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2021-08-31-accounts

Registered number: 03773914 Charity number: 1088839

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 10
Independent auditor's report on the financial statements 11 - 14
Statement of financial activities 15
Balance sheet 16 - 17
Notes to the financial statements 18 - 36

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021

Trustees J E Austin(resigned 12 February2021)
G M Alton OBE(resigned 6 April 2021)
P M Bloor
Y Y Mellor,Chair(from 14 October 2020)
Skills and Education GroupLimited
A G Stott(resigned 14 October 2020)
A C Birch(appointed 26 January2021)
R Webber-Jones
Company registered
number
03773914
Charity registered number
1088839
Registered office
Robins Wood House
Robins Wood Road
Nottingham
Nottinghamshire
NG8 3NH
Company secretary
S N Feneley-Lamb
Chief executive officer
P A Eeles
Independent auditor
BHP LLP
2 Rutland Park
Sheffield
S10 2PD
Bankers
Natwest
536 Valley Road
Nottingham
NG5 1FL
Solicitors
Browne Jacobson LLP
Mowbray House
Castle Meadow Road
Nottingham
NG2 1BJ

Page 1

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

The trustees (who are also Directors for the purposes of company law) present their annual report together with the audited financial statements of the Charity for the year 1 September 2020 to 31 August 2021. 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) (issued in October 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 the education, learning and training of adults”. The Charity has a strong social purpose, providing a high-quality and accessible awarding service to support the needs of learners, Centres (education providers), businesses and communities.

Skills and Education Group Access is an Access Validating Agency (AVA) and provides responsive and accessible Access to Higher Education Diplomas (Access to HE) that recognise achievement, particularly for those that have not benefited from previous educational experiences. Access to HE Diplomas are designed to maximise a student’s chance of securing their place in higher education. Developed in partnerships with higher education institutions and further education, the Diplomas provide student’s a second chance; a path to the skills needed to go on to study for a degree at university.

Qualifications and services are aligned with the needs of communities, and groups within these, that may not have benefited from traditional or formal educational opportunities, including:

The strategic and business objectives of the Charity support those of the wider Group-structure but maintain a focus on its own objectives. Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. The Charity’s objectives, supporting growth and long-term sustainability, are identified as part of an annual strategic planning process that Trustees and staff contribute to.

The resulting rolling five-year strategic plan is then agreed and monitored by Trustees. Trustees have due regard to guidance issued by the Charities Commission on public benefit in deciding what activities the Charity should undertake.

Page 2

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

Objectives and activities (continued)

Trustees agree Key Performance Indicators (KPIs) with the Executive Team, monitoring and measuring performance against these:

Achievements and performance delivering public benefit

a. Main achievements of the Charity

The 2020/21 year saw a strong recovery following the uncertainties of the previous year which was more significantly affected by Covid-19. The recovery demonstrates the resilience of the Charity in meeting and adapting to a changing regulatory, social and economic environment. It also demonstrates the resilience of the Access to HE providers that the Charity works with and the support that is given by both the Charity and providers to learners.

The Charity increased its numbers of providers during the year; nineteen in 2020/21 compared with sixteen in 2019/20. Three new Access to HE Diplomas were also developed. These were available for registration at the start of 2021/22. There were 2,497 registrations on diploma programmes in 2020/21 (compared with 2,211 in 2019/20). Of this, 1,431 full diplomas were awarded with a further 484 being awarded credits.

Development work was carried out during the year on a new awarding management platform prior to a go-live date of September 2021. The new platform will be used for awarding management across all aspects of the Charity and by other subsidiaries in the Group. It provides comprehensive regulatory compliance and an improved customer interface. The platform also has defined governance and risk management modules that will support the work of the Trustees and the delivery of their responsibilities. The platform will be rolled out across group-wide awarding functions by September 2022.

All staff had returned to work from furlough, on at least a flexible basis, by 1 September 2020 and on a full-time basis by October 2020.

Being part of a group structure, the Charity benefits from cross-group services that are delivered through the Member Services and Communications and Operations Directorates.

Membership and Communications

The Membership and Communications team reported an increase in engagement with Centres during the year, reflecting the recovery from the impact of Covid-19 in 2019/20 and the resilience of both the Charity and its beneficiaries.

