|TITAN PARTNERSHIP|LIMITED||||| |---|---|---|---|---|---| |(A company
limited
by guarantee)|||||| |CONTENTS|||||| |Reference and administrative||details ofthe charity,|its trustees|and advisers|| |Trustees'
report|||||| |Trustees'
responsibilities
statement|||||16| |Independent
auditors'|report||||17| |Statement offinancial|activities||||21| |Balance sheet|||||22| |Statement ofcash flows|||||23| |Notes to the financial|statements||||24| ## ## |Trustees|||||Paul Doddridge|||| |---|---|---|---|---|---|---|---|---| ||||||David Hardman|||| ||||||Nicola Hutchison|||| ||||||Sapreena
Kuman|||| ||||||Daniel
Locke-Wheaton|||| ||||||Alexandra
Lofthouse||(resigned|31July 2020)| ||||||Jacqueline
Maher|(resigned 1September 2020)||| ||||||Jonathan
Mortimer|||| ||||||Colin Parker (resigned||1September 2019)|| ||||||Nicola Walters (resigned 1September 2019)|||| |Company|registered|||number|04005034|||| |Charity registered|||number||1081749|||| |Registered||office|||75 Harborne
Road|||| ||||||Birmingham|||| ||||||8153DH|||| |Chief executive officer|||||Carolyn
Chapman|- Lees||| |independent||auditors|||UHY Hacker Young|(Birmingham)||LLP| ||||||9-11Vittoria Street|||| ||||||Birmingham|||| ||||||813ND|||| |Bankers|||||Lloyds TSB Pie|||| ||||||114-116Colmore Row|||| ||||||Birmingham|||| ||||||83 2FD|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||Total| |---|---|---|---|---|---|---|---| ||||||||16mths| |||||Restricted|Unrestricted|Total|01.04.2019| |||||Funds|Funds|2021|to31.07.2020| ||||Note|E|E|f|f| |Income and endownments||from:|||||| |Donations
and legacies|||2|90,794|44,330|135,124|17,909| |Charitable
activities|||3 &19|390,583|564,336|954,919|872,072| |Investment
income|||4||346|346|330| |Transfer
in of LGPS pension||surplus|20|3,000||3,000|| |Total income and endownments||||484,377|609,012|1,093,389|890,311| |Expenditure
on:|||||||| |Charitable
activities|||5 &19|519,202|531,398|1,050,600|1,014,822| |Total expenditure||||519,202|531,398|1,050,600|1,014,822| |Net income/(expenditure)||||(34,825)|77,614|42,789|(124,511)| |Transfers
between
Funds|||13|822|(822)||| |||||(34,003)|76,792|42,789|(124,511)| |Other recognised
gains and||losses|||||| |Net gains on investments|||10||15,486|15,486|26,587| |Actuarial
gain on defined|benefit||||||| |pension schemes|||13|6,000||6,000|| |Net movement
in funds||||(28,003)|92,278|64,275|(97,924)| |Reconciliation
offunds:|||||||| |Total funds brought forward|||13|38,796|690,951|729,747|827,671| |Total funds carried forward|||13|10'793|783,229|794,022|729,747| ## ## |BALANCE SHEET AS|AT31JULY 2021|||||| |---|---|---|---|---|---|---| |||||2021||2020| |Fixed assets||Note|E|f|E|E| |Tangible assets||9||||| |Investments||10||281,066||265,580| |||||281,066||265,580| |Current assets||||||| |Debtors||11|44,655||93,157|| |Cash at bank and in|hand||851,630||782,901|| ||||896,285||876,058|| |Creditors: amounts|falling due within one year|12|(389,329)||(411,891)|| |Net current assets||||506,956||464,167| |||||788I022||729,747| |Defined
Benefit Pension Scheme Asset||||6,000||| |Net assets||||794,022||729,747| |Charity
Funds||||||| |Restricted
funds||13||4,793||38,796| |Pension reserve||13||6,000||| |Unrestricted
funds||13||783,229||690,951| |Total funds||||794,022||729,747| ## ## |TITAN PARTNERSHIP
LIMITED|||23| |---|---|---|---| |(A company
limited
by guarantee)|||| |STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31JULY 2021|||| ||||Total| ||||16mths| |||Total|01.04.2019| |||2021|to 31.07,2020| ||Note|E|E| |Cash flows from operating
activities|||| |Net cash provided
by operating
activities|15|68,729|213,522| |Cash flows from investing
activities:|||| |Proceeds from sale of investments|||| |Net cash provided
by investing
activities|||| |Change
in cash and cash equivalents
in the year||68,729|213,522| |Cash and cash equivalents
