**REGISTERED COMPANY NUMBER: 04609187 (England and Wales) REGISTERED CHARITY NUMBER: 1097945**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **FOR**
## **KNOWSLEY ENTERPRISE ACADEMY**
Williamson Croft (Liverpool) Limited Chartered Certified Accountants Edward House North Mersey Business Centre Knowsley Industrial Park Liverpool Merseyside L33 7UY
**KNOWSLEY ENTERPRISE ACADEMY**
**CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023**
**----- Start of picture text -----**
Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 14
Detailed Statement of Financial Activities 15
**----- End of picture text -----**
**KNOWSLEY ENTERPRISE ACADEMY**
**REPORT OF THE TRUSTEES for the Year Ended 31 March 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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).
## **ACHIEVEMENT AND PERFORMANCE**
The financial turnover for the accounting period (excluding grants and donations) increased on last year due to increased activities at Ormside Education Centre.
## **Ormside Education Centre**
The new building is in the final stages of completion. Promotional material and marketing includes the additional accommodation and bookings have started being taken for the later half of this Academic Year as we envisage full sign off from Building Control by May 2023. We have continued our campaign in highlighting the fact that parents are being offered our residential package at around a third of the cost of alternative provision. Prior to the end of the academic year over 350 children participated in the residential offer which demonstrates a 75% increase in visitors from the previous academic year.
## **NEET TV**
Following a thorough review of NEET TV related activities, work has begun in ensuring that these services are intertwined with activities at Ormside Education Centre, with planned days of filming the education activities provided at the Centre. The initial material created may well be used in future promotional materials/advertising. A partnership with Phase 8 Development Company Ltd is also to be explored in the new financial year.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
Under the Memorandum and Articles of Association, the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that keeping funds in an instant access account provides the most efficient way of running the charity.
## **Reserves policy**
The policy is to ensure that the trust have enough reserves to meet both its commitments to complete Ormside new build and to meet staffing along with the ongoing expense of operating Ormside Education Centre in addition to all other project costs which may be incurred over the next couple of years.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
**KNOWSLEY ENTERPRISE ACADEMY**
**REPORT OF THE TRUSTEES for the Year Ended 31 March 2023**
Knowsley Development Trust established Knowsley Enterprise Academy, whose main objective is to use knowledge and encourage progression by Knowsley's youth regardless of their education or economic status to boost enterprise opportunities and have consistently covenanted monies to enable the charity to develop work around this theme.
Knowsley Enterprise Academy continue to develop projects and programmes with the intention of focusing efforts towards the NEET agenda. Knowsley has one of the highest levels of young people who are "Not in Education, Employment and Training".
Ormside Education Centre is now fully operational and bookings are being taken from Schools across the borough of Knowsley and from other specialist groups including adults with mental health issues etc.
Other activities include the relaunch of NEET TV's film making programme and Knowsley Arts Festival as well as developing a programme in partnership with Phase 8 Development Company Limited aimed at NEET young people to enhance their work experience and provide jobs within the timber-frame construction industry.
## **Recruitment and appointment of new trustees**
Trustees are recruited through recommendation from other trustees and are initially interviewed to identify their suitability based on their skills, prior experience and how these can be utilised by the charity. Should a vacancy arise, the trustees identify key skill areas that the charity would benefit from. This then forms the basis of a recruitment drive to ensure that the right skills are available to the Board.
## **Organisational structure**
All directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees served throughout the year. The Board has the power to appoint additional trustees as it considers fit to do so.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
04609187 (England and Wales)
## **Registered Charity number**
1097945
## **Registered office**
Progress House North Mersey Business Centre Woodward Road Liverpool Merseyside L33 7UY
## **Trustees**
S R Davies Managing Director S R Dumbell Chief Executive D Dumbell Director (appointed 13/4/2022) B J Gilfoyle Project Manager D B Harwood Consultant (resigned 10/7/2023) A Hassan Company Director J Hignett Transport Analyst J F Maddox Director (appointed 13/4/2022) J M Reynolds Insurance Broker
Page 2