The team provided regular briefings and updates to Centres and held drop-in sessions for Access to HE customers, providing information, advice and guidance. The business development team were restructured, changing the emphasis of the role to relationship management. Relationship managers moved to operating on a regional basis and have a portfolio of customers spanning across the Group., providing a central point of contact for all group-side services. The team are also building relationships with key regional stakeholders, intelligence from which is used to support product development, strategic and business planning.

Page 3

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Achievements and performance delivering public benefit (continued)

Operations

The Operations team provided finance, IT and HR functions, data protection and the management of premises and health and safety, particularly in the context of Covid-19. Governance and risk management is the responsibility of the Chief Operating Officer who heads up this team.

There was a staged re-opening of Charity premises with, in some instance, a move to permanent home working for some staff. For other staff, whose role permits it, flexible working patterns that supported a mix of home and office-based work was introduced. A Covid-19 Risk Assessment was developed in advance of staff returning and updated/maintained to reflect new and emerging guidance. The development of this was supported by a group of staff from different teams and entities within the Group. Health and safety equipment and resources have been purchased to help mitigate the risk of Covid-19 in the workplace.

The “lockdown” period tested the ability of the Charity to work remotely whilst continuing to support customers and maintain business functions. This was, generally, very successful but raised questions about the longer term need to sustain remote working and provide professional online support for customers. It became clear that there is far wider acceptance of online professional development and an increasing willingness to participate in virtual meetings and events. As it was felt that this way of working was likely to continue post-pandemic, IT hardware and other resources needed to support remote working and the growth objectives of the Charity were identified. Investment was made into audio visual equipment supporting virtual and hybrid meetings (a mix of virtual participants and face-to-face).

b. Fundraising standards information

The charitable group does not carry out any significant fundraising activities.

Financial review

a. Going concern

Trustees worked closely with the Executive Leadership Team to develop strategic and operational plans that not only mitigate the impact of Covid-19 but also supported the sustained growth of the Group and its subsidiary charities. Such plans included the development of new products and services, and the identification of resources needed to support current and future planned developments.

The acquisition of BIIAB Qualifications Limited (BIIAB), which presented itself at the start of the previous financial year, was completed in February 2021. This followed detailed financial and legal due diligence. In agreeing the purchase, Trustees were keen to protect the financial health of the Group and its subsidiary charities. A purchase agreement was, therefore, put into place providing a model supporting a) minimal cash payment on the date of purchase; and, b) staged purchase payments linked to profitability over a five-year period. The acquisition of BIIAB significantly extended the portfolio of services offered across the Group, increasing the number of customers and access to market. Trustees are confident that BIIAB will make a positive contribution to the on-going financial growth of the Skills and Education Group.

Trustees have also looked at “going concern” in the context of Covid-19, the impact of this and the ways which any impact can be mitigated. Trustees remain confident that the Charity has the continuing resilience to adapt and develop its strategic and operational business plans to meet the needs of its beneficiaries and to find new ways of working.

Page 4

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

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 Groupwide 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:

Total funds at the end of the year which are all unrestricted were £379,718 (2020: £53,148) after taking into account a Local Government pension liability of £600,000 (2020: £907,000). Free reserves at the end of the year are £313,346, which is in line with the reserves policy. The reserves policy is set at group level and more details on the policy are available in the consolidated Skills and Education Group accounts.

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 surplus of £20,570, before actuarial pension gains of £306,000. (2020: £7,003 surplus before actuarial losses of £150,000).

Total income was £392,148 (2020: £330,643). Total expenditure was £371,578 (2020: £323,640). The primary cost to the Charity are salaries and associated costs.

Net assets at the year end are £379,718 (2020: £53,148).

Page 5

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

d. Risk management

Trustees remain aware of the educational and political environment in which the Charity operates and recognise, in particular, the challenges facing providers in the further education sector.

Key risks to the Charity are:

Trustees are satisfied that the systems and review process are in place to mitigate and manage the risks. Strategic risks are managed and monitored through risk registers; one for each of the charities within the charitable group. Risk registers are reviewed and updated by the Executive Leadership Team on a quarterly basis prior to a review by Trustees.

Risk registers are rated on a weighted likelihood and impact scale based on Charity Commission guidance.

A Covid 19 Risk Assessment was carried out in August 2020 prior to the office fully re-opening for all staff after the first national lockdown. The Risk Assessment identifies the control measures and actions needed to ensure compliance with restriction measures and to ensure a safe working environment. The Risk Assessment is reviewed on a monthly basis and/or when there are changes to the restrictions put into place by the Government.

