**East Kent Education Business Partnership Limited trading as EBP Kent** East Kent Education Business Partnership Limited trading as EBP Kent - (A company limited by guarantee) ## Unaudited Trustees' report and financial statements for the year ended 31 December 2020 Page | 1 **East Kent Education Business Partnership Limited trading as EBP Kent** |Contents|Page| |---|---| |Reference and administrative details of the charity, its trustees and|3| |advisers|| |Trustees’ report and responsibilities statement|4-7| |Independent examiner’s report|8-9| |Statement of fnancial activities|10| |Balance sheet|11| |Notes to the fnancial statements|12-18| Page | 2 ## **East Kent Education Business Partnership Limited trading as EBP Kent** Reference and administrative details of the charitable company, its trustees and advisers for the year ended 31 December 2020. Trustees L Backler (appointed 11 April 2016) Company registered number 03233149 Charity registered number 1083379 Registered office Royal Harbour Academy Marlowe Way Ramsgate Kent CT12 6NB Company secretary A Watson Chief executive officer A McNulty Bankers National Westminster Bank Pic 47 High Street Broadstairs Kent CT10 1JN Page | 3 **East Kent Education Business Partnership Limited trading as EBP Kent** ## **Trustees' report** ## **for the year ended 31 December 2020** The Trustees present their annual report together with the financial statements of East Kent Education Business Partnership Limited, trading as EBP Kent, for the year from 1 January 2020 to 31 December 2020. Since the charitable company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. ## **Objectives and Activities** ## **a. Policies and objectives** The Company was constituted as a company limited by guarantee in March 1992, and a registered Charity in August 1996 and is therefore governed by a memorandum and articles of association. The Company's objective and its principal activity is to advance the education and training of young people and adults in Kent with particular regard to the development of commercial and business skills empowering them to be better prepared for the workplace and active economic citizens. The Company is organised with the directors meeting regularly to manage its affairs. ## **b. Activities for achieving objectives** Principal activities include: Work Related Learning Key Stages 1,2,3,4,5 Work Experience Key Stages 4,5 Extended Placements, Internships Mentoring Primary curriculum enhancement programmes Key Stage 1,2 Enterprise Projects Key Stage 1,2,3,4,5 Specialist Projects -All ages Science, Technology, Engineering, Maths (STEM) Working with vulnerable young people improving life chances Professional Information advice and guidance service for young people one to one Supporting schools to meet the Gatsby Benchmarks in line with Government priorities ## **Achievements and** ## **performance** ## **Review of activities** The focus of the activities during the year has been to development quality collaborative projects between business and education to enhance the understanding of employers’ expectations of young employees and to empower young people to make informed decisions about their progression. East Kent Education Business Partnership, trading as EBP Kent, aims to provide a relevance and freshness to the curriculum and improve businesses understanding of Page | 4 ## **East Kent Education Business Partnership Limited trading as EBP Kent** current developments in education. The pandemic was a significant factor throughout the year, with resulting operational and financial impact. Page | 5 **East Kent Education Business Partnership Limited trading as EBP Kent** ## **Trustees' report (continued) for the year ended 31 December 2020** ## **a. Review of activities (continued)** Last year, due to the pandemic, our usual Work Experience and our Events programme were paused. We were unable to deliver events for young people and employers, also work experience became impossible as businesses and services across the country went into lock down. This also meant a loss of all service income for these two areas of EBPK delivery, a significant loss. At the conclusion of the academic year, July 2020, we had managed to deliver a virtual ‘Business of Enterprise’ (Key stage 3 & 4) competition with exceptional virtual support from some key employers. Hundreds of young people participated from their lock down setting and managed to submit some impressive team entries. During the same period a creative competition was launched for young people of all ages and stages encouraging self-expression during this difficult time. The immediate sudden loss of all usual income (Work Experience and Events), was very challenging. This was met by application to emergency covid funding sources, to charities and trusts to try to keep a core service available including the most critical Careers Guidance. With many young people in very difficult circumstances it became important to focus on future plans and individual hopes and aspirations, working with young people one to one every day of the pandemic. This service was delivered throughout the academic year, by phone by virtual meetings, with many connections involving carers or parents. In the Autumn of 2020 it became clear the pandemic was gathering strength and after temporary return everything returned to a lock down status again. This again stopped all income for services but even more critical came the need to continue connecting with as many young people as possible. As well as projects focusing on the most disaffected students, EBP Kent created several new initiatives that navigated the restrictions