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|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|
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|**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|
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|||**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|
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||**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|
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||**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|
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|||**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|
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|`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|
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|**`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|
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|**`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|
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||**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|
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|**. 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|
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|**.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|
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||||**`2021`**|**`2020`**|
|---|---|---|---|---|
||||£|£|
|Cost|||20,076||
|Provision|for|obsolescence|||
||||20,076||
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|**Debtors**|||
|---|---|---|
||**`2021`**|**`2020`**|
||£|£|
|Trade debtors|67,102|47,464|
|Prepayments|20,564|34,833|
|Inter-company balance||115,077|
||87,666|197,375|
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|**. 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|
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|||**`2021`**|**`2020`**|
|---|---|---|---|
|||£|£|
|Pension|creditor|46,691|221,568|
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||**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|
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|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|
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|||**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|
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||**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|
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||**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|
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||**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)|