2023-07-31-accounts

CONTENTS
Reference and administrative		details ofthe charity,	its trustees	and advisers
Trustees' report
Trustees' responsibilities statement					15
Independent auditors'	report				16
Statement offinancial	activities				20
Balance sheet					21
Statement ofcash flows					22
Notes to the financial	statements				23

Trustees					Paul Doddridge
					Nicola Hutchison
					Daniel Locke-Wheaton	(Chair of		Trustees)
					Georgina Kearnery-Bambridge
					Anne-Maire Mason
					Jaspal Rohel (Resigned	30	November		2023)
					Jonathan Mortimer
					Alex Lofthouse (Appointed		1September 2023)
					Joanne Tyler (Appointed	1	September2023)
					Fiona Atherton (Appointed		1September 2023)
Company	registered			number	04005034
Charity registered			number		1081749
Registered		office			Faraday Wharf
					Holt Street
					Birmingham
					B74BB
Chief executive officer					Carolyn Chapman —Lees /		Sheila	Sturgeon
Independent		auditors			UHY Hacker Young (Birmingham)			LLP
					9-11Vittoria Street
					Birmingham
					B13ND
Bankers					Lloyds TSBPlc
					114-116Colmore Row
					Birmingham
					B32FD

				Restricted	Unrestricted	Total	Total
				Funds	Funds	2023	2022
			Note	E	E	E	E
Income and endownments		from:
Donations and legacies					15,659	15,659	26,813
Charitable activities				213,085	545,298	758,383	1,002,701
Investment income					3,235	3,235	87
Tota I income and endownments				213,085	564,192	777,277	1,029,601
Expenditure on:
Charitable activities				215,293	670,251	885,544	1,055,375
Tota I expenditure				215,293	670,251	885,544	1,055,375
Net income/(expenditure)				(2,208)	(106,059)	(108,267)	(25,774)
Transfers between Funds			13	2,208	(2,208)
					(108,267)	(108,267)	(25,774)
Other recognised gains and		losses
Net gain/(loss) on investments			10		2,205	2,205	(15,699)
Actuarial gain on defined	benefit
pension schemes			19
Net movement in funds					(106,062)	(106,062)	(41,473)
Reconciliation offunds:
Total funds brought forward			13	6,196	746,353	752,549	794,022
Total funds carried forward			13	6,196	640,291	646,487	752,549

BALANCE SHEETAS	AT31JULY 2023
				2023		2022
Fixed assets		Note		E		E
Tangible assets		9
Investments		10		267,572		265,367
				267,572		265,367
Current assets
Debtors		11	78,628		35,930
Cash at bank and in	hand		589,583		959,597
					995,527
			668,211
Creditors: amounts	falling due within one year	12	(295,296)		(514,345)
Net current assets				372,915		481,182
				640,487		746,549
Defined Benefit Pension Scheme Asset		19		6,000		6,000
Net assets				646,487		752,549
Charity Funds
Restricted funds		13		196		196
Pension reserve		13		6,000		6,000
Unrestricted funds		13		640,291		746,353
Total funds				646,487		752,549

Cash	flows from operating	activities
Net	cash (used in)/provided	by operating	activities

	Total	Total
	2023	2022
Note	E	E
15	(370,014)	107,967

	(370,014)	107,967
	959,597	851,630
16	589,583	959,597

	Restricted	Unrestricted	Total	Total
	Funds	Funds	2023	2022
		E	E	E
Donations		15,659	15,659	26,813

		Restricted	Unrestricted	Total	Total
		Funds	Funds	2023	2022
			E	E	E
Initial teacher	training		249,347	249,347	232,645
CPD and training			7,032	7,032	8,803
Funded project income		213,085		213,085	490,469
Membership	and services		286,444	286,444	268,784
Other Income			2,475	2,475	2,000
		213,085	545,298	758,383	1,002,701

			Restricted	Unrestricted	Total	Total
			Funds	Funds	2023	2022
			E	E	E	E
Bank	interest	receivable		3,235	3,235	87
				3,235	3,235	87

