**Registered number: 04117784 Charity number: 1086947**
# **SKILLS AND EDUCATION GROUP AWARDS**
**(A company limited by guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2023**
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 9|
|**Independent auditors' report on the financial statements**|10 - 14|
|**Statement of financial activities**|15|
|**Balance sheet**|16 - 17|
|**Statement of cash flows**|18|
|**Notes to the financial statements**|19 - 31|
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023**
|**Trustees**|G Clipson MBE, Chair|
|---|---|
||M Holden|
||S James|
||D Mcvean (resigned 23 June 2023)|
||D Saxelby|
||J Scorer|
||S Segal|
||E Temple|
||A Traynor|
||Skills and Education Group|
|**Company registered**||
|**number**|04117784|
|**Charity registered**||
|**number**|1086947|
|**Registered office**|Robins Wood House|
||Robins Wood Road|
||Nottingham|
||Nottinghamshire|
||NG8 3NH|
|**Company secretary**|A De'Ath (appointed 7 December 2023)|
||S N Feneley-Lamb (resigned 7 December 2023)|
|**Key management**|Chief Executive: P A Eeles|
||Deputy Chief Executive: S A Forbes|
|**Independent auditors**|Streets Audit LLP|
||Tower House|
||Lucy Tower Street|
||Lincoln|
||LN1 1XW|
|**Bankers**|Natwest|
||536 Valley Road|
||Nottingham|
||NG5 1FL|
Page 1
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023**
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 September 2022 to 31 August 2023. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
The Charity provides a range of services in furtherance of its charitable objective to support “ _the advancement of skills and education to improve the lives of individuals_ ”. These services include:
- awarding and assessment services and qualifications regulated by CCEA (Northern Ireland), Ofqual, Qualification Wales and SQA (Scotland) on a national and international level
- awarding and assessment services for non-regulated skills and education programmes on a national and international level
- delivering end-point-assessment (EPA) services approved and regulated by the Institute for Apprenticeships and Technical Education (IfATE) and Ofqual
- local, regional, and national stakeholder engagement to inform and support policy developments and implementation
- championing social mobility, by providing opportunities for individuals to upskill through access to industry endorsed qualifications and assessments.
The Charity’s strategic aims adopted in support of these objectives are identified by an annual strategic planning process culminating in “Ambition 2025” setting out the strategy and direction of the charity to August 2025. This is supported by an annual process which sets out clear strategic targets for in-year achievement. Plans are agreed and monitored by the Board of Trustees.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance: 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **a. Main achievements of the Charity**
The Charity is a leading national awarding organisation with a long-established reputation for providing high quality support and services to the education sector regulated by CCEA, Ofqual and Qualifications Wales. Furthermore, the Charity offers end-point assessment services regulated by the Institute for Apprenticeships and Technical Education (IfATE) and Ofqual.
The Charity’s portfolio continues to offer 259 qualifications across 18 sectors. New sectors for 2022/23 include computing and software, construction and ESOL. It continues to develop and expand upon its current portfolio with new qualifications added in animal care, youth work and more. New qualifications are developed in partnership with employers to ensure they meet industry needs and align to new government reforms.
Page 2
## **SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Achievements and performance (continued)**
The Charity also continues to be market leaders in offering MOT qualifications and training. During 2022/23, 32,989 MOT Testers sat their annual assessment with the Charity, in addition to this, it helped 3,040 new and existing MOT Testers to progress and start their careers in this industry.
2022/23 was also a year of celebration for the Charity, as it gained recognition for developing its Level 1 Award in Workers’ Rights and Labour Exploitation. The qualification won Collaboration of the Year Award for its work in developing the qualification with the Gangmasters and Labour Abuse Authority, Boston College, and the University of Nottingham’s Rights Lab. The qualification continues to have significant impact and is helping to prevent 1,000’s of individuals from being victims of labour exploitation on an annual basis.