**KNOWSLEY ENTERPRISE ACADEMY**
## **REPORT OF THE TRUSTEES**
## **for the Year Ended 31 March 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary** J Hignett
## **Independent Examiner**
Williamson Croft (Liverpool) Limited Chartered Certified Accountants Edward House North Mersey Business Centre Knowsley Industrial Park Liverpool Merseyside L33 7UY
Approved by order of the board of trustees on 21 December 2023 and signed on its behalf by:
S R Dumbell - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KNOWSLEY ENTERPRISE ACADEMY**
## **Independent examiner's report to the trustees of Knowsley Enterprise Academy ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## T STRINGFELLOW
Williamson Croft (Liverpool) Limited Chartered Certified Accountants Edward House North Mersey Business Centre Knowsley Industrial Park Liverpool Merseyside L33 7UY
21 December 2023
Page 4
**KNOWSLEY ENTERPRISE ACADEMY**
## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**177,240**
Investment income
2
**419**
Other income
**24,170**
**Total**
**201,829**
**EXPENDITURE ON**
Raising funds
**-**
**Charitable activities**
Charitable activities
**84,496**
**Total**
**84,496**
**NET INCOME**
**117,333**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**503,781**
**TOTAL FUNDS CARRIED FORWARD**
**621,114**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**75,000**
**75,000**|**2023**
**Total**
**funds**
**£**
**177,240**
**419**
**24,170**
**201,829**
**-**
**84,496**
**84,496**
**117,333**
**578,781**
**696,114**|2022
Total
funds
£
261,470
22
3,785|
|---|---|---|---|
||||265,277|
||||1,500
77,782|
||||79,282|
||||185,995
392,786|
||||578,781|
The notes form part of these financial statements
Page 5
**KNOWSLEY ENTERPRISE ACADEMY**
## **BALANCE SHEET**
## **31 March 2023**
|Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
**255,413**
**10,388**
**361,054**
**371,442**
**(5,741)**
**365,701**
**621,114**
**621,114**|Restricted
fund
£
**75,000**
**-**
**-**
**-**
**-**
**-**
**75,000**
**75,000**|**2023**
**Total**
**funds**
**£**
**330,413**
**10,388**
**361,054**
**371,442**
**(5,741)**
**365,701**
**696,114**
**696,114**
**621,114**
**75,000**
**696,114**|2022
Total
funds
£
132,125
7,836
443,218
451,054
(4,398)
446,656
578,781
578,781
503,781
75,000
578,781|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
**KNOWSLEY ENTERPRISE ACADEMY**
## **BALANCE SHEET - continued**
## **31 March 2023**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 21 December 2023 and were signed on its behalf by:
S R Dumbell - Trustee
The notes form part of these financial statements
Page 7
**KNOWSLEY ENTERPRISE ACADEMY**
**NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Freehold property|- 4% on cost|
|---|---|
|Plant and machinery|- 25% on cost|
|Fixtures and fittings|- 25% on cost|
|Computer equipment|- 25% on cost|
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 8
**KNOWSLEY ENTERPRISE ACADEMY**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||**2023**|2022|
||**£**|£|
|Other interest receivable|**419**|22|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||**2023**|2022|
||**£**|£|
|Depreciation - owned assets|**1,574**|2,826|
## **3. NET INCOME/(EXPENDITURE)**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Activities undertaken directly
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
186,470
Investment income
22
Other income
3,785
**Total**
190,277
**EXPENDITURE ON**
Raising funds
1,500
**Charitable activities**
Charitable activities
77,782|**2023**
**1**
Restricted
fund
£
75,000
-
-
75,000
-
-|2022
2
Total
funds
£
261,470
22
3,785
265,277
1,500
77,782|
|---|---|---|
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
continued...
Page 9
**KNOWSLEY ENTERPRISE ACADEMY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023**
|**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
fund
£
£
**Total**
79,282
-
**NET INCOME**
110,995
75,000
**RECONCILIATION OF FUNDS**
Total funds brought forward
392,786
-
**TOTAL FUNDS CARRIED FORWARD**
503,781
75,000|Total
funds
£|
|---|---|
||79,282|
||185,995
392,786|
||578,781|
## **7. FUND ACCOUNTING**
Restricted funds relate to donations received by the charity to contribute towards the costs of development of the new building at Ormside.
Designated funds relate to unrestricted income received by the charity which has subsequently been designated for use in the development of the building at Ormside.
## **8. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2022
Additions
At 31 March 2023
**DEPRECIATION**
At 1 April 2022
Charge for year
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|Freehold
property
£
**135,716**
**158,076**
**293,792**
**6,003**
**-**
**6,003**
**287,789**
129,713|Plant and
machinery
£
**4,506**
**41,786**
**46,292**
**3,033**
**635**
**3,668**
**42,624**
1,473|Fixtures
and
fittings
£
**27,943**
**-**
**27,943**
**27,943**
**-**
**27,943**
**-**
-|Computer
equipment
£
**34,122**
**-**
**34,122**
**33,183**
**939**
**34,122**
**-**
939|Totals
£
**202,287**
**199,862**|
|---|---|---|---|---|---|
||||||**402,149**|
||||||**70,162**
**1,574**|
||||||**71,736**|
||||||**330,413**|
||||||132,125|
continued...