5	Analysis ofexpen	dit	ure	by activities
					Activities
					undertaken	Support
					directly	Costs	Total	Total
					2023	2023	2023	2022
					f	f	f	f
	Initial teacher training				37,599	192,597	230,196	309,677
	CPD and training				17,674	5,432	23,106	24,425
	Funded projects/grants			costs	215,293	164,587	379,880	571,073
	Skills, employability		and	careers				32,886
	Membership and	services			14,607	225,660	240,267	117,314
	Sponsorships					12,095	12,095
	Tota I2023				285,173	600,371	885,544	1,055,375
	Tota I2022				373,281	682,094		1,055,375
6	Support costs
					Initial	CPD		Skills,
					teacher	and	Funded	employability
					training	training	projects	and careers
					f	f	f
	Office overheads				46,113	1,301	39,406
	Office consumables				3,002	85	2,565
	Auditor's remuneration				3,625	102	3,098
	Wages and salaries				116,210	3,277	99,310
	National insurance				14,212	401	12,145
	Pension cost				8,744	247	7,473
	Agency suppport	staff			691	19	590
	Tota I2023				192,597	5,432	164,587
	Tota I2022				323,055	3,264	205,575	32,886
					Membership
					and		Total	Total
					services	Sponsorships	2023	2022
					f	f	f	f
	Office overheads				54,030	2,896	143,746	22,885
	Office consumables				3,517	189	9,358	70,441
	Auditor's remuneration				4,247	228	11,300	8,425
	Wages and salaries				136,161	7,298	362,256	498,932
	National insurance				16,651	892	44,301	50,112
	Pension cost				10,245	549	27,258	31,159
	Agency suppport	staff			809	43	2,152	140
	Tota I2023				225,660	12,095	600,371	682,094
	Tota I2022				117,314			682,094

ES TO THE FINANCIAL STATEMENTS FOR Staff costs	THE YEAR ENDED 31JULY 2023 (cont'd)
	Total	Total
Staff costs were as follows:	2023	2022
	E	E
Wages and salaries	362,256	498,932
Social security costs	44,301	50,112
Pension costs	27,258	31,159
Agency staff costs	2,153	140
	435,968	580,343
The average number ofpersons employed	by the charity during the year was as follows:

llows:
Total	Total
2023	2022
No	No
13	15

The number of higher paid employees	was:
In the band f60,001-f70,000
In the band f70,001-f80,000
In the band f80,001-f90,000

Pension contributions p	Pension contributions p	aid in the year to defined contribution	schemes were f23,658(2022:	f27,231).
Net (income)/expenditure
This is stated after charging:			Total	Total
			2023	2022
			E	E
Auditor's	remuneration	- audit	6,150	5,450
Auditor's	remuneration	—other services	1,500	2,975

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31JULY 2023 (cont'd)
9 Tangible fixed assets

Fixed asset in	ve	stments
				Total
Market value/cost				E
At 1August 2022				265,367
Amount written		off
Revaluations				2,205
At 31July 2023				267,572
Debtors
			2023	2022
			E	E
Trade debtors			31,515	5,721
Other debtors			11,796	1,077
Prepayments	and accrued income		35,317	29,132
			78,628	35,930

						2023	2022
						f	f
Trade creditors						14,819	15,110
Other taxation and	social security					65,201	67,803
Other creditors						64,279	105,040
Accruals and deferred		income				150,997	326,392
						295,296	514,345
						2023	2022
Deferred income						E	E
Deferred income at 31July 2022						210,762	150,291
Resources deferred	during the year					29,675	210,762
Amounts released from previous years						(210,762)	(150,291)
Deferred income at 31July 2023						29,675	210,762
Statement offunds
			Balance at				Balance at
			1August	Incoming	Resources	Gains/	31July
			2022	Resources	Expended	(Losses)	2023
				E	E	E	E
Unrestricted funds
General funds			746,353	564,192	(670,251)	(3)	640,291
Restricted funds
European funding				(2,208)		2,208
Computers for children			196				196
Developing Local Provision				194,387	(194,387)
Gangs and Violence	Fund
3Ms				19,406	(19,406)
YEF - CRC				1,500	(1,500)
Tota I restricted funds			196	213,085	(215,293)	2,208	196
Restricted Pension	Fund
Pension Reserve			6,000				6,000
Total funds			752,549	777,277	(885,544)	2,205	646,487

				Balance at	As Restated	As Restated		Balance at
				1August	Incoming	Resources	Gains/	31July
				2021	Resources	Expended	(Losses)	2022
					E	E	E	E
Unrestricted funds
General funds				783,229	538,936	(560,113)	(15,699)	746,353
Restricted	funds
European	funding				46,219	(46,219)
Computeres 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)
Tota I 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

