2022-07-31-accounts

Reference and administrative details ofthe charity,	its trustees	and advisers
Trustees' report
Trustees' responsibilities statement			16
Independent auditors' report			17
Statement of financial activities			21
Balance sheet			22
Statement ofcash flows			23
Notes to the financial statements			24

Trustees					Paul Doddridge
					David Hardman
					Nicola Hutchison
					Daniel Locke-Wheaton
					Georgina Kearnery-Bambridge		(Appointed		5 January 2022)
					Anne-Maire Mason
					Jaspal Rohel
					Jonathan Mortimer
Company	registered			number	04005034
Charity registered			number		1081749
Registered		office			75 Harborne Road
					Birmingham
					B153DH
Chief executive officer					Carolyn Chapman-	Lees
Independent		auditors			UHY Hacker Young	(Birmingham)		LLP
					9-11Vittoria Street
					Birmingham
					B13ND
Bankers					Lloyds TSBPie
					114-116Colmore Row
					Birmingham
					B32FD

				Restricted	Unrestricted	Total	Total
				Funds	Funds	2022	2021
			Note	E	E	E	f
income and endownments		from:
Donations and legacies			2	196	26,617	26,813	135,124
Charitable activities			3	490,469	512,232	1,002,701	954,919
Investment income			4		87	87	346
Transfer in of LGPS pension		surplus	19				3,000
Total income and endownments				490,665	538,936	1,029,601	1,093,389
Expenditure on:
Charitable activities			5	495,262	560,113	1,055,375	1,050,600
Total expenditure				495,262	560,113	1,055,375	1,050,600
Net income/(expenditure)				(4,597)	(21,177)	(25,774)	42,789
Transfers between Funds			13
Other recognised gains and		losses		(4,597)	(21,177)	(25,774)	42,789
Net (loss)/gain on investments Actuarial gain on defined benefit			10		(15,699)	(15,699)	15,486
pension schemes			19				6,000
Net movement in funds				(4,597)	(36,876)	(41,473)	64,275
Reconciliation offunds:
Total funds brought forward			13	10,793	783,229	794,022	729,747
Total funds carried forward			13	6,196	746,353	752,549	794,022

(A company limit	ed	by guarantee)
BALANCE SHEET	AS	AT31JULY 2022
					2022		2021
Fixed assets			Note		f		f
Tangible assets			9
Investments			10		265,367		281,066
					265,367		281,066
Current assets
Debtors			11	35,930		44,655
Cash at bank and	in	hand		959,597		851,630
				995,527		896,285
Creditors: amounts		falling due within one year	12	(514,345)		(389,329)
Net current assets					481,182		506,956
					746,549		788,022
Defined Benefit	Pension Scheme Asset		19		6,000		6,000
Net assets					752,549		794,022
Charity Funds
Restricted funds			13		196		4,793
Pension reserve			13		6,000		6,000
Unrestricted funds			13		746,353		783,229
Total funds					752,549		794,022

STATEMENT OF CASH FLOWS FOR	THE YEAR ENDED 31JULY 2022
			Total	Total
			2022	2021
		Note	f	f
Cash flows from operating activities
Net cash provided by operating activities		15	107,967	68,729
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		107,967	68,729
Cash and cash equivalents brought forward			851,630	782,901
Cash and cash equivalents carried forward		16	959,597	851,630

	Restricted	Unrestricted	Total	Total
	Funds	Funds	2022	2021
	E	f	E	E
Donations	196	26,617	26,813	135,124

		Restricted	Unrestricted	Total	Total
		Funds	Funds	2022	2021
		6	f	f	6
Initial teacher	training		232,645	232,645	284,427
CPD and training			8,803	8,803	4,350
Funded project income		490,469		490,469	390,583
Membership	and services		268,784	268,784	273,562
Other Income			2 000	2 000	1,997
		490,469	512,232	1,002,701	954,919

			Restricted	Unrestricted	Total	Total
			Funds	Funds	2022	2021
			6	E	E	E
Bank	interest	receivable		87	87	346
				87	87	346