In numbers, success for the Charity looked like:
- 25,991 registrations across its regulated portfolio
- 16,535 qualifications certificated
- 13,302 were male learners
- 10,515 were female learners
- 2,174 learners did not associate to a gender
- The youngest learner was 12
- The eldest learner was 101.
Aside from qualification delivery, the Charity continues to grow its end-point assessment portfolio and now offers 20 standards. It continues to specialise in a range of sectors, and has developed new resources for learners, employers, and training providers. The Charity is passionate about apprenticeships and aims to do the very best to ensure apprentices have the very best start to their careers. During 2022/23, it delivered the following:
- A new end-point assessment system for its providers
- Developed new, collaborative partnerships with other organisations
- Won new business
- Contributed to the Federation of Awarding Bodies End-Point Assessment Organisation’s Guide to Good Practice
- Created 9 new standards
- Supported 113 apprentices through Gateway.
Wrapping up a busy 2022/23, the Charity also went global. It gained recognition through the Knowledge and Human Development Agency (KHDA) to deliver qualifications and assessments in Dubai and the wider UAE; and gained recognition with the Tertiary and Vocational Education Commission in Sri Lanka.
The Charity, in association with UK Awards, forged new partnerships with education providers across Dubai, India, Sri Lanka, and Turkey accrediting high quality assessments and Ofqual regulated qualifications allowing the Charity to reach thousands more learners, and strengthening the bonds between the UK and overseas providers in the pursuit of advancing social mobility.
## **b. Fundraising activities and income generation**
The charity does not carry out any significant fundraising activities.
Page 3
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Financial review**
## **a. Going concern**
Trustees worked closely with the Executive Leadership Team to develop strategic and operational plans that support the sustained growth of the Charity. Such plans included the development of new products and services, and the identification of resources needed to support current and future planned developments.
Based on this work, Trustees have a continuing reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Consequently, the Trustees continue to adopt the going concern basis of accounts in preparing the financial statements. Further details on the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
It is the policy of the Charity that unrestricted funds which have not been designated for a specific purpose should be maintained at a level necessary to provide a contingency to support day-to-day business activities in the event of reduced income and provide a strategic fund to develop and grow the Charity. Trustees also wish to build reserves to fulfil a Group-wide objective to support social mobility.
In line with best practice guidance, Trustees review the reserves policy each year and confirm that this level of reserve has been maintained.
It is the Charity’s policy to work to building and maintaining reserves to:
- support the short, medium and long-term objectives of the Charity
- re-invest any surplus funds to support, develop and expand the delivery of high-quality services
- re-invest any surplus funds to support activities that enable social mobility and provide a public benefit
- maintain sufficient reserves that are readily realisable to sustain operations as and when required
- cover deficits, when arising, from general reserves
- mitigate the risks of unforeseen challenges, emergencies or other unexpected requirement for funds
- maintain designated funds that recognise funds that are to be used for a specific purpose
- cover statutory obligations to close and wind-up the Charity’s affairs in an orderly manner, when required.
Unrestricted funds at the end of the year were £1,546,911 (2022: £1,696,579) and free reserves which exclude fixed assets at the end of the year are £1,408,327 (2022 £1,614,293) which is in line with the reserves policy above.
In addition to this reserves policy, the trustees have set a reserves policy at group level covering all entities of the Skills and Education Group, with details on this policy available in the Skills and Education Group accounts. This is considered appropriate given the shared nature of operations and charitable activities, and charitable aims and objectives, across the Skills and Education Group.
## **c. Financial performance and position**
The Charity remains in a financially healthy position and continues to meet its agreed financial targets. The Charity achieved a deficit to funds of £149,668 in the year (2022: surplus of £26,005).
Total income was £1,996,764 (2022: £1,900,760). Expenditure was £2,146,432 (2022: £1,874,755). Salaries and associated costs remain the primary cost to the Charity.
Total net assets at the year-end are £1,546,911 (2021: £1,696,579). All funds are unrestricted.
