Cash at bank and in hand		1,044,066		1,000,577
		1,151,808		1,197,952
Creditors: Amounts falling due
within one year	14	150,204		275,472
Net current assets			1,001,604		922,480
Total assets less current			1,262,372	1,166,994
liabilities
Creditors: amounts falling due
in after more than one year	15		46,691		221,568
Net assets			1,215,681		945,426
Funds of the charity:
Restricted incomefunds	16		19,436		20,271
Unrestricted funds:
Generalfunds	16	1,277,351		1,214,858
Pensionfund	16	(81,106)		(289,703)
			1,196,245		925,155
Total funds			1,215,681		945,426

	Note	2021	2020
		£	£
Net cash flows from operating activities	22	274,113	(202,129)
Cash flows from/(used in) investing activities
Interest received		(3,960)	2,471
Loss on disposal of investment		(201,247)
Proceeds ondisposal offixed assets		15,832
Purchase oftangiblefixed assets		(41,249)	(38,163)
Net cash from/(used in) investing activities		(230,524)	(35,692)
Increase/ (decrease) in cash and cashequivalents inthe year		43,489	(237,821)
Cash and cash equivalents at the beginning ofthe year		1,000,577	1,238,398
Total cash and cash equivalents at the end of the year		1,044,066	1,000,577
Relating to:
Cash at bank and in hand		1,044,066	1,000,577
Total cash and cash equivalents at the end of the year		1,044,066	1,000,577

		2021	2020
2a)	Donations and legacies- unrestricted	£	£
	Donations	121,963	215
		121,963	215
		2021	2020
2b)	Other Trading activities - unrestricted	£	£
	lntercompany recharges		15,350
	Qualification support products	33,093
		33,093	15,350
		2021	2020
2c)	Investment income - unrestricted	£	£
	Bank interest	108	1,551
	Money marketand otherdeposits	3,960	(2,471)
		4,068	(920)
		2021	2020
2d)	Development of examinations, training and materials	£	£
	Other		1,141
	Total restricted development income		1,141
		2021	2020
2e)	Other Income - unrestricted	£	£
	Furlough income	25,928	99,784
	Other		3,353
	Total other income - unrestricted	25,928	103,137

3.	Costs of generating funds
		Examinations		Curriculum
3a)	Charitable activities - unrestricted	and centre	Training	and other	Development
	(Charity)	registrations	Materials	training	of exams etc	2021	2020
		£	£	£	£	£	£
	Direct costs	91,621	10,857	2,400	1,472	106,349	89,870
	Staff costs	72,179	18,681	9,241	51,295	151,397	231,013
	Direct overheads
	Allocated overheads	224,935	58,655	29,016	161,058	473,664	537,240
	Governance costs (note 3c)	25,522	-			25,522	16,070
		414,257	88,193	40,657	213,825	756,932	874,193
	Charitable activities - restricted
	Direct costs	835				835
	Allocated overheads
		835	-	-		835
	Total	415,092	88,193	40,657	213,825	757,767	874,193

2021	2020
£	£
8,373	965
9,600	8,170
7,552	6,936
25,525	16,070
2021	2020
£	£
241,693	274,195
31,990	23,412
80,486	108,657
79,239	95,362
28,955	23,304
2,601	950
6,575	6,694
3,821	4,667
475,358	537,240

4.	Net incoming/outgoing resources is after c	harging:
		2021	2020
		£	£
	Accountants remuneration	4,200	12,000
		4,200	12,000
	Operating lease costs-Land and Buildings	23,000	39,639
	Amortisation
	Depreciation	28,955	23,304
5.	Staff costs
		2021	2020
		£	£
	Salaries	401,526	430,206
	Employer's National Insurance	24,769	31,574
	Employer's Pension Contributions	24,038	31,313
	Redundancy costs	9,532
		459,865	493,094
	Recruitmentfees	54	127
	Temporary staff
		459,919	493,221

				December	December
				2021	2020
Between	£60,000	and	£70,000	1	1

	Furniture	Office	Computer	Computer	2021
	& fittings	equipment	software	equipment	Total
	£	£	£	£	£
Cost
At 1 January 2021	65,653	31,552	261,135	117,864	476,204
Additions	8,591		31,409	1,249	41,249
Disposals	(15,562)	(270)			(15,832)
At 31 December2021	58,682	31,282	292,544	119,113	501,621
Depreciation
At 1 January 2021	58,088	29,188	145,404	105,811	338,491
Chargeforthe year	2,835	1,218	17,630	7,272	28,955
Disposals	(15,562)	(270y			(15,832)
At 31 December2021	45,361	30,136	163,034	113,083	351,614
Net book value
At 31 December2021	13,321	1,146	129,510	6,030	150,007
At 31 December2020	7,564	2,364	115,731	12,053	137,712