brought
forward||782,901|569,379| |Cash and cash equivalents
carried forward|16|851,630|782,901| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Income from donation
and|legacies|||| |---|---|---|---|---| |||||Total| ||Restricted|Unrestricted||16mths| ||Funds|Funds|Tota I|01.04.2019| ||2021|2021|2021|to31.07.2020| ||f|f|f|f| |Donations|90,794|44,330|135,124|17,909| ||||||||||||||||Total| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||Restricted||Unrestricted|||||16mths| ||||||||||Funds||Funds||Total|01.04.2019|| ||||||||||2021||2021||2021|to31.07.2020|| ||||||||||E||f||f||f| |Initial teacher||training||||||||284,427||284,427||383,124|| |CPD and training|||||||||||4,350|4,350|||9,170| |Funded project income||||||||390,583||||390,583||194,915|| |Membership||and services||||||||273,562||273,562||275,518|| |Other Income|||||||||||1,997|1,997|||9,345| |||||||||390,583||564,336||954,919||872,072|| |The income|from charitable||||activities from the||||charitable|company
for 2021||was|6976,125 (16||months| |ended 31July 2020|||6872,072) of which 6390,583 (2020:|||||||6209,752) was restricted|||and 6585,542 (2020:||| |6662,320) unrestricted.|||||||||||||||| |Included
in|funded||project||income|isfNil||(2020:E11,137)of project funding||||from the European|||Union| |and ENII (2020:fNil) of project funding|||||||from the||Arts Council of||England.||||| |Included
in|other income|||is|coronavirus||job retention
scheme grant
of ENil (2020E4,966).||||||||| |All terms and||conditions||of|government||funding||have been met.||||||| |Investment|Income||||||||||||||| ||||||||||||||||1otal| |||||||||Restricted||Unrestricted|||||16mths| ||||||||||Funds||Funds||Total|01.04.2019|| ||||||||||2021||2021||2021|to31.07.2020|| ||||||||||E||E||f||f| |Bank interest||receivable|||||||||346||346||330| ||||||||||||346||346||330| ## |5|Analysis|ofexpendit|ure|by activities||||| |---|---|---|---|---|---|---|---|---| ||||||Activities|||Total| ||||||undertaken|Support||16mths| ||||||directly|Costs|Total|01.04.2019| ||||||2021|2021|2021|to 31.07.2020| ||||||E|f|6|f| ||Initial teacher training||||86,481|158,131|244,612|346,175| ||CPD and|training|||6,957|25,045|32,002|59,130| ||Funded|projects/grants||costs|516,202|27,559|543,761|327,585| ||Skills, employability||and|careers||50,780|50,780|51,884| ||Membership
and services||||41,084|138,361|179,445|230,048| ||Tota I 2021||||650,724|399,876|1,050,600|1,014,822| ||Tota I 2020||||365,450|649,372||1,014I822| |6|Support|costs||||||| ||||||Initial|CPD||Skills,| ||||||teacher|and|Funded|employability| ||||||training|training|projects|and careers| ||||||f|f|f|f| ||Office overheads||||8,143|166|1,495|166| ||Office consumables||||17,910|2,360|21,239|2,360| ||Auditor's|remuneration|||3,654|||| ||Wages and salaries||||25,512|18,389|3,940|39,405| ||National|insurance|||95,687|2,355|505|5,046| ||Pension|cost|||7,225|1,775|380|3,803| ||||||158,131|25,045|27,559|50,780| ||Tota I 2020||||245,584|45,111|111,880|51,884| |||||||||Total| ||||||Membership|||16mths| ||||||and||Total|01.04.2019| ||||||services||2021|to31.07.2020| ||||||f||F.|f| ||Office overheads||||2,935||12,905|24,252| ||Office consumables||||41,695||85,564|101,321| ||Auditor's|remuneration|||5,481||9,135|5,765| ||Wages and salaries||||69,616||156,862|436,417| ||National|insurance|||8,915||112,508|45,967| ||Pension|cost|||9,719||22,902|35,650| ||||||138,361||399,876|649,372| ||Tota I 2020||||194,913|||649,372| ## ## |||| |---|---|---| |Staff costs||Total| |||16mths| ||Tote I|01.04.2019| |Staff costs were as follows:|2021|to31.07.2020| ||E|f| |Wages and salaries|344,922|473I216| |Social security costs|35,370|46,467| |Pension costs|26,729|36,405| ||407,021|556,088| |||16mths| |---|---|---| |Total||01.04.2019| |2021|to|31.07.2020| |No||No| |11||12| |The number|of higher paid employees|was:| |---|---|---| |In the band|E70,001-E80,000|| |In the band|f100,001-6110,000|| ## ## |Pension contributions