Page 4
## **SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **d. Principal risks and uncertainties**
Trustees remain aware of the educational and political environment in which the Charity operates and recognise the challenges facing providers in the further education sector.
Key risks to the Charity are:
- A fast-changing political environment that has an impact on education policy and funding to support this
- • Regulatory changes and a failure to respond to these in the way that is needed to ensure continuing compliance
- Failure to appropriately manage and store personal data leading to a data breach under the General Data Protections Regulations.
Trustees are satisfied that the systems and review processes are in place to mitigate and manage the risks. Strategic risks are managed and monitored through a risk register. The risk register is reviewed and updated by the Senior Leadership Team monthly and further reviewed by Trustees quarterly.
The risk register is rated on a weighted likelihood and impact scale based on Charity Commission Guidance.
## **Structure, governance and management**
## **a. Constitution**
The organisation is a charitable company limited by guarantee, incorporated on 30 November 2000.
The company was set-up under a Memorandum of Association which established the objectives and powers of the charitable company and is governed under its Articles of Association. The Articles were most recently revised in October 2018 and reflect current structural and governance requirements.
Skills and Education Group Awards is a controlled charity within the wider Skills and Education Group which includes:
- Skills and Education Group, the parent charitable company, limited by guarantee Company Number 02640936 Charity Number 1004087
- Skills and Education Group Access (formerly Open College Network Yorkshire and Humber Region) a charitable company limited by guarantee: Company Number 03773914 Charity Number 1088839
- BIIAB Qualifications Limited, a company limited by shares Company Number 10054831
- Quality Licence Scheme Limited, a private company limited by guarantee without share capital Company Number 10051052
Page 5
## **SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Structure, governance and management (continued)**
## **b. Methods of appointment or election of Trustees**
There was one change to the Board during the year:
- D Mcvean resigned on the 23 June 2023.
Trustees are recruited in accordance with the Articles of Association (revised, adopted 16 October 2018) under Article 27 which covers appointments.
All newly appointed Trustees complete a skills audit to ensure a balance of skills, knowledge, and experiences to support the development of the Charity. Trustee recruitment reflects ongoing and future skills and knowledge needs.
## **c. Organisational structure and decision-making policies**
The Board of Trustees meets four times a year. Trustees:
- support the Chief Executive and Senior Leadership Team (SLT) to determine the strategic direction of the Charity and review annual strategic plans, business plans and Key Performance Indicators.
- approve annual budgets, receive and review quarterly management accounts to monitor and challenge performance
- review and monitor the strategic risk register to ensure that the appropriate controls are in place to mitigate risks
- ensure that appropriate governance review mechanisms are in place and that performance is reviewed and that Charity Commission guidance is followed.
The Chairs and Chief Executive meets four times a year, which enables the Chairs to have a collective and strategic oversight of the Charity. The Chairs of the charities Skills and Education Group, Skills and Education Group Access are members of this Group.
The Group meets ahead of quarterly Board of Trustees meetings and provides a structure for the Chairs to review and monitor:
- the performance of the Chief Executive and the Senior Leadership Team
- financial performance for the Charity and take a holistic view of all entities within the Group structure
- performance against strategic and business plans the Charity and all other entities
- identify opportunities for growth and the approach that may be taken to progress these
- determine longer-term strategic direction to help shape plans and proposals for all Trustees to consider.
The Charity Chair is a Trustee of the Skills and Education Group, an appointment made under Article 21 of the Skills and Education Group Articles.
Day-to-day management of the Charity is delegated to the Chief Executive, Paul Eeles, who is supported by Scott Forbes, as Deputy Chief Executive.