Structure, governance and management

a. Constitution

The organisation is a charitable company limited by guarantee, incorporated in 1999.

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 July 2018 and reflect current structural and governance requirements. The objectives of the Charity are defined as “the advancement of the education, learning and training of young persons and adults in Yorkshire and elsewhere”.

Skills and Education Group Access is a controlled charity within the wider Skills and Education Group which includes:

Page 6

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

Structure, governance and management (continued)

b. Methods of appointment or election of Trustees

There were four changes to the Board of Trustees during the year:

A C Birch (appointed 26 January 2021) A G Stott (resigned 14 October 2020) J E Austin (resigned 12 February 2021) G M Alton OBE (resigned 6 April 2021)

Newly appointed trustees were recruited in accordance with the Articles of Association adopted 2 July 2018.

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 on-going and future skills and knowledge needs.

c. Organisational structure and decision-making policies

The Board of Trustees meets four times a year. Trustees:

A Chairs and ELT Group meets four times a year and enables the Chairs to have a collective and strategic oversight of the Charity. The Chairs of the Charity, Skills and Education Group and Skills and Education Awards are members of this Group.

The group meets prior to quarterly Board of Trustees meetings and provides a structure for the Chairs to review and monitor:

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.

Page 7

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

Structure, governance and management (continued)

Day-to-day management of the Charity is delegated to the Group Chief Executive Officer, Paul Eeles, who is supported by:

The CEO, COO and two Directors form the Executive Leadership Team. The COO is the Company Secretary for the purpose of Company Law.

The Executive Leadership Team meets on a weekly basis with one meeting a month having a focus on financial performance. Other discussion items include:

At the end of 2021, a senior management team (SMT) consisting of Heads of Service was created. This reflects the size and diverse nature of the Group of charities/companies. The SMT meet monthly and inform the development and implementation of day-to-day business/operational plans and longer-term strategic plans.

In addition, a Scrutiny Group meets once a month to formally review regulatory needs across all awarding functions and other regulatory requirements including those relating to the Information Commissioners Officer (ICO), Companies House and the Charity Commission. Scrutiny Group membership is the ELT, Deputy Director of Awarding/Responsible Officer, Head of Access, Head of Compliance and Regulation and the Head of Quality.

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 when the opportunity to meet with key staff to gain a detailed understanding of the Charity and the subsidiaries within this.

Trustees complete a declaration of interest record and skills audit on appointment. Declarations are noted on a Register which is reviewed and updated on an annual basis.

e. Pay policy for key management personnel

Remuneration for the Chief Executive is determined by the Chairs of the Skills and Education Group and subsidiary charities. The Chief Executive determines the remuneration for all staff, including the Executive Leadership Team.

Annual cost of living pay awards for all other staff are subject to recommendation and approval of the Board of Trustees.

Page 8

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

Plans for future periods

Trustees supported the development and adoption of “Ambition 2025”, challenging assumptions and using their skills and knowledge to define objectives and associated targets. Ambition 2025 is a five-year strategic plan that articulates ten key priorities that will take the Charity forward. This re-defined 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, awards, 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 longer-term objectives:

Trustees recognised the importance of the White Paper “Skills for Jobs: Lifelong Learning for Opportunity and Growth" (published January 2021) and continue to consider the future direction of the Charity in the context of further education reforms. Trustees recognise the importance of accessible, responsive, and flexible training and the role that employers have in this. The future plans of the Charity are aligned to the White Paper (much of which has been welcomed by the further education sector) and are reflected in business plans that support Ambition 2025.

Trustees also note, the intent for excellent teaching in further education and the role that the Charity has through its professional development offer in supporting this.

Page 9

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

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:

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 auditor

In so far as the trustees are aware:

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.

Approved by order of the members of the board of trustees and signed on their behalf by:

Yultan Mellor (Mar 31, 2022 08:34 GMT+1)

Y Y Mellor (Chair of Trustees) Date: Mar 31, 2022

Page 10

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP ACCESS

Opinion

We have audited the financial statements of Skills and Education Group Access (the 'charitable company') for the year ended 31 August 2021 which comprise the statement of financial activities, the balance sheet 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:

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 Auditor's 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 directors' 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 11

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP ACCESS (CONTINUED)

Other information

The other information comprises the information included in the trustees' report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the trustees' 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the 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 directors' 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:

Page 12

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP ACCESS (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.

