2023-07-31-accounts - Independent Training Services Limited

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				Page
Reference and administrative details			ofthe charity, its trustees, and advisers
Trustees' report
Independent	auditor's	report		10
Consolidated	statement	offinancial	activities	14
Consolidated	statement	offinancial	position	15
Company stotement of		financial position		16
Consolidated	stotement	ofcash flows		17
Notes to the	financial statements			18

				Total	Total
				funds	Funds
				2023	2022
			Note	E	E
INCOME AND ENDOWMENTS		FROM:
Charitable activities				1,014,359	1,672,548
Other trading activities				54,980	54,740
Other income				264	38
TOTAL INCOME				1069603	1727 326
EXPENDITURE ON:
Charitable activities				(908,730)	(1,744,082)
Other trading activities				(16,285)	(23,699)
TOTAL EXPENDITURE				(925,015)	(1,767,781)
Net income I(expenditure)	before taxation			1441588	(40,455)
Taxation
NET INCOME I(EXPENDITURE)		BEFORE TRANSFERS		144,588	(40,455)
NET INCOME I(EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES				144,588	(40,455)
Actuarial gains on defined benefit pension schemes			17	308,000	443,000
Restriction ofactuarial surplus			17	(310,000)	(111,000)
NET MOVEMENT IN FUNDS				142,588	291,545
RECONCILIATION OF FUNDS:
Total funds brought forward				97,135	(194,4'10)
TOTAL FUNDS CARRIED FORWARD				239,723	97,135
The notes on pages 18to 37	form part ofthese financial statements.

CONSOL	ID	ATED STATEMEN	T OF FINA	NCIAL POSITION	AS AT 31JULY	2023
					2023		2022
			Note
FIXEDASSETS
Tangible assets							885
							885
CURRENT ASSETS
Debtors			10	306,551		295,183
Cash at bank and in hand				6,094		37,256
				312,645		332,439
CREDITORS:amounts one year	failing due within		11	(72,922)		(236,189)
NET CURRENT ASSETS					239,723		96,250
TOTAL ASSETS LESSCURRENT LIABILITIES					239,723		97,135
NET ASSETS EXCLUDING SCHEME LIABILITIES		PENSION			239,723		97,135
Defined benefit pension		scheme liability	17
NET ASSETS INCLUDING SCHEME LIABILITIES		PENSION			239,723		97,135
FUNDS
Restricted funds
Unrestricted funds:			13		239,723		97,135
TOTAL FUNDS					239,723		97,135

					2023		2022
					E		E
			Note
FIXEDASSETS
Tangible assets							787
Investments					1,000		1,000
					1,000		1,787
CURRENT ASSETS
Debtors			10	520,640		478,354
Cash at bank and in hand				3,235		26,515
				523,876		504,869
CREDITORS: amounts within one year	falling due		11	(71&922)		(157,596)
NET CURRENT ASSETS					451,954		347,273
TOTAL ASSETS LESSCURRENT LIABILITIES					452,954		349,060
CREDITORS: amounts	falling due after
more than one year
NET ASSETS EXCLUDING PENSION SCHEME LIABILITIES					452,954		349,060
Defined benefit pension		scheme liability	17
NET ASSET INCLUDING SCHEME LIABILITIES		PENSION			452,954		349,060
CHARITY FUNDS
Restricted funds
Unrestricted funds:			13		452,954		349,060
TOTAL SURPLUS FUNDS					452,954		349,060

				2023	2022
			Note
Cash f(ows from operating	activities
Net cash from operating activities			15	(31,162)	(67,525)
Cash flows from financing	activities:
Repayments ofborrowings
Interest on borrowings
Tax paid
Net cash used in financing	activities
Change in cash and cash	equivalents	in the year		(31,162)	(67,525)
Cosh ond cash equivalents	brought forward			37,256	104,781
Cash and cash equivalents	carried forward		16	6,094	37,256
The notes on pages 18to 37form part		ofthese financial	statements.