The Executive is supported by a Senior Leadership Team (SLT), who support the Chief Executive and Deputy Chief Executive with operational and strategic matters. The Senior Leadership Team comprises off:
- Helen Gibson, Interim Director of Product Strategy
- Elizabeth Humphrey-Talmey, Interim Director of Finance
- Kaye Jackson, Director of External Affairs
- Jennie Lawson, Director of Access to HE
Page 6
## **SKILLS AND EDUCATION GROUP AWARDS**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Structure, governance and management (continued)**
- Karl Stringer, Director of Quality and Compliance
The Senior Leadership Team meets on a weekly basis, with an extended monthly meeting which focuses on overall Group strategy, finance, and HR matters.
A Senior Management Team (SMT) in addition to SLT meets monthly focusing on operational and departmental matters across the Group. The SMT is chaired by the Deputy Chief Executive and comprises of all SLT members, and Heads of services and functions from across the Skills and Education Group.
In addition to SMT, a monthly Scrutiny Group is held. This meeting is attended by the Executive and SLT. The meeting is chaired by the Deputy Chief Executive and is used to formerly review regulatory needs across all awarding functions within the Group.
The Deputy Chief Executive acts as the Data Protection Officer for the Charity and is supported by members of the Senior Leadership Team.
## **d. Policies adopted for the induction and training of Trustees**
Newly appointed Trustees receive an induction under the direction of the Chief Executive. This normally includes an introductory visit to Robins Wood House where there is an opportunity to meet with key staff to gain a detailed understanding of the Charity and the subsidiaries within this.
Trustees also complete a declaration of interest record and skills audit on appointment. Declarations are noted on the Register which is reviewed and updated on an annual basis. Trustees are also asked to state any interests at the start of each Board meeting.
## **e. Pay policy for key management personnel**
Remuneration for the Chief Executive is determined by the Chairs of the Skills and Education Group and subsidiaries. The Chief Executive determines the remuneration for all staff, including the Deputy Chief Executive and Senior Leadership Team.
All annual cost of living pay awards for staff are subject to recommendation to and approval of the Board of Trustees.
## **f. Financial risk management**
The Trustees have assessed the major risks to which the Charity are exposed, those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 7
## **SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Plans for future periods**
Trustees continue to support “Ambition 2025”, challenging assumptions and using their skills and knowledge to define objectives and associated targets. Ambition 2025 is a strategic plan that articulates ten key priorities that will take the Charity forward. This redefined the Charity’s purpose, mission, and vision to reflect the expanded Group and the services that this now provides:
## **Purpose:**
1. To support the development and delivery of further education and skills providers and their staff
2. Champion and support the social impact of the further education and skills sector
3. To develop and award industry relevant, high-quality qualifications, accreditations and end-point assessments
4. To be a national leader in Access to HE, awarding high quality Access to HE Diplomas that enable learners to progress into further study and/or employment.
## **Mission:**
The advancement of skills and education to improve the lives of individuals.
## **Vision:**
To provide high-quality services centred on collaboration, responsiveness, and diversity, supporting our members and customers to positively impact on the learners, communities, and sectors they serve to achieve their full potential, no matter what their age, background or ability.
The plans set annual key performance indicators in the context of a longer-term objectives:
- To see a growth in membership
- Increase the number of people participating in professional development events
- An increase in the uptake of grants to learners awarded through the Group’s Foundation
- Raise awareness of the charities work, through its Foundation, in widening participation and social mobility
- Grow the number of learners benefiting from a certificate form at least one of the charity’s awarding brands
- Grow the collective awarding share
- Ensure that a surplus is generated
- Explore international opportunities
- Ensure good staff engagement and satisfaction.
2022/23 has seen further progress towards achieving Ambition 2025. 2023/24 will build on these successes, and with the support of Trustees the Executive and Senior Leadership Team will work towards creating a new three-year strategy to 2027.
## **Members' liability**
The Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up.