Auditor's 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 auditor's 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charitable company and the sector in which it operates, and considered the risk of such regulations, including fraud. Based on our understanding of the charitable company, we identified that the principal risks of non-compliance with laws and regulations related to license regulations for being an access validating agency, and we considered the extent to which non-compliance might have a material effect on the financial statements. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error.

We focussed on laws and regulations relevant to the charitable company which could give rise to a material misstatement in the financial statements. Our testing included discussions with management and directors with direct responsibility for the compliance with laws and regulations, agreeing financial statement disclosures to underlying supporting documentation, and reviewing legal expenses. There are inherent limitations in the audit procedures described and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

As part of our audit, we addressed the risk of management override of internal controls, including testing of journals and review of the nominal ledger. We evaluated whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial

Page 13

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SKILLS AND EDUCATION GROUP ACCESS (CONTINUED)

statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standardsand-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's 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 auditor's 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 the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Marshall (Apr 4, 2022 14:06 GMT+1)

Jane Marshall (Senior Statutory Auditor)

for and on behalf of

BHP LLP

2 Rutland Park Sheffield S10 2PD

Date: Apr 4, 2022

Page 14

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021

Note
Income from:
Charitable activities
4
Investments
5
Other income
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net movement in funds before other recognised
gains/(losses)
Other recognised gains/(losses):
Actuarial gains/(losses) on defined benefit pension schemes
19
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
374,202
30
17,916
392,148
371,578
371,578
20,570
306,000
326,570
53,148
326,570
379,718		 Total
funds
2021
£
374,202
30
17,916
392,148
371,578
371,578
20,570
306,000
326,570
53,148
326,570
379,718		 Total
funds
2020
£
298,960
758
30,925
330,643
323,640
323,640
7,003
(150,000)
(142,997)
196,145
(142,997)
53,148

The Statement of financial activities includes all gains and losses recognised in the year.

Page 15

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

REGISTERED NUMBER: 03773914

BALANCE SHEET

AS AT 31 AUGUST 2021

Note
Fixed assets
Intangible assets
12
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
Defined benefit pension scheme liability
19
Total net assets
Charity funds
Unrestricted funds
Unrestricted funds excluding pension asset
16
Pension reserve
16
Total unrestricted funds
16
Total funds		 48,101
325,323
373,424
(60,078)
979,718
(600,000)		 2021
£
25,527
640,845
666,372
313,346
979,718
979,718
(600,000)
379,718
379,718
379,718		 27,012
289,565
316,577
(35,713)
960,148
(907,000)		 2020
£
21,761
657,523
679,284
280,864
960,148
960,148
(907,000)
53,148
53,148
53,148

Page 16

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2021

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 authorised for issue by the Trustees and signed on their behalf by:

Yultan Mellor (Mar 31, 2022 08:34 GMT+1)

Y Y Mellor

(Chair of Trustees) Date: Mar 31, 2022

Page 17

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1. General information

The Charity is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Its aim is the advancement of the education, learning and training of young persons and adults in Yorkshire and elsewhere.

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) (published in October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Skills and Education Group Access 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.

The financial statements are prepared in £ sterling which is the functional currency of the Charity and rounded to the nearest £1.

The charity has taken advantage of the available exemption from preparing a cash flow statement and therefore has not included a cash flow statement in these financial statements.

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.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

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.

Income relating to the Coronavirus Job Retention Scheme is recognised in the period for which the funding is claimed.

Page 18

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

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. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

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.

2.5 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.

Page 19

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

2.6 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 basis:

Assets under construction - not depreciated Website - 16.66% straight line

2.7 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 bases:

2.8 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.

2.9 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.

Page 20

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

2.10 Liabilities

Liabilities and provisions 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.

2.11 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.

2.12 Employee benefits

When employees have rendered services to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

2.13 Pensions

The charitable company contributes to the West Yorkshire Pension Scheme (WYPS), a defined benefit scheme, at rates set by the scheme's actuaries. The charity accounts for the scheme as a defined benefit scheme in accordance with Charities SORP (FRS102).