						Total	Total
						2023	2022
						E	E
ESFA —Non-levy		I levy income				622,965	419,220
ESFA —Learner	Responsive						(2,788)
Other						391,394	1,256,116
						1,014,359	1,672,548
3. DIRECT COSTS
						Totol	Total
						2023	2022
						E	E
Administration		expenses				52,086	103,328
Educational	expenditure			and associated recreational	costs	96,662	535,459
Wages and salaries						464,886	624,435
National insurance						72,281	61,589
Staff Pension		costs				37,073	37,723
						722988	1,362,534
4. SUPPORT	COSTS
						2023	2022
						E	E
Premises costs						5,846	76,837
Office administrative			costs			179,343	266,550
Computer and software costs						6,946	10,682
Depreciation and arnortisation						787	8,777
Bank charges						682	(166)
Bad debts						(3,862)	12,868
Pension interest						(4,000)	6,000
						185,742	381,548

This is stat	ed after charging:
					2023	2022
					E	E
Depreciation oftangible fixed assets: —owned by			the charitable group		767	8,777
Operating	lease rentals				30,000	30,000
During the	year, no Trustees	received any remuneration		(2022 - Enil).
During the	year, no Trustees	received any benefits	in kind	(2022 - Enil).
During the	year, no Trustees	received any reimbursement		ofexpenses (2022 - Enil).

Fees payable to the company's annual accounts	Fees payable to the company's annual accounts	auditor for the audit ofthe group	2023	2022
			E	6
Independent Training	Services	Ltd	12,000	12,500
SmartStyle Technology	Training	Ltd	600	3000
			12,600	15,500

Staff c	osts were as follows:
		Group	Company	Group	Company
		2023 E	2023 E	2022 6	2022f
Wages	and salaries	464,886	464,886	624,435	624,435
Social	security costs	72,281	72,281	61,589	61,589
Other	pension costs	37,073	37,073	37,723	37,723
		574,240	574,240	723,747	723,747

	2023	2022
	No.	No.
Administration	11	6
Teaching	13	12
Management	2	4
	26	22

The Managing Director is the highest paid member ofstaff. Their remuner follows:	ation received in the year	isas
	2023	2022
	E'000	6'000
Salaries —gross ofsalary sacrifice and waived emoluments	68	65
Employers National Insurance	8	9
	76	74
Pension contributions	19	19
Total emoluments	95	93

	Fixtures and	Computer	Total
	fittings	equipment
	6	6
Group
Cost
At 1August 2022	15,880	11,314	27,194
Additions
Disposals
At 31July 2023	15,880	11,314	27,194
Depreciation
At 1 August 2022	15,880	10,429	26,309
Charge for the year		885	885
Disposals
At 31July 2023	15,880	11&314	27,194
Net book value
At 31July 2023
At31July 2022		885	885
	Fixtures and fittings	Computer equipment	Total
Charity	6	6
Cost
At 1August 2022	15,880	10,430	26,310
Additions
Disposals
At 31July 2023	15,880	10,430	26,310
Depreciation
At 1August 2022	15,880	9,643	25,523
Charge for the year		787	787
Disposals
At 31July 2023	15,880	10,430	26,310
Net book value
At 31July 2023
At 31July 2022		787	787

				Group		Company
			2023	2022	2023	2022
Trade debtors			65,597	65,148	51,154	55,934
Amounts	owed by group parent		42,669		271,201	202,852
Prepayments		and accrued income	198,285	230,035	198,285	219,568
			306,551	295,183	520,640	478,354

			Grou		Com an
		2023	2022	2023	2022
		E	E	E	E
Trade creditors		25,582	76,662	26,112	76,042
Amounts	owed to group undertakings		76,495
Other taxation and social security		22,584	18,821	21,150	18,427
Accruals	and deferred income	24,756	64,211	24,660	63,127
		72,922	236,189	71,922	157,596

				2023	2022
				E	E
Financial	assets measured	at	amortised cost	263,882	295,183
Financial	liabilities measured		at amortised cost	50,338	140,873

13 CON	SOLIDATED	STATEMENT OF	FUNDS STATEM	ENT - CURRENT Y	EAR
		Balance at	Income	Expenditure	Transfers	Gains/	Balance at
		1August			in/out	(Losses)	31July
		2022 E		E	E		2023 E
General Funds
General Funds		97,135	1,069,603	(927,015)			239,723
Pension reserve				2,000		(2,000)
Other General	Funds
Total		97,135	1,069,603	(925,015)		(2,000)	239,723
Unrestricted Funds		97,135	1,069,603	(925,015)		(2,000)	239,723
Totalfunds		97,135	1,069,603	(925,015)		(2,000)	239,723

		Ba(ance at	Income	Expenditure	Transfers	Gains/	Ba(ance at
		1August			in/out	(Losses)	31July
		2022					2023
		E					E
GeneralFunds
Genera(Funds		127,591	1,727,326	(1,757,781)			97,135
Pension reserve		(322,000)		(10,000)		332,000
Other General Funds
Total		(194,410)	1,727,326	(1,767,781)		332,000	97,135
Unrestricted	Funds	(194,410)	1,727,326	(1,767,781)		332,000	97,135
Totalfunds		(194410)	1727 326	(1767781)		332,000	97,135