Page 8
## **SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Charity 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 Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Approved by order of the members of the board of Trustees on 2 May 2024 and signed on their behalf by:
................................................ **G Clipson MBE** (Chair of Trustees)
Page 9
## **SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP AWARDS**
## **Opinion**
We have audited the financial statements of Skills and Education Group Awards (the 'charity') for the year ended 31 August 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
## In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 10
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP AWARDS (CONTINUED)**
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
Page 11
## **SKILLS AND EDUCATION GROUP AWARDS**
**(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP AWARDS (CONTINUED)**
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 12
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP AWARDS (CONTINUED)**
## **Auditors' responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company and sector in which it operates;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006; Charities Act 2011, taxation legislation, data protection, anti-bribery and employment legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- • reading the minutes of meetings of those charged with governance; and
- enquiring of management as to actual and potential litigation and claims.
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## **SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP AWARDS (CONTINUED)**
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Robert Anderson BSc FCA (senior statutory auditor)**
for and on behalf of **Streets Audit LLP** Tower House Lucy Tower Street Lincoln LN1 1XW
Date: **28 May 2024**
Page 14
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023**
|**Note**
**Income from:**
Charitable activities
3
Investments
4
Other income
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**1,982,737**
**3,973**
**10,054**
**1,996,764**
**2,146,432**
**2,146,432**
**(149,668)**
**1,696,579**
**(149,668)**
**1,546,911**|**Total**
**funds**
**2023**
**£**
**1,982,737**
**3,973**
**10,054**
**1,996,764**
**2,146,432**
**2,146,432**
**(149,668)**
**1,696,579**
**(149,668)**
**1,546,911**|_Total_
_funds_
_2022_
_£_
_1,888,787_
_473_
_11,500_
_1,900,760_
_1,874,755_
_1,874,755_
_26,005_
_1,670,574_
_26,005_
_1,696,579_|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 19 to 31 form part of these financial statements.
Page 15
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee) REGISTERED NUMBER: 04117784**
## **BALANCE SHEET AS AT 31 AUGUST 2023**
|**Note**
**Fixed assets**
Intangible assets
10
Tangible assets
11
**Current assets**
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**100,282**
**946,793**
**456,400**
**1,503,475**
**(95,148)**|**2023**
**£**
**127,316**
**11,268**
**138,584**
**1,408,327**
**1,546,911**
**1,546,911**
**-**
**1,546,911**
**1,546,911**|_27,078_
_780,070_
_863,408_
_1,670,556_
_(56,263)_|_2022_
_£_
_70,368_
_11,918_|
|---|---|---|---|---|
|||||_82,286_
_1,614,293_|
|||||_1,696,579_|
|||||_1,696,579_|
|||||_-_
_1,696,579_|
|||||_1,696,579_|
Page 16
## **SKILLS AND EDUCATION GROUP AWARDS**
**(A company limited by guarantee) REGISTERED NUMBER: 04117784**
**BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2023**
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorized for issue by the Trustees on 2 May 2024 and signed on their behalf by:
................................................
**G Clipson MBE** (Chair of Trustees)
The notes on pages 19 to 31 form part of these financial statements.
Page 17
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of intangible assets
**Net cash used in investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 19 to 31 form part of these financial statements|**2023**
**£**
**(350,516)**
**3,973**
**(60,465)**
**(56,492)**
**-**
**(407,008)**
**863,408**
**456,400**|_2022_
_£_
_(578,124)_
_473_
_(14,272)_
**(13,799)**
**-**
**(591,923)**
_1,455,331_
_863,408_|
|---|---|---|
Page 18
## **SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **1. General information**
The Charity is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. It's aim is the advancement of the education and training of young people and adults primarily through the provision of nationally recognised qualifications.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Skills and Education Group Awards 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.
These financial statements are prepared in sterling, which is the functional currency of the entity.
## **2.2 Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **2.4 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 economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 19
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **2. Accounting policies (continued)**
## **2.5 Research and development**
Development costs are capitalised within intangible assets where they can be identified with a specific product or project anticipated to produce future benefits, and are amortised on the straight line basis over the anticipated life of the benefits arising from the completed product or project.
Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to the statement of financial activities.