caused by the pandemic, both via a virtual and face-toface format. The Virtual Careers Fair provided information and guidance, about careers pathways, apprenticeships opportunities, sector activities and CV pointers. We also created a separate area on the platform, a virtual theatre, where students could access a library of inspirational talks related to interview techniques, CV skills and careers or talks that were linked to specific sectors. The platform was developed internally and piloted in December 2020 to become a significant resource. Plans also began for a Work Experience Platform and programme for over 1,000 Kent students in Key Stage 4 and sixth form, to try to have some sort of service for young people during this time. During this difficult time some staff were furloughed. This Government provision enabled the Charity to survive the pandemic and remain a going concern. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. ## **b. Reserves policy** The Trustee's policy was to hold unrestricted funds of £50,000. We are aiming to increase current reserves over the next 2-3 years. Page | 6 **East Kent Education Business Partnership Limited trading as EBP Kent** **Trustees' report (continued) for the year ended 31 December 2020** **Structure, governance and** ## **management a. Constitution** The charitable company is registered as a charitable company limited by guarantee and was constituted under a Charity Commission Scheme on 2 August 1996 and became a registered charity on 13 November 2000, number 1083379. ## **b. Method of appointment or election of Trustees** The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Charity Commission Scheme. ## **c. Organisational structure and decision making** The company's Steering Group that includes the Trustees, meet regularly to manage its affairs. The charitable company has contracted Mrs A McNulty as Director of the charity together with an operational team for the day to day running of the charitable company. The operational team comprised of 3 full time staff and six part time staff covering administration and specific projects. The directors and trustees during the year were: Occupation Laurence Backler Business Development – Metro Bank Andrew Watson Company Lawyer John Wingfield Company Managing Director Andrew Olsson Education Specialist All directors are non-executive and receive no remuneration, and no expenses were reimbursed. Each of the directors has guaranteed £1 in the event that the Company is wound up. ## **Plans for future** ## **periods** ## **a. Future** ## **developments** The charitable company will continue to grow, working with schools across the county to develop programmes suitable for young people, supported by employers, aiding successful progression The Charity aims to broker high quality engagement and experiences for all students. Whilst some programmes might reach smaller numbers the aim would be for all young people to have appropriate activities over the course of the academic year, in many cases four or five times during the year – Work Experience, Professional Guidance, Sector specialist project, Careers Exhibition, interactive workshops to name but a few of the possible engagements. Innovation and change remains core to the work of EBP Kent, each year a minimum of three new kinds of work are developed to increase the range and form of employer engagement with schools. Page | 7 ## **East Kent Education Business Partnership Limited trading as EBP Kent** These include: Bespoke work for three National Employers Economic Development support for Districts within Kent Detailed work with the Association of Education Business Professionals and the National context. Page | 8 ## **East Kent Education Business Partnership Limited trading as EBP Kent** ## **Trustees' report (continued) for the year ended 31 December 2020** ## **Trustees' responsibilities statement** The Trustees (who are also the directors of East Kent Education Business Partnership for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustee must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the Trustee on 15 September 2021 and signed on their behalf by: ## **A Watson** Company secretary Page | 9 **East Kent Education Business Partnership Limited trading as EBP Kent** ## **Independent examiner's report for the year ended 31 December 2020** ## **Independent examiner's report to the Trustees of East Kent Education Business Partnership Limited trading as EBP Kent** I report on the financial statements of the charitable company for the year ended 31 December 2019 which are set out on pages 10 to 18. This report is made solely to the charitable company's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charitable company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's Trustees as a body, for my work or for this report. The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on the after 1 January 2015. ## **Respective responsibilities of Trustees and examiner** The Trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. The charitable company's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants England and Wales. Having satisfied myself that the charitable company is not subject to audit under charity or company law and is eligible for independent examination, it is my responsibility to: - examine the financial statements under section 145 of the Act; - follow the procedures laid down in the general Directions given by the Charity Commission - under section 145(5)(b) of the Act; - and - state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below. Page | 10 East Kent Education Business Partnership Limited trading as EBP Kent Page | 11 ## **East Kent Education Business Partnership Limited trading as EBP Kent** ## **Independent examiner's report (continued) for the year ended 31 December 2020** ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare financial statements which accord with the accounting records, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) and in other respects comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities. have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Signed: Dated: Mr T Rosser LLB, ACA. Page | 12 ## **East Kent Education Business Partnership Limited trading as EBP Kent** Statement of financial activities incorporating income and expenditure account for the year ended 31 December 2020 |Note
Income from:
Charitable activities:
2
Covid JRS Grant
Investments:
3
Total income:
Expenditure on:
Charitable activities:
4
Total expenditure:
Net movement in funds:
Total funds brought forward:
Total funds carried forward:|Restricted
funds
Unrestricted
funds
Total funds
Total
funds
2020
2020
2020
2019
£
£
£
£
5,500
172,351
177,851
229,838
84,815
84,815
7
7
14| |---|---| ||5,500
257,173
262,673
229,852| ||255,396
255,396
226,706| ||255,396
255,396
226,706| ||5,500
1,777
7,277
3,146
3,271
3,271
125| ||5,500
5,048
10,548
3,271| All activities relate to continuing operations Page | 13 **East Kent Education Business Partnership Limited trading as EBP Kent** The notes on pages 12 to 18 form part of these financial statements. Registered number: 03233149 |Balancesheet
as at 31 December2020
Note
Fixed Assets
5&7
Currentassets
Debtors
8
Cash at bank and inhand
Creditors: amounts falling due within
year
9
Net currentassets
Netassets
CharityFunds
Restrictedfunds
10
Unrestrictedfunds
10
Total surplus/defcit|£
7,632
22,694
(13,68
~~5)~~|2020
£
1,539
9,009
10,54
~~8~~
5,500
5,048
10,54
~~8~~|£
2019
£
23,707
1,786
25,493
(22,222)
3,271
3,271
0
3,271
3,271|£
2019
£
23,707
1,786
25,493
(22,222)
3,271
3,271
0
3,271
3,271| |---|---|---|---|---| |||||| |||||0
3,271| |||||3,271| The Trustees consider that the charitable company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and the member does not require the charitable company to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved by the Trustee on and signed on their behalf, by: .- _) ,_ The notes on pages 12 to 18 form part of these financial statements. Page | 14 **East Kent Education Business Partnership Limited trading as EBP Kent** ## **Notes to the financial statements for the year ended 31 December 2020** ## **1. Accounting policies** ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)(Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 East Kent Education Business Partnership Limited trading as EBP Kent meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **1.2 Reconciliation with previous Generally Accepted Accounting Practice** In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No restatements were required. ## **1.3 Company status** The charitable company is a company limited by guarantee. The member of the company is the Trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. ## **1.4 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **1.5 Income** All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. ## **1.6 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of Page | 15 ## **East Kent Education Business Partnership Limited trading as EBP Kent** economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Charitable activities are costs incurred on the charitable company's operations, including support costs and costs relating to the governance of the charitable company apportioned to charitable activities. ## **Notes to the financial statements for the year ended 31 December 2020** ## **1. Accounting policies (continued)** ## **1.7 Going concern** Notwithstanding the limited restricted funds at the balance sheet date of £125 the accounts have been prepared on a going concern basis. The Trustee considers that the future financial resources available to the company are adequate to meet it's operational needs for the foreseeable future. ## **1.8 Tangible fixed assets and depreciation** All expenditure on computer equipment in excess of £500 will be capitalised. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Computer equipment 33% straight line ## **1.9 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by the Bank. ## **1.10 Operating leases** Rentals under operating leases are charged to the Statement of financial activities incorporating income and expenditure account on a straight line basis over the lease term. ## **1.11 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.12 Cash at Bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.13 Liabilities and provisions** Page | 16 ## **East Kent Education Business Partnership Limited trading as EBP Kent** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. Page | 17 **East Kent Education Business Partnership Limited trading as EBP Kent** ## **Notes to the financial statements for the year ended 31 December 2020** ## **1. Accounting policies (continued)** ## **1.14 Financial instruments** The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **1.15 Pensions** The charitable company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charitable company to the fund in respect of the year. ## **2. Income from charitable activities** |Business of Enterprise
Schools Lap Top Provision
Employability and Enterprise
Employment preparation
Workshops/Misc Income|**Restricte Unrestrict**
**funds**
**2020**
£
funds
2020
£
5,500
3,102
97,992
71,257
5,500
172,35
~~1~~|**Tota**
funds
2020
£
5,500
3,102
97,992.