Fund balances at 31July 2023 are rep	resented by:
		Restricted
	Restricted	Pension	Unrestricted
	Funds	Funds	Funds	Total
	E		E	E
Fixed asset investments			267,572	267,572
Current assets	10,196		658,015	668,211
Creditors due within one year	(10,000)		(285,296)	(295,296)
Defined benefit pension scheme		6,000		6,000
	196	6,000	640,291	646,487

Fund balances at 31July 2022 are rep	resented by:
		Restricted
	Restricted	Pension	Unrestricted
	Funds	Funds	Funds	Total
			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

						2023	2022
						E	E
	Net expenditure	for	the year	(as per Statement of Financial
	Activities)					(108,267)	(25,774)
	Adjustment for:
	(Increase)/decrease		in debtors			(42,698)	8,725
	(Decrease)/increase		in creditors			(219,049)	125,016
	Net cash (used in)/provided			by operating	activities	(370,014)	107,967
16	Analysis ofcash	and	cash equivalents
	Cash in hand					589,583	959,597
	Total					589,583	959,597

an average contrib	ution	rate 5.87%for	rate 5.87%for	employees.	employees.
No LGPS valuation	has	been performed		for 31 July 2023		as the valuation		is not material		to the
financial statements. An LGPS valuation				will be	performed	for year	ending	31July 2024.
Principal Actuarial	Assumptions at		31July 2023
The major assumptions		used by the	actuary were:					At 31July 2023	At 31July 2022
							%	per annum		%per
										annum
Discount rate								1.60%		1.60%
Salary increases								3.75%		3.75%
Pension increase								2.75%		2 75%
Sensitivity analysis	for	the principal	assumptions		used to measure			At 31July	At 31July
								2023f		2022 f
Discount rate increased		by 0.1%per	annum					225,000		225,000
Adjustment to pension		increases and deferred			revaluation	by 0.1%		243,000		243,000
Life expectancy at	retirement increased			by 1year				243,000		243,000

						At 31July	At 31July
						2023	2022
Longevity at age 65 retiring					today	years	years
—Men						21.6	21.6
-Women						24.0	24.0
Longevity at age 65 retiring					in 20years
- Men						23.4	23.4
-Women						25.8	25.8
The Charity's share ofthe assets in the scheme were:						Fair value	Fair value
						At 31July	At 31July
						2023	2022
						E	E
Equity instruments						153,223	149,000
Debt instruments						21,595	21,000
Property						18,510	18,000
Cash						9,255	9,000
Other						51,417	50,000
Total market value ofassets						254,000	247,000
Present value	of	scheme		liabilities
- Funded						(254,000)	(247,000)
- Unfunded						248,000	241,000
Total liabilities						(254,000)	(247,000)
Surplus in the	scheme					(6,000)	(6,000)
The actual return		on the scheme assets in the year was fNil (2022:fNil).
Amounts recognised			in the		Statement of Financial Activities	2023	2022
						E	E
Current service cost						4,000	4,000
Interest income						(3,000)	(3,000)
Interest cost						3,000	3,000
Administration	costs
Total amount	recognised			in the SOFA		4,000	4,000

Pensions and similar obligations (cont'd	)
				2023	2022
Changes in surplus during the year				f	E
Balance at 1August				(6,000)	(6,000)
Transfer in of pension surplus
Movement in year:
—Employer service cost (net ofemployee		contributions)		4,000	4,000
- Employer contributions				(4,000)	(4,000)
- Expected return on scheme assets				(3,000)	(3,000)
—Interest cost				3,000	3,000
-Actuarial gain
Surplus in the scheme at 31July				(6,000)	(6,000)
Changes in the present value ofdefined		benefit obligations	were as	2023	2022
follows:
Balance at 1August				241,000	234,000
Transfer in of pension liabilities
Current service cost				4,000	4,000
Past service cost
Interest cost				3,000	3,000
Contributions by scheme participants
Benefits paid
Actuarial loss
Scheme liabilities at 31July				248,000	241,000
Changes in the fair value ofacademy's	share ofscheme assets:			2023	2022
Balance at 1August				247,000	240,000
Transfer in of pension assets
Expected return on scheme assets				3,000	3,000
Actuarial gain
Contributions by employer				4,000	4,000
Benefits paid
Administration expenses
Contributions by scheme participants
Fair value ofscheme assets at 31July				254,000	247,000