## **2.6 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.7 Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2.8 Intangible assets and amortisation**
Intangible assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following bases:
Assets under development - % Not depreciated Website - 25 % straight line Software - 20 % straight line
Page 20
**SKILLS AND EDUCATION GROUP AWARDS (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **2. Accounting policies (continued)**
## **2.9 Tangible fixed assets and depreciation**
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|Computer equipment|-|33% straight line|
|---|---|---|
|Marketing equipment|-|17% straight line|
## **2.10 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
## **2.11 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.
## **2.12 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.
## **2.13 Liabilities and provisions**
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 Charity 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.
## **2.14 Financial instruments**
The Charity 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.
Page 21
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **2. Accounting policies (continued)**
## **2.15 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 Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from charitable activities**
|Learner recognition
_Total 2022_
**Investment income**
Interest receivable
_Total 2022_|**Unrestricted**
**funds**
**2023**
**£**
1,982,737
_1,888,787_
**Unrestricted**
**funds**
**2023**
**£**
3,973
_473_|**Total**
**funds**
**2023**
**£**
**1,982,737**
_1,888,787_
**Total**
**funds**
**2023**
**£**
**3,973**
_473_|_Total_
_funds_
_2022_
_£_
_1,888,787_
_Total_
_funds_
_2022_
_£_
_473_|
|---|---|---|---|
## **4. Investment income**
Page 22
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **5. Other incoming resources**
|Admin fees and other income
_Total 2022_|**Unrestricted**
**funds**
**2023**
**£**
10,054
_11,500_|**Total**
**funds**
**2023**
**£**
**10,054**
_11,500_|_Total_
_funds_
_2022_
_£_
_11,500_|
|---|---|---|---|
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Learner recognition
_Total 2022_
**Analysis of expenditure by activities**
Learner recognition
_Total 2022_|**Activities**
**undertaken**
**directly**
**2023**
**£**
411,477
_230,491_|**Unrestricted**
**funds**
**2023**
**£**
2,146,432
_1,874,755_
**Support**
**costs**
**2023**
**£**
1,734,955
_1,644,264_|**Total**
**2023**
**£**
**2,146,432**
_1,874,755_
**Total**
**funds**
**2023**
**£**
**2,146,432**
_1,874,755_|_Total_
_2022_
_£_
_1,874,755_|
|---|---|---|---|---|
|||||_Total_
_funds_
_2022_
_£_
_1,874,755_|
||||||
## **7. Analysis of expenditure by activities**
Page 23
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Moderator and examiner costs
Centre costs
Certificates
Foundation activities
**Total 2023**
_Total 2022_|**Learner**
**recognition**
**2023**
**£**
-
244,675
9,653
64,245
92,904
411,477
_230,491_|**Total**
**funds**
**2023**
**£**
**-**
**244,675**
**9,653**
**64,245**
**92,904**
**411,477**
_230,491_|_Total_
_funds_
_2022_
_£_
_321_
_206,415_
_14,247_
_9,508_
_-_|
|---|---|---|---|
||||_230,491_|
|||||
Page 24
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Depreciation and amortisation
Bad debt
Other staff costs
Qualification development
Administration
Communications and marketing
Donations
Premises
ICT costs
Professional fees
Bank charges
Irrecoverable VAT
Governance costs
Central recharges
_Total 2022_|**Learner**
**recognition**
**2023**
**£**
41,778
-
123,032
28,627
21,175
32,615
15,769
34,413
109,223
33,083
2,670
61,696
5,212
1,225,662
1,734,955
_1,644,264_|**Total**
**funds**
**2023**
**£**
**41,778**
**-**
**123,032**
**28,627**
**21,175**
**32,615**
**15,769**
**34,413**
**109,223**
**33,083**
**2,670**
**61,696**
**5,212**
**1,225,662**
**1,734,955**
_1,644,264_|_Total_
_funds_
_2022_
_£_
_40,444_
_26,521_
_432_
_34,619_
_26,081_
_(6,600)_
_-_
_3_
_90,398_
_19,357_
_1,573_
_40,343_
_5,715_
_1,365,378_
_1,644,264_|
|---|---|---|---|
## **8. Auditors' remuneration**
The auditors' remuneration amounts to an auditor fee of £5,000 ( _2022_ - _£5,000_ ).