71,257
177,85
~~1~~|Total
funds
2019
£
9,800
18,55
173,78
27,694| |---|---|---|---| ||||229,83
~~8~~| In 2020, of the total income from charitable activities, £177,851 was to unrestricted funds and £0 was to restricted funds. In addition total funds at £84,815 was received as part of the COVID Job Retention Scheme. ## **3. Investment income** |**Investment income**||||| |---|---|---|---|---| ||**Restricte **|**Unrestrict**|**Tota**|Total| ||funds|funds|funds|funds| ||2020|2020|2020|2019| ||£|£|£|£| |Investmentincome||7|7|14| In 2020, of the total investment income, all was to unrestricted funds. Page | 18 **East Kent Education Business Partnership Limited trading as EBP Kent** ## **Notes to the financial statements for the year ended 31 December 2020** 4. Analysis of expenditure on charitable activities |Business of Enterprise
Employability and Enterprise
Employmentpreparation
Primary|Restricte
Unrestricte
funds
funds
202
202
£
£
3,102
98,563
68,916
170,58
~~1~~|Total
Total
fund
fund
202
201
£
£
9,068
3,102
18,13
98,563
172,29
68,916
27,20
~~6~~
170,581
226,70
~~6~~| |---|---|---| In 2020, of the total expenditure, £170,581 was expenditure from unrestricted funds and £0 from restricted funds. In addition £84,815 was COVID JRS funds expended on furloughed staff. ## **5 Net incoming resources/(resources expended)** This is stated after charging: |Depreciation of tangible fxed assets
-
Owned by the charity|2020
2019| |---|---| ||770
0| During the period, the Trustees did not receive any remuneration (2019- £NIL). During the period, the Trustee did not receive any benefits in kind (2019- £NIL). During the period, the Trustee did not receive any reimbursement of expenses (2019 -£NIL). Page | 19 ## **Notes to the financial statements for the year ended 31 December 2020** ## **6. Staf costs** Staff costs were as follows: |Wages and salaries
Social security costs
Pension|2020
2019
£
£
166,522
166,093
12,416
10,753
4,982
4,530| |---|---| ||183,920
181,376| The average number of persons employed by the charitable company during the year was as follows: Direct charitable work |2020
No.
9|2019
No.| |---|---| ||9| No employee received remuneration amounting to more than £35,000 in either year. ## **7. Tangible fixed assets** |**Cost**
At 1 January 2020 and 31 December 2020
**Depreciation**
At 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019|Ofce
Equipment
£| |---|---| ||2,309
770
1,539| ||0| ## **8. Debtors** |Trade debtors
Other debtors|2020
2019
£
£
14,579
15,171
483
8,536| |---|---| ||15,062
23,707| Notes to the financial statements for the year ended 31 December 2019 9. Creditors: Amounts falling due within one year |Trade creditors
Other taxation and social security
Pension contributions payable
Accruals and deferred income|2020
2019
£
£
702
2,494
3,403
10,684
3,731
5,294
5,849
3,750| |---|---| ||13,685
22,222| ## 10. Statement of funds |Covid JRS Grant
Investment Income
General funds
Restricted funds
Total of funds|Brought
Forward
Income
Expenditure
Carried
Forward
£
£
£
£
84,815
84,815
7
3,271
172,351
170,581
5,048| |---|---| ||5,500
5,500| ||3,271
262,673
255,396
10,548| ## 11. Pension commitments "The charitable company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the charitable company to the fund and amounted to £4,983 (2019- £4,530). Contributions totaling £3,731 (2019- £5,294) were payable to the fund at the balance sheet date and are included in creditors. ## **12. Operating lease commitments** At 31 December 2020 the total of the Charity's future minimum lease payments under non-cancellable operating leases was: |Amounts payable:
Within 1 year|2020
2019
£
£| |---|---| ||0
0| ## **13. Related party transactions** There were no transactions with related parties during the year (2019: Nil).