. Intangible fixed assets
	Research &
	Development
	£
Cost
At 1 January 2021	173,739
Additions
At 31 December2021	173,739
Amortisation
At 1 January2021	173,739
Chargeforthe year
At 31 December2021	173,739

.lnvestments
	2021	2020
	£	£
Common Investment Funds	110,761	106,801
Investment in Signature Commercial Limited-charity only		+
	110,761	106,802

	£
Carrying value at the beginning ofthe year	106,801
Gain on investment
Loss on revaluation	3,960
Carrying value at the end ofthe year	110,761

			2021	2020
			£	£
Cost			20,076
Provision	for	obsolescence
			20,076

Debtors
	2021	2020
	£	£
Trade debtors	67,102	47,464
Prepayments	20,564	34,833
Inter-company balance		115,077
	87,666	197,375

. Creditors
	2021	2020
	£	£
Trade Creditors	22,597	49,893
OtherTax and Social Security	9,153	8,972
Accruals	27,698	38,539
Deferred Income	56,341	109,933
Pension Fund	34,415	68,135
	150,204	275,472

Deferred Income at 31 December2020	109,933
Amount releasedfrom previous year	(109,933)
Amount deferred in current year	56,341
Deferred incomeat 31 December2021	56,341

		2021	2020
		£	£
Pension	creditor	46,691	221,568

	Balance	Incoming	Outgoing	Transfers	Balance
	b/fwd	resources	resources		e/fwd
Restricted funds:	£	£	£	£	£
GCSE	19,130				19,130
Other	1,141		(835)		306
Total restricted funds	20,271		(835)		19,436
Unrestricted funds:
Pension	(289,703)		67,445	141,152	(81,106)
Generalfunds	1,214,858	765,998	(703,505)	-	1,277,351
Total unrestricted funds	925,155	765,998	(636,060)	141,152	1,196,245
Total funds	945,426	765,998	(636,895)	141,152	1,215,681

	Balance	Incoming	Outgoing	Transfers	Balance
	b/fwd	resources	resources		e/fwd
Restricted funds:	£	£	£	£	£
GCSE	19,130				19,130
		1,141			1,141
Total restricted funds	19,130	1,141			20,271
Unrestricted funds:
Pension	(347,347)			57,644	(289,703)
General funds	1,414,142	732,554	(874,194)	(57,644)	1,214,858
Total unrestricted funds	1,066,795	732,554	(874,194)		925,155
Total funds	1,085,925	733,695	(874,194)		945,426

PRESENTVALUES OF PROVISION	31 December	31 December	31 December
	2021	2020	2019
Present value of provision	81,106	289,703	347,347
		Year Ending	Year Ending
		31 December	31 December
		2021	2020
Provision at start of year		289,703	347,347
Unwinding of the discount factor (interest expense)		690	3,524
Deficit contribution paid		(68,135)	(66,150)
Remeasurements - impact of any change	in assumptions	(956)	4,982
Remeasurements - amendments to the contribution schedule		(140,196)
Provision at end of year		81,106	289,703

		Year Ending	Year Ending	Year Ending
		31 December	31	December
		2021		2020
I	interestexpense	690		3.s24
	Remeasurements- impactofany change in assumptions	(956)		4,982
	Remeasurements- amendmentstothe contribution schedule	(140,196)
	Contributions paid in respectoffuture service*
	Costs recognised in income and expenditure account

		31	December	31	December	31	December
			2021		2020		2019
		%	erannum	%	erannum	%	er annum
Rate	ofdiscount		1.18		0.27		1.13

	2021	2020
	£	£
	Land and	Land and
	Buildings	Buildings
Within one year	23,000	51,053
Between two and five years	92,000	72,326
More than five years
	115,000	123,379

	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
Fund balances at 31 December2020 as
represented by:
Tangible fixed assets	150,007		150,007
Intangible fixed assets
Investment assets	110,761		110,761
Current assets	1,136,773	19,436	1,156,209
Current liabilities	(154,605)		(154,605)
Long term liabilities	(46,691)		(46,691)
	1,196,245	19,436	1,215,681
	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
Fund balances at 31 December2020 as
represented by:
Tangible fixed assets	137,712		137,712
Intangible fixed assets			o
Investment assets	106,801		106,801
Current assets	1,184,611	20,271	1,204,882
Current liabilities	(282,402)		(282,402)
Long term liabilities	(221,568)		(221,568)
	925,155	20,271	945,426

	2021	2020
	£	£
Net movement in funds	270,255	(140,499)
Depreciation	28,955	23,302
(Increase) in stocks	(20,076)
(lncrease)/Decrease in debtors	109,709	(6,190)
(Decrease) in creditors	(91,548)	(21,098)
(Decrease) in provision	(208,597)	(57,644)
Net cash inflow/(outflow) from operating activities	88,697	(202,129)