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 August 2023, expenses totalling _£_ 200 were reimbursed or paid directly to 3 Trustees _(2022 - £362 to_ 6 _Trustees)_ , in relation to travel and accomodation.
Page 25
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **10. Intangible assets**
|**Cost**
At 1 September 2022
Additions
At 31 August 2023
**Amortisation**
At 1 September 2022
Charge for the year
At 31 August 2023
**Net book value**
At 31 August 2023
_At 31 August 2022_|**Developm't**
**£**
**43,136**
**54,107**
**97,243**
**-**
**-**
**-**
**97,243**
_43,136_|**Bespoke**
**software**
**£**
**23,025**
**-**
**23,025**
**4,284**
**4,605**
**8,889**
**14,136**
_18,741_|**Website**
**£**
**113,939**
**6,358**
**120,297**
**105,448**
**(1,088)**
**104,360**
**15,937**
_8,491_|**Total**
**£**
**180,100**
**60,465**|
|---|---|---|---|---|
|||||**240,565**|
|||||**109,732**
**3,517**|
|||||**113,249**
**127,316**|
|||||_70,368_|
Page 26
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **11. Tangible fixed assets**
|**Cost**
At 1 September 2022
At 31 August 2023
**Depreciation**
At 1 September 2022
Charge for the year
At 31 August 2023
**Net book value**
At 31 August 2023
_At 31 August 2022_
**12.**
**Stocks**
Finished goods and goods for resale
**13.**
**Debtors**
**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Marketing**
**equipment**
**£**
**4,644**
**4,644**
**4,644**
**-**
**4,644**
**-**
_-_||**Computer**
**equipment**
**£**
**29,833**
**29,833**
**17,915**
**650**
**18,565**
**11,268**
_11,918_
**2023**
**£**
**100,282**
**2023**
**£**
**168,320**
**701,006**
**640**
**76,827**
**946,793**||**Total**
**£**
**34,477**
**34,477**
**22,559**
**650**
**23,209**
**11,268**
_11,918_
_2022_
_£_
_27,078_
_2022_
_£_
_265,968_
_461,162_
_1,225_
_51,715_|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
||||||_780,070_|
Page 27
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **14. Creditors: Amounts falling due within one year**
|Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income|**2023**
**£**
**24,035**
**51,063**
**11,450**
**294**
**8,306**
**95,148**|_2022_
_£_
_26,779_
_16,177_
_3,362_
_4,489_
_5,456_|
|---|---|---|
|||_56,263_|
Deferred income represents monies received in advance for learner registrations on courses.