The charity also contributes in respect of certain employees to the Teachers' Pension Scheme (TPS), a statutory, contributory, final salary scheme. The TPS is unable to identify the charity's share of the underlying assets and liabilities on a consistent or reasonable basis, and accordingly the charity accounts for its contributions to the scheme in accordance with Charities SORP (FRS 102) as if it were a defined contribution scheme.

2.14 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.

Page 21

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

The present value of the WYPS defined liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net costs or income for pensions include the discount rate. Any changes in these assumptions will impact the carrying amount of the liability.

4. Income from charitable activities

Learner recognition
HE recognition
Total 2020		 Unrestricted
funds
2021
£
17,995
356,207
374,202
298,960		 Total
funds
2021
£
17,995
356,207
374,202
298,960		 Total
funds
2020
£
17,300
281,660
298,960

5. Investment income

Interest receivable
Total 2020		 Unrestricted
funds
2021
£
30
758		 Total
funds
2021
£
30
758		 Total
funds
2020
£
758

Page 22

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

6. Other incoming resources

Lettings and other income
Coronavirus job retention scheme income
Total 2020		 Unrestricted
funds
2021
£
15,893
2,023
17,916
30,925		 Total
funds
2021
£
15,893
2,023
17,916
30,925		 Total
funds
2020
£
18,583
12,342
30,925

7. Analysis of expenditure on charitable activities

Learner recognition
HE recognition
Total 2020		 Unrestricted
funds
2021
£
75,984
295,594
371,578
323,640		 Total
funds
2021
£
75,984
295,594
371,578
323,640		 Total
funds
2020
£
110,971
212,669
323,640

Page 23

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

8. Analysis of expenditure by activities

Learner recognition
HE recognition
Total 2020		 Activities
undertaken
directly
2021
£
62,727
58,199
120,926
136,433		 Support costs
2021
£
13,257
237,395
250,652
187,207		 Total
funds
2021
£
75,984
295,594
371,578
323,640		 Total
funds
2020
£
110,971
212,669
323,640

Analysis of direct costs

Staff costs
QAA licence fee
Access validating agency
Total 2020		 Learner
recognition
2021
£
62,727
-
-
62,727
77,403		 HE
recognition
2021
£
-
21,578
36,621
58,199
59,030		 Total
funds
2021
£
62,727
21,578
36,621
120,926
136,433		 Total
funds
2020
£
77,403
18,871
40,159
136,433

Page 24

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Interest on pension obligation
Depreciation and amortisation
Software and IT support
Reprographics, postage and stationery
Marketing, advertising and hospitality
Travel and subsistence
Other staff costs
Premises
Bank charges
Irrecoverable VAT
Central recharge
Legal and professional fees
Audit fees		 Learner
recognition
2021
£
858
1,295
921
575
51
90
7
960
32
(1,990)
9,872
141
445
13,257		 HE
recognition
2021
£
13,142
19,784
14,068
8,786
718
1,261
112
14,660
484
4,638
150,772
2,160
6,810
237,395		 Total
funds
2021
£
14,000
21,079
14,989
9,361
769
1,351
119
15,620
516
2,648
160,644
2,301
7,255
250,652		 Total
funds
2020
£
14,000
21,513
13,326
4,193
2,291
4,446
-
16,411
630
9,465
92,055
2,298
6,579
187,207

Staff costs, audit and accounting and depreciation costs have been allocated based on directly attributable expenditure. The remaining support costs have been allocated based on a percentage of income basis.

In the year ended 31 August 2020, support cost expenditure was allocated as £33,568 recognised as Learner recognition and £153,639 recognised as HE recognition.

9. Auditor's remuneration

2021 2020
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual accounts 7,255 5,760
Fees payable to the Charity's auditor in respect of:
All assurance services not included above 360 420

Page 25

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

10. Staff costs

Wages and salaries
Social security costs
Pension costs		 2021
£
45,544
4,128
13,055
62,727		 2020
£
57,661
4,259
15,483
77,403

The average number of persons employed by the Charity during the year was as follows:

2021 2020
No. No.
Administrative staff 3 4

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel are remunerated through the parent charity.

During the year, no redundancy payments (2020: payments of £3,665) were made.

Page 26

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020: £nil).

During the year, no expenses were reimbursed or paid directly to Trustees (2020: £nil).