Page 10
**KNOWSLEY ENTERPRISE ACADEMY**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023**
|**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accrued expenses
**11.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
Unrestricted funds
Designated funds
**Restricted funds**
Restricted funds
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
Unrestricted funds
Designated funds
**TOTAL FUNDS**|
At 1/4/22
£
**144,001**
**359,780**
**503,781**
**75,000**
**578,781**
Incoming
resources
£
**196,153**
**5,676**
**201,829**
**201,829**|**2023**
2022
**£**
£
**90**
-
**10,033**
7,571
**265**
265
**10,388**
7,836
**2023**
2022
**£**
£
**1,961**
1,398
**3,780**
3,000
**5,741**
4,398
Net
movement
At
in funds
31/3/23
£
£
**111,657**
**255,658**
**5,676**
**365,456**
**117,333**
**621,114**
**-**
**75,000**
**117,333**
**696,114**
Resources
Movement
expended
in funds
£
£
**(84,496)**
**111,657**
**-**
**5,676**
**(84,496)**
**117,333**
**(84,496)**
**117,333**|2022
£
-
7,571
265
7,836
2022
£
1,398
3,000
4,398
At
31/3/23
£
**255,658**
**365,456**||2022
£
-
7,571
265|
|---|---|---|---|---|---|
||||||7,836|
||||||2022
£
1,398
3,000|
||||||4,398|
||||**621,114**
**75,000**|||
||||**696,114**|||
||||**117,333**|||
||||**117,333**|||
continued...
Page 11
**KNOWSLEY ENTERPRISE ACADEMY**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023**
## **11. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At 1/4/21
£
**Unrestricted funds**
Unrestricted funds
54,006
Designated funds
338,780
392,786
**Restricted funds**
Restricted funds
-
**TOTAL FUNDS**
392,786
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
Unrestricted funds
169,277
Designated funds
21,000
190,277
**Restricted funds**
Restricted funds
75,000
**TOTAL FUNDS**
265,277|Net
movement
At
in funds
31/3/22
£
£
89,995
144,001
21,000
359,780
110,995
503,781
75,000
75,000
185,995
578,781
Resources
Movement
expended
in funds
£
£
(79,282)
89,995
-
21,000
(79,282)
110,995
-
75,000
(79,282)
185,995|At
31/3/22
£
144,001
359,780|
|---|---|---|
|||503,781
75,000|
|||578,781|
|||110,995
75,000|
|||185,995|
continued...
Page 12
**KNOWSLEY ENTERPRISE ACADEMY**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023**
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
Unrestricted funds
Designated funds
**Restricted funds**
Restricted funds
**TOTAL FUNDS**|At 1/4/21
£
54,006
338,780
392,786
-
392,786|Net
movement
in funds
£
201,652
26,676
228,328
75,000
303,328|At
31/3/23
£
255,658
365,456|
|---|---|---|---|
||||621,114
75,000|
||||696,114|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Unrestricted funds
Designated funds
**Restricted funds**
Restricted funds
**TOTAL FUNDS**|Incoming
resources
£
365,430
26,676
392,106
75,000
467,106|Resources
Movement
expended
in funds
£
£
(163,778)
201,652
-
26,676
(163,778)
228,328
-
75,000
(163,778)
303,328|Resources
Movement
expended
in funds
£
£
(163,778)
201,652
-
26,676
(163,778)
228,328
-
75,000
(163,778)
303,328|
|---|---|---|---|
||||228,328
75,000|
||||303,328|
continued...
Page 13
**KNOWSLEY ENTERPRISE ACADEMY**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023**
## **12. RELATED PARTY DISCLOSURES**
During the year the following transactions took place with companies controlled by multiple Directors:
## Income
- Knowsley Development Trust Ltd - donations received amounting to £154,443 (2022 - £165,471)
- Your Travel Borough Wide Ltd - donation received of £18,170
## Expenditure
- Phase 8 Development Company Ltd - Construction and repair costs amounting to £152,233 (2022 - £98,200)
- Supreme Executive Cars Ltd - Transport costs amounting to £5,632
Page 14
**KNOWSLEY ENTERPRISE ACADEMY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Investment income**
Other interest receivable
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Bad debts
**Charitable activities**
Wages
Pensions
Premises costs - Ormside
Sundries
Travelling expenses
NEET TV costs
Recharge of governance costs
Depreciation of tangible fixed assets
**Finance**
Bank charges
**Governance costs**
Sundries
Accountancy and legal fees
Recharge of governance costs
Total resources expended
**Net income**|2023
£
**177,240**
**-**
**177,240**
**419**
**24,170**
**201,829**
**-**
**41,587**
**945**
**21,487**
**493**
**12,597**
**210**
**5,603**
**1,574**
**84,496**
**108**
**515**
**4,980**
**(5,603)**
**(108)**
**84,496**
**117,333**|2022
£
240,470
21,000
261,470
22
3,785
265,277
1,500
50,847
1,057
11,703
324
5,471
300
5,254
2,826
77,782
152
1,798
3,304
(5,254)
(152)
79,282
185,995|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15