## **15. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds|**Balance at 1**
**September**
**2022**
**£**
**1,696,579**
_Balance at_
_1 September_
_2021_
_£_
_1,670,574_|**Income **
**£**
**1,996,764**
_Income_
_£_
_1,900,760_|**Expenditure**
**£**
**(2,146,432)**
_Expenditure_
_£_
_(1,874,755)_|**Balance at**
**31 August**
**2023**
**£**
**1,546,911**
_Balance at_
_31 August_
_2022_
_£_
_1,696,579_|
|---|---|---|---|---|
Page 28
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **16. Summary of funds**
## **Summary of funds - current year**
|General funds
**Summary of funds - prior year**
General funds|**Balance at 1**
**September**
**2022**
**£**
**1,696,579**
_Balance at_
_1 September_
_2021_
_£_
_1,670,574_|**Income**
**£**
**1,996,764**
_Income_
_£_
_1,900,760_|**Expenditure**
**£**
**(2,146,432)**
_Expenditure_
_£_
_(1,874,755)_|**Balance at**
**31 August**
**2023**
**£**
**1,546,911**|
|---|---|---|---|---|
|||||_Balance at_
_31 August_
_2022_
_£_
_1,696,579_|
## **17. Analysis of net assets between funds Analysis of net assets between funds - current year**
|Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2023**
**£**
11,268
127,316
1,503,475
(95,148)
1,546,911|**Total**
**funds**
**2023**
**£**
**11,268**
**127,316**
**1,503,475**
**(95,148)**
**1,546,911**|
|---|---|---|
Page 29
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **17. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
**Ttl**|_Unrestricted_
_funds_
_2022_
_£_
_11,918_
_70,368_
_1,670,556_
_(56,263)_
_1,696,579_|_Total_
_funds_
_2022_
_£_
_11,918_
_70,368_
_1,670,556_
_(56,263)_
_1,696,579_|
|---|---|---|
## **Total**
## **18. Reconciliation of net movement in funds to net cash flow from operating activities**
## **19.**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Amortisation charges
Decrease/(increase) in stocks
Increase in debtors
Increase/(decrease) in creditors
Bank interest
**Net cash used in operating activities**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**|**2023**
**£**
**(149,668)**
**650**
**3,517**
**(73,204)**
**(166,723)**
**38,885**
**(3,973)**
**(350,516)**
**2023**
**£**
**456,400**
**456,400**|_2022_
_£_
_26,005_
_3,250_
_37,194_
_1,777_
_(546,874)_
_(99,003)_
_(473)_
_(578,124)_
_2022_
_£_
_863,408_
_863,408_|
|---|---|---|
Page 30
## **SKILLS AND EDUCATION GROUP AWARDS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **20. Analysis of changes in net debt**
|Cash at bank and in hand|**At 1**
**September**
**2022**
**£**
**863,408**
**863,408**|**Cash flows**
**At 31**
**August 2023**
**£**
**(407,008)**
**£**
**456,400**
**(407,008)**
**456,400**|
|---|---|---|
## **21. Related party transactions**
During the year the charity was recharged wages and other costs from its parent, totalling £1,225,662 (2022: £1,1365,378), and made payments to its parent totalling £462,483 (2022: £1,300,42). At the year end an amount of £695,888 was owed by Skills and Education Group (2022: 429,188) .
Skills and Education Group Access, a subsidiary of the parent company Skills and Education Group, recharged costs of 9,523 (2022: £8,156) to Skills and Education Awards. At the year end a balance of £2,026 was owed to Skills and Education Group Access (2022: £8,156).
BIIAB Qualifications Limited (BIIAB), a subsidiary of the parent company Skills and Education Group, recharged costs of £100,265 (2022: £21,692) to the charity, and the charity recharged costs of £73,409 to the company. At the year end a balance of £5,118 (2022: £31,974) was owed by BIIAB to the charity.
Quality Licence Scheme Limited (QLS), a subsidiary of the parent company Skills and Education Group, recharged costs of £43,325 to the charity, and the charity recharged costs of £2,351 to the company. At the year end a balance of £48,995 (2022: £8,021) was owed by QLS to the charity.
D McVean is also a Director of Moulton College. During the year income of £211 (2022: £150l) was received from the College for the provision of charitable services. There are no amounts outstanding at the year end (2022: £ Nil).
S Segal is also a Director of Association of Employment and Learning Providers Ltd. During the year purchases of £12,000 (2022: £Nil) were made for the provision of charitable services. There are no amounts outstanding at the year end.
## **22. Controlling party**
The charity is managed and controlled by its immediate and ultimate parent Skills and Education Group, which is a registered charity (number 1004087) and a company limited by guarantee incorporated in England and Wales (company number 02640936).
The most senior parent entity producing publicly available consolidated financial statements is Skills and Education Group. These financial statements are available upon request from Skills and Education Group, Robins Wood House, Robins Wood Road, Aspley, Nottingham, Nottinghamshire, NG8 3NH.
Page 31