12. Intangible assets

Cost
At 1 September 2020
Additions
At 31 August 2021
Amortisation
At 1 September 2020
Charge for the year
At 31 August 2021
Net book value
At 31 August 2021
At 31 August 2020		 Assets under
construction
£
-
3,116
3,116
-
-
-
3,116
-		 Website
£
26,643
5,051
31,694
4,882
4,401
9,283
22,411
21,761		 Total
£
26,643
8,167
34,810
4,882
4,401
9,283
25,527
21,761

Page 27

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

13. Tangible fixed assets

Cost or valuation
At 1 September 2020
At 31 August 2021
Depreciation
At 1 September 2020
Charge for the year
At 31 August 2021
Net book value
At 31 August 2021
At 31 August 2020
Debtors
Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Leasehold land
and buildings
£
1,325,916
1,325,916
669,213
16,450
685,663
640,253
656,703		 Fixtures and
fittings
£
25,732
25,732
25,246
61
25,307
425
486		 Office
equipment
£
44,425
44,425
44,091
167
44,258
167
334
2021
£
12,747
973
1,528
32,853
48,101		 Total
£
1,396,073
1,396,073
738,550
16,678
755,228
640,845
657,523
2020
£
2,404
-
2,240
22,368
27,012

14. Debtors

Page 28

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

15. 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		 2021
£
33,912
69
2,129
3,271
20,697
60,078		 2020
£
10,042
2,321
839
2,554
19,957
35,713

Page 29

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

16. Statement of funds

Statement of funds - current year

Unrestricted funds
General funds
Pension reserve
Statement of funds - prior year
Unrestricted funds
General funds
Designated pension reserve		 Balance at 1
September
2020
£
960,148
(907,000)
53,148
Balance at
1 September
2019
£
952,145
(756,000)
196,145		 Income
£
392,148
-
392,148
Income
£
330,643
-
330,643		 Expenditure
£
(372,578)
1,000
(371,578)
Expenditure
£
(322,640)
(1,000)
(323,640)		 Gains/
(Losses)
£
-
306,000
306,000
Gains/
(Losses)
£
-
(150,000)
(150,000)		 Balance at 31
August 2021
£
979,718
(600,000)
379,718
Balance at
31 August
2020
£
960,148
(907,000)
53,148

17. Summary of funds

Summary of funds - current year

Balance at 1
September Gains/ Balance at 31
2020 Income Expenditure (Losses) August 2021
£ £ £ £ £
General funds 53,148 392,148 (371,578) 306,000 379,718

Page 30

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

17. Summary of funds (continued)

Summary of funds - prior year

Balance at Balance at
1 September Gains/ 31 August
2019 Income Expenditure (Losses) 2020
£ £ £ £ £
General funds 196,145 330,643 (323,640) (150,000) 53,148

18. 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
Pension reserve
Total
Analysis of net assets between funds - prior year
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Pension scheme liability
Total		 Unrestricted
funds
2021
£
640,845
25,527
373,424
(60,078)
(600,000)
379,718
Unrestricted
funds
2020
£
657,523
21,761
316,577
(35,713)
(907,000)
53,148		 Total
funds
2021
£
640,845
25,527
373,424
(60,078)
(600,000)
379,718
Total
funds
2020
£
657,523
21,761
316,577
(35,713)
(907,000)
53,148

Page 31

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

19. Pension commitments

The Charity contributes to defined benefit pension schemes on behalf of those employees who remain auto-enrolled who are not members of either the West Yorkshire Pension Fund or the Teachers' Pension Scheme, which are defined benefit arrangements.

Teachers' Pension Scheme

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019. The key elements of the valuation and subsequent consultation are:

The next valuation result is due to be implemented from 1 April 2023.

A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The group has accounted for its contributions to the scheme as if it were a defined contribution scheme. The group has set out above the information available on the scheme.

West Yorkshire Pension Fund

The charity participates in the West Yorkshire Pension Fund (WYPF) which is a multi-employer defined benefit scheme.

The date of the most recent comprehensive actuarial valuation was 31 March 2019. The last full actuarial valuation of this scheme by a qualified, independent actuary as at 31 March 2019 was updated on an approximate basis to 31 August 2021.

Page 32

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

19. Pension commitments (continued)

Contributions were paid at rates of 6.5% to 8.5% for employees throughout the year. Employer's contributions were 45% in the year to 31 August 2021 (year to 31 August 2020 - 45%).