pa
|id
in the year to defined contrib|ution
schemes|were f20,597(2|020:E22,764).| |---|---|---|---|---| |Net income/(expenditure)||||Total| |||||16mths| |This is stated after charging:|||Total|01.04.2019| ||||2021|to31.07.2020| ||||f|E| |Auditor's
remuneration|- audit||5,900|6,930| |Auditor's
remuneration|—other services||2,095|2,280| |During the year, no Trustees received any remuneration||or reimbursed|expenses (2020-|fNIL).| ## ## |9|TangIble fixed assets|TangIble fixed assets||Fixture| |---|---|---|---|---| |||||and Fittings| |||||E| ||Cost|||| ||At 1August 2020 and 31July 2021|||8,160| ||Depreciation|||| ||At 31August 2020 and 31July 2021|||8,160| ||Net book value|||| ||At 31July 2021|||| ||At 31July 2020|||| |10|Fixed asset investments|||| |||||Total| ||Market value/cost|||f| ||At 31July 2020|||265,580| ||Amount
written|off||| ||Revaluations|||15,486| ||At 31July 2021|||281,066| |11|Debtors|||| ||||2021|2020| ||||E|f| ||Trade debtors||26p340|33,933| ||Other debtors||1,127|| ||Prepayments
and accrued income||17,188|59,224| ||||44,655|93,157| ## ## ## |||||||||2021||2020| |---|---|---|---|---|---|---|---|---|---|---| |||||||||||f| |Trade creditors||||||||231||13,077| |Other taxation
and|social security|||||||56,789||47,981| |Other creditors||||||||657977||56,297| |Accruals and deferred||income||||||266,332||294,536| |||||||||389,329||411,891| |||||||||2021||2020| |Deferred
income||||||||f||f| |Deferred
income at 31July 2020||||||||193,693||30,388| |Resources deferred|during the||year|||||1507291||193,693| |Amounts
released|from previous|||years||||(193,693)||(30,388)| |Deferred income at 31July 2021||||||||150,291||193,693| |Statement offunds||||||||||| ||||Balance||at|||||Balance at| |||||1August||Incoming|Resources|Transfer|Gains/|31July| |||||2020||Resources|Expended|in/out|(Losses)|2021| ||||||f||f|f|f|f| |Unrestricted
funds||||||||||| |General
funds|||690,951|||609,012|(531,398)|(822)|15,486|783,229| |Restricted funds||||||||||| |European
funding||||6,643||14,198|(20,841)|||| |Computers
for children||||||90,794|(91,616)|822||| |Developing
Local Provision||||||4,456|(4,456)|||| |Gangs and Violence|Fund|||4,793||||||4,793| |3Ms||||4,689||2,000|(6,689)|||| |YEF - CRC||||22,671||369,929|(392,600)|||| |Vinci Foundation||||||||||| |Total restricted funds||||38,796||481,377|(516,202)|822||4,793| |Restricted
Pension|Fund|||||||||| |Pension
Reserve|||||||(3,000)|3,000|6,000|6,000| |Total funds|||729,747|||1,69D,289|42,969,690)|O,ODD|21,486|794,D22| ## ## ## ## ## |||||||As Restated|As Restated|||Balance at| |---|---|---|---|---|---|---|---|---|---|---| ||||||Balance at|Incoming|Resources|Transfer|Gains/|31July| ||||||1April 2019|Resources|Expended|in/out|(Losses)|2020| ||||||f|E|f|E|f|E| |Unrestricted|funds|||||||||| |General funds|||||671,042|680,559|(687,237)||26,587|690,951| |Restricted funds||||||||||| |European
funding||||||12,178|(5,535)|||6,643| |Inclusion
and|opportunitY||||79,538||(79,538)|||| |Independent|||||39,738||(39,738)|||| |ITT||||||14,837|(14,837)|||| |Caring 8 participating||||projec|9,643||(9,643)|||| |All kinds ofeverything||||projei|11,710||(11,710)|||| |STEM careers|workshop||||16,000||(16,000)|||| |Gangs and Violence|||Fund|||20,130|(15,337)|||4,793| |3Ms||||||20,333|(15,644)|||4,689| |YEF - CRC||||||138,074|(115,403)|||22,671| |Vinci Foundation||||||4,200|(4,200)|||| |Total restricted||funds|||156,629|209,752|(327,585)|||38,796| |Total funds|||||827,671|890,311|(1,014,822)||26,587|729,747| ## ## |Fund balances at 31July 2021 are repr|esented