5	Analysis ofexpend	iture	by activities
				Activities
				undertaken	Support
				directly	Costs	Total	Total
				2022	2022	2022	2021
				f	E	E	f
	Initial teacher training			34,508	275,169	309,677	244,612
	CPD and training Funded projects/grants costs Skills, employability and careers Membership and services Total 2022			21,161 317,612 373,281	3,264 253,461 32,886 117,314 682,094	24,425 571,073 32,886 117,314 1,055,375	32,002 543,761 50,780 179,445 1,050,600
	Tota I 2021			650,724	399,876		1,050,600
6	Support costs
				Initial	CPD		Skills,
				teacher	and	Funded	employability
				training f	training f	projects f	and careers E
	Office overheads			19,224	48	2,539	146
	Office consumables			22,420	640	33,307	1,921
	Auditor's remuneration			8,425
	Wages and salaries National insurance			212,802 38,537	2,220 204	163,431 4,453	27,110 2,248
	Pension cost			21,507	152	1,845	1,461
	Agency suppport Total 2022	staff		140 323,055	3,264	205,575	32,886
	Total 2021			158,131	25,045	27,559	50,780
				Membership
				and		Total	Total
				services		2022	2021
				E		E	E
	Office overheads			928		22,885	12,905
	Office consumables			12,153		70,441	85,564
	Auditor's remuneration					8,425	9,135
	Wages and salaries National insurance			93,369 4,670		498,932 50,112	156,862 112,508
	Pension cost			6,194		31,159	22,902
	Agency suppport Total 2022	staff		117,314		140 682,094	399,876
	Total 2021			138,361			399,876

Staff costs
	Total	Total
Staff costs were as follows:	2022	2021
	f	f
Wages and salaries	498,932	344,922
Social security costs Pension costs	50,112 31,159	35,370 26,729
Agency staff costs	140
	580,343	407,021

llows:
Total	Total
2022	2021
No	No
15	11

The number of higher	paid employees	was:
In the band E70,001 -	E80,000
In the band 680,001-	E90,000

The pension contributions paid in the	yea	r were f3,928 (2021	r were f3,928 (2021	:E3,713)	.	.
Pension contributions paid in the year	to	defined contribution		schemes	were f27,231(2021:620,597).
Net (income)/expenditure
This is stated after charging:					Total	Total
					2022	2021
					f	E
Auditor's remuneration -audit Auditor's remuneration -other services					5,450 2,975	5,900 2,095
During the year, no Trustees received	any	remuneration	or reimbursed		expenses (2021-fNIL).

10	Fixed asset in	ve	stments
					Total
	Market value/cost				f
	At 31July 2021				281,066
	Amount written		off
	Reva luations				(15,699)
	At 31July 2022				265,367
11	Debtors
				2022	2021
				f	E
	Trade debtors			5,721	26,340
	Other debtors			1,077	1127
	Prepayments	and accrued income		29,132 35,930	17,188 44,655

										2022		2021
										f		f
Trade creditors										15,110		231
Other taxation and		social security								67,&03		56,789
Other creditors										105,040		65,977
Accruals and deferred				income						326,392		266,332
										514,345		389,329
										2022		2021
Deferred	income									f		f
Deferred	income at		31	July 2021						150,291		193,693
Resources	deferred		during the		year					210,762		150,291
Amounts	released	from		previous		years				(150,291)		(193,693)
Deferred	income at		31	July 2022						210,762		150,291
Statement	offunds
					Balance at							Balance at
					1	August		Incoming	Resources	Transfer	Gains/	31July
							2021 f	Resources f	Expended f	in/out f	(Losses) f	2022 f
Unrestricted funds
General funds					783,229			538,936	(560,113)		(15,699)	746,353
Restricted	funds
European	funding							46,219	(46,219)
Computers	for children							196				196
Developing	Local Provision							87,935	(87,935)
Gangs and	Violence	Fund				4,793		5,834	(10,627)
3Ms								20,021	(20,021)
YEF - CRC								330,460	(330,460)
Total restricted funds						4,793		490,665	(495,262)			196
Restricted	Pension	Fund
Pension Reserve						6,000						6,000
Total funds					794,022			1,029,601	(1,055,375)		(15,699)	752,549