					Unrestricted	Restricted	Total
					funds	funds	funds
					2023	2023	2023
Tangible	fixed	assets
Current	assets				312,645		312,645
Creditors	due	within	one	year	(72,922)		(72,922)
					239,723		239,723

					Unrestricted	Restricted	Total
					funds	funds	funds
					2023	2023	2023
					6	6	E
Tangible	fixed	assets			885		885
Current	assets				382,466		382,466
Creditors	due	within	one	year	(286,216)		(286,216)
					97,135		97,135

						Group
					2023	2022
					E	E
Net income	for the year		(as per Statement	ofFinancial Activities)
					1441588	(40,455)
Adjustment	for
Depreciation	charges				885	8,777
Tax charge
Increase in	debtors				(11,368)	(136,662)
(Decrease)/increase		in creditors			(163,267)	90,815
Interest costs					(4,000)	6,000
Pension costs					2,000	4,000
Net cash from operating			activities		(31,162)	(67,525)

		Group
	2023	2022
	6	6
Cashin hand	6,094	37,256
Tote I	6,094	37,256

ctuarial assumptions at the statement offinancia	l position date (expressed as weig	htedaverag
	2023	2022
Discount rate at 31July	5.05o/o	3.45'Yo
CPI inflation rate	3.00'Yo	3.1.5'Yo
Future sa lory increases	3.60'/o	2.80'Yo
Future pension increases	3.00o/o	3.15'Yo

The assets in the scheme were:	Fair value at	Fair value at
	31July	31July
	2023	2022
	E	E
Equities	1,506,000	1,487,000
Government bonds	480,000	481,000
Property	174,000	197,000
Cash / liquidity	22 000	22 000
Total market value ofassets	2,182,000	2,187,000

		2023	2022
		E
Current service cost		22,000	25,000
Interest cost on pension scheme obligations		(4,000)	6,000
Total		18,000	31,000
Movement in net defined benefit	liability during year	2023	2022
		E'000	E'000
Net defined benefit liability at 1August
Movement in year:			(322,000)
Current service cost		(22,000)	(25,000)
Employer contributions		20,000	21,000
Net interest on the defined	liability	4,000	(6,000)
Actuarial gain		308,000	443,000
Restriction ofactual surplus		(310,000)	(111,000)
Net defined benefit liability at 31July

Moveme	nts in the present value ofthe defined benefit o	bligation were as follows:
		2023	2022
		E	E
Opening	defined benefit obligation	2,076,000	2,500,000
Interest	cost	71,000	40,000
Contributions by scheme participants		6,000	6,000
Current	service cost	22,000	25,000
Benefits	paid	(72,000)	(77,000)
Actuarial	(gains)/loss	(342,000)	(418,000)
Closing	defined benefit obligation	1,761,000	2,076,000

						2023	2022
							E
Opening		fair value ofscheme assets				2,187,000	2,178,000
Expected return			on assets			(111,000)	25,000
Actuarial		gains/(losses)				152,000	34,000
Contributions by			employer			20,000	21,000
Contributions by			scheme	participants		6,000	6,000
Benefits		paid				(72,000)	(77,000)
						2,182,000	2,187,000
Amounts		for the	current	and previous	period are as follows:
						2023	2022
							E
Defined	benefit obligation					(1,761,000)	(2,076,000)
Scheme		assets				2,182,000	2,187,000
Restriction ofactual surplus						(421,000)	(111000)
Surplus	/	(deficit)
Experience adjustments				on scheme liabilities		190,000	12,000

		Land and buildings		Other
Group:		2023	2022	2023	2022
		E	6	E	6
Amounts	payable
Within 1	year	30,000	8,100	554	554
Between	1and 5years
Total		30,000	8,100	554	554

	2023	2022
Within 1year	30,000	8,100
Between 1and 5years
Total	30000	8,100

ummary oftransacti	ons with	organisations	connect	ed t	o members	ofthe B	oard	of Dire	ctor	s
Related Party	Related party of the company	Transactions during the year	Income Related		Expenditure Related	Debtor Balance 31July 2023	at	Creditor Balance 31July 2023	at	Nature of goods or services purchased by the college	Nature of 9oods ar services purchased by the other party
BARNSLEY &
ROTHERHAM CHAMBER	Director	E696			E696		EO			Subscriptions	n/a
OF COMMERCE
Barnsley MBC	Director	(E3,861)		EO	(E3,861)		EO	f712		Rates & Venue Hire	n/a
NOCN	Director	E1,618		EO	E1,618		EO		EO	Exam costs	n/a