by:|||| |---|---|---|---|---| |||Restricted||| ||Restricted|Pension|Unrestricted|| ||Funds|Funds|Funds|Total| ||f||E|f| |Fixed asset investments|||281,066|281,066| |Current assets|4,793||891,492|896,285| |Creditors due within one year|||(389,329)|(389,329)| |Defined benefit pension scheme||6,000||6,000| ||4,793|6,000|783,229|794,022| ||||||Restricted|Unrestricted|Unrestricted|| |---|---|---|---|---|---|---|---|---| ||||||Funds||Funds|Total| ||||||f||f|f| ||Fixed asset investments||||||265,580|265,580| ||Current assets||||38,796||837,262|876,058| ||Creditors due within||one|year|||(411,891)|(411,891)| ||||||38,796||690,951|729,747| |15|Reconciliation
ofnet||movement||in funds to net cash flow from operating||activities|| ||||||||2021|2020| ||||||||f|f| ||Net income/(expenditure)|||for the year (as per Statement of||||| ||Financial Activities)||||||42)789|(124p511)| ||Adjustment
for:|||||||| ||Decrease
in debtors||||||48,502|115,444| ||(Decrease)/increase||in creditors||||(22,562)|222,589| ||Net cash provided|by operating|||activities||68,729|213,522| |16|Analysis of cash and||cash|equivalents||||| ||Cash in hand||||||851,630|782p901| ||Total||||||851,630|782,901| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Principal
Actuarial
Ass|umptio|ns||||| |---|---|---|---|---|---|---| |The major assumptions|used|by the|actuary were:|||At 31July
2021| |Discount rate||||||%per
1.60%| |Salary increases||||||3.75%| |Pension increase||||||2.75%| |Sensitivity
analysis for|the principal||assumptions|used to|measure|At 31July| |the scheme liabilities were as||follows:||||2021| |||||||f'000| |Discount rate increased|by 0.196per||annum|||225| |Adjustment
to pension|increases
and deferred|||revaluation|+0.1%|243| |Life expectancy at retirement||increased
by 1 year||||243| ## ## ||||At 31July| |---|---|---|---| ||||2021| |Longevity
at age 65 retiring today|||years| |—Men|||21.6| |- Women|||24.0| |Longevity
at age 65 retiring
in 20years|||| |- Men|||23.4| |- Women|||25.8| |The Academy's
share|ofthe assets in the scheme were:||Fair value At| ||||31July 2021| ||||E'000| |Equity instruments|||145| |Debt instruments|||20| |Property|||17| |Cash|||9| |Other|||49| |Total market value ofassets|||| |Present value ofscheme liabilities|||| |-Funded|||(240)| |- Unfunded|||234| |Total liabilities|||240| |Surplus
in the scheme|||| |The actual return
on the scheme assets||in the year was f31,000.|| |Amounts
recognised|In the Statement of Financial Activities||2021| ||||E'000| |Current service cost|||7| |Interest income|||(3)| |Interest cost|||3| |Administration
costs|||| |Total operating
charge|||| ||||2021| |Changes
In surplus
during the year|||E'000| |Balance at 1August 2020|||| |Transfer
in of pension|surplus||(3)| |Movement
in year:|||| |- Employer service cost (net of employee||contributions)|7| |—Employer contributions|||(4)| |- Expected return
on scheme assets|||(3)| |—Interest cost|||3| |- Actuarial
gain|||(6)| |Surplus
in the scheme|at 31July 2021||(6)| ## ## |(A company
limited
by guarantee)|(A company
limited
by guarantee)||| |---|---|---|---| |NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED||31JULY 2021(cont'd)|| |20 PENSION AND SIMILAR OBLIGATIONS (cont'd)|||| |Changes
in the present value of defined
follows:|benefit obligations|were as|2021
f'000| |Balance at 1August 2020|||| |Transfer
In of pension
liabilities|||199| |Current service cost|||5| |Past service cost|||2| |Interest cost|||3| |Contributions
bv scheme participants|||| |Benefits paid|||| |Actuarial
loss|||25| |Scheme liabilities at 31July 2021|||| |Changes
In the fair value of academy's|share of scheme assets:||2021
f'000| |Balance at 1August 2020|||| |Transfer
in of pension assets|||202| |Expected return
on scheme assets|||3| |Actuarial
gain|||31| |Contributions
by emplover|||4| |Benefits paid|||| |Administration
expenses|||| |Contributions
by scheme participants|||| |Fair value of scheme assets at 31Julv 2021||||