			Balance at	As Restated	As Restated			Balance at
			1August	Incoming	Resources	Transfer	Gains/	31July
			2020	Resources	Expended	in/out	(Losses)	2021
			f	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)
Inclusion and opportunity				90,794	(91,616)	822
Independent				4,456	(4,456)
ITT			4,793					4,793
Caring Ik participating		proje&	4,689	2,000	(6,689)
All kinds of everything		proje	22,671	369,929	(392,600)
STEM careers workshop
Gangs and Violence	Fund
3Ms
YEF - CRC
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	1,090,389	(1,050,600)	3,000	21,486	794,022

Fund balances	at 31	July	2022 are repr	esented	by:
						Restricted
				Restricted		Pension	Unrestricted
					Funds	Funds	Funds	Total
					E	E	E	E
Fixed asset investments							265,367	265,367
Current assets					246,033		749,494	995,527
Creditors due	within	one year		(245,837)			(268,508)	(514,345)
Defined benefit pension			scheme			6,000		6,000
					196	6,000	746,353	752,549
Comparative	information		in respect ofthe preceeding			period is as follows:
Fund balances	at 31	July	2021are represented		by:
						Restricted
				Restricted		Pension	Unrestricted
					Funds	Funds	Funds	Total
					f	E	E	E
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

							2022	2021
							E	E
	Net (expenditure)/income			for the year (as per Statement		of
	Financial	Activities)					(25,774)	42,789
	Adjustment for:
	Decrease	in debtors					8,725	48,502
	Increase/(decrease)		in creditors				125,016	(22,562)
	Net cash	provided	by operating		activities		107,967	68,729
16	Analysis	ofcash and cash		equivalents
	Cash in hand						959,597	851,630
	Total						959,597	851,630

Principal Actuarial Assumptions at 31	Principal Actuarial Assumptions at 31	Principal Actuarial Assumptions at 31	July 2021	July 2021
The major assumptions	used	by the actuary were:				At 31July
						2021
						%per
						annum
Discount rate						160/
Salary increases						3.75%
Pension increase						2 75o/
Inflation Assumption						0.00%o
Commutation of Pensions to		lump sum				0.00%
Sensitivity analysis for	the principal assumptions			used to	measure	At 31July
						2021
						E'000
Discount rate increased	by 0.1%per annum					225
Adjustment to pension	increases and deferred			revaluation	by 0.1%	243
Life expectancy at retirement		increased	by 1year			243

								At 31July
								2021
Longevity at age -Men	65 retiring			today				years 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	Fair value
							At 31July	At 31July
							2022	2021
							E'000	E'000
Equity instruments							149	145
Debt instruments							21	20
Property							18	17
Cash							9	9
Other							50	49
Total market value ofassets							247	240
Present value of		scheme liabilities
-Funded							(247)	(240)
-Unfunded Total liabilities Surplus in the scheme							241 (247) ~6	234 (240
The actual return		on the scheme assets			in the year was ENil (2021	631,000).
Amounts recognised			in the Statement		of Financial Activities		2022 F.'000	2021 f'000
Current service	cost						4	7
Interest income							(3)	(3)
Interest cost								3
Administration	costs
Total amount recognised				In the SOFA

PENSION AND SIMILAR OBLIGATIONS	(	cont'd)
				2022	2021
Changes in surplus during the year				E'000	f'000
Balance at 1August				(6)
Transfer in of pension surplus					(3)
Movement in year:
- Employer service cost (net ofemployee		contributions)		4	7
- Employer contributions				(4)	(4)
—Expected return on scheme assets				(3)	(3)
- Interest cost —Actuarial gain Surplus in the scheme at 31July				~6	3 (6) ~(6
Changes in the present value ofdefined		benefit obligations	were as	2022	2021
follows:				E'000	E'000
Balance at 1August				234
Transfer in ofpension liabilities					199
Current service cost					5
Past service cost					2
Interest cost					3
Contributions by scheme participants
Benefits paid
Actuarial loss					25
Scheme liabilities at 31July				241	234
Changes in the fair value ofacademy's	share ofscheme assets:			2022	2021
				F.'000	f'000
Balance at 1August				240
Transfer in ofpension assets					202
Expected return on scheme assets					3
Actuarial gain					31
Contributions by employer					4
Benefits paid
Administration expenses
Contributions by scheme participants
Fair value ofscheme assets at 31July				247	240