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

At 31 August At 31 August
2021 2020
% %
Discount rate 1.70 1.60
Future salary increases 3.95 3.65
Future pension increases 2.70 2.40
CPI inflation 2.70 2.40
Pension accounts revaluation rates 2.70 2.40
At 31 August At 31 August
2021 2020
Years Years
Mortality rates (in years)
- for a male aged 65 now 21.9 21.8
- at 65 for a male aged 45 now 22.6 22.5
- for a female aged 65 now 24.7 24.6
- at 65 for a female aged 45 now 25.8 25.7

Sensitivity analysis

At 31 August At 31 August
2021 2020
£ £
Discount rate +0.1% (35,000) (36,000)
Discount rate -0.1% 35,000 36,000
Mortality assumption - 1 year increase (99,000) (97,000)
Mortality assumption - 1 year decrease 96,000 95,000

Page 33

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

19. Pension commitments (continued)

The Charity's share of the assets in the scheme was:

Equities
Government bonds
Corporate bonds
Property
Cash and other liquid assets
Other
Total fair value of assets		 At 31 August
2021
£
1,549,000
154,000
85,000
73,000
42,000
27,000
1,930,000		 At 31 August
2020
£
1,283,000
160,000
82,000
71,000
28,000
25,000
1,649,000

The actual return on scheme assets was £350,000 (2020 - £57,000).

The amounts recognised in the Statement of financial activities are as follows:

Current service cost
Interest cost
Total amount recognised in the Statement of financial activities		 2021
£
10,000
14,000
24,000		 2020
£
9,000
14,000
23,000

Movements in the present value of the defined benefit obligation were as follows:

Opening defined benefit obligation
Interest cost
Contributions by scheme participants
Actuarial losses
Benefits paid
Current service cost
Closing defined benefit obligation		 2021
£
2,556,000
40,000
1,000
18,000
(95,000)
10,000
2,530,000		 2020
£
2,533,000
45,000
1,000
62,000
(94,000)
9,000
2,556,000

Page 34

(A company limited by guarantee)

SKILLS AND EDUCATION GROUP ACCESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

19. Pension commitments (continued)

Movements in the fair value of the Charity's share of scheme assets were as follows:

Opening fair value of scheme assets
Interest income
Actuarial gains/(losses)
Contributions by employer
Contributions by scheme participants
Benefits paid
Closing fair value of scheme assets		 2021
£
1,649,000
26,000
324,000
25,000
1,000
(95,000)
1,930,000		 2020
£
1,777,000
31,000
(88,000)
22,000
1,000
(94,000)
1,649,000

20. Related party transactions

During the year the charity was recharged wages costs from its parent, Skills and Education Group, totalling £160,644 (2020: £66,376), and made payments to its parent totalling £160,577 (2020: £92,055). At the year end an amount of £69 (2020: £107) was owed to Skills and Education Group.

Skills and Education Group Awards, a subsidiary of the parent company Skills and Education Group, recharged costs of £15,043 (2020: £20,764) to the charity. Payments were also made to the charity from the same subsidiary of £4,003 (2020: £55,387). At the year end a balance of £973 (2020: £2,214 owed to) was owed from Skills and Education Group Awards.

J Austin is also a director of RNN Group. During the year, income of £29,407 (2020: £23,964) was received from the company. There was £225 outstanding from the company at the year end (2020: £nil).

Y Y Mellor is also a trustee of Northern College for Residential Adult Education. During the year, income of £9,622 (2020: £9,730) was received from the charity. There are no amounts outstanding from the charity at the year end (2020: £nil).

A Foulkes, a trustee, is also Chief Executive and Principal of Sheffield College. During the year, income of £56,150 (2020: £51,320) was received from The Sheffield College. There was £1,078 outstanding from the College at the year end (2020: £nil).

G Alton, a trustee, is also Chief Executive of Grimsby Institute Group. During the year, income of £12,201 (2020: £nil) was received from Grimsby Institute. There are no amounts outstanding from Grimsby Institute at the year end (2020: £nil).

Page 35

SKILLS AND EDUCATION GROUP ACCESS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

21. 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).

Skills and Education Group has a number of common Trustees of Skills and Education Group Access.

The most senior parent entity producing publicly available consolidated financial statements is Skills and Education Group. These financial statements are available upon request from Robins Wood House, Robins Wood Road, Aspley, Nottingham, Nottinghamshire, NG8 3NH.

Page 36