DocuSign Envelope ID: FD61257E-C734-43A8-892B-D96C8ACA8A61
REGISTERED COMPANY NUMBER: 05536198 (England and Wales) REGISTERED CHARITY NUMBER: 1111185
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
FOR
THE ERIC WRIGHT LEARNING FOUNDATION
Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB
DocuSign Envelope ID: FD61257E-C734-43A8-892B-D96C8ACA8A61
THE ERIC WRIGHT LEARNING FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 August 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 8 |
DocuSign Envelope ID: FD61257E-C734-43A8-892B-D96C8ACA8A61
THE ERIC WRIGHT LEARNING FOUNDATION (REGISTERED NUMBER: 05536198)
REPORT OF THE TRUSTEES for the Year Ended 31 August 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 August 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Eric Wright Learning Foundation was opened in 2005 as an ambitious project to provide Preston, South Ribble and the Chorley areas with a vocational centre specialising in construction - and so open a construction industry career path for local young people 14+ who would previously have considered it unfeasible.
To ensure that the opportunities provided address current educational and school requirements, the Learning Foundation relocated its skills provision to Preston College in 2015. We now work in partnership with Preston College and other schools/colleges to deliver three key objectives.
Objective One - Inspire: Through our staff careers ambassador programme, provide advice support and guidance to learners, schools and parents to improve the knowledge and understanding of our industry.
Objective Two - Skills: To provide skills and training to learners from 14+ years covering a wide curriculum through our partnership with Preston College, and extended to all local colleges where we work.
Objective Three - Careers: Progression into work and the opportunity for the Eric Wright Group to support potential direct (or indirect) employees into meaningful careers.
Public benefit
The Trustees confirm that we have paid due regard to the Charity Commission guidance on public benefit reporting in deciding what activities the charity should undertake.
The remainder of this Annual Report explains the charity's work during the year and how it has been carried out for the public benefit.
ACHIEVEMENT AND PERFORMANCE
In 2023 EWLF has supported 86 bursaries to allow students to study at Preston College and achieve GCSE and Btech in Construction and the Built Environment. We have supported College staff in the delivery of their T-level programme.
Throughout 2022-2023 we supported 56 live events in schools supporting 42,596 students. These meaningful engagements have enabled young people from ages 5-19 to learn about careers in construction and the built environment, exploring different roles.
All teaching provision is being provided by Preston College as part of our long-term partnering arrangements. 87 students attended the 14-16 programme.
The Eric Wright Group supported 318 days of work experience during the academic year giving young people a real insight into the working environment. We also hosted our first WOWEX cohort. An opportunity for a group of students to spend a week in the business, working through a project, guided by our staff. The final panel of directors were impressed by their efforts with the presentation of their completed work.
FINANCIAL REVIEW
Strategic Aim
The strategic aim of the organisation is to continue to develop the Eric Wright Learning Foundation based in Preston College, as a centre of excellence for vocational education and training in construction, providing a high quality learning environment in which learners can achieve the best possible results in their chosen course of study and realise their potential.
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THE ERIC WRIGHT LEARNING FOUNDATION (REGISTERED NUMBER: 05536198)
REPORT OF THE TRUSTEES for the Year Ended 31 August 2023
FINANCIAL REVIEW
Small Company Provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Financial Review
The Statement of Financial Activities on page 5 shows a loss of £6 for the year (2022 £Nil).
Reserves Policy
As noted above the teaching provision is now provided by Preston college. The Foundation are committed to offering support for transport for the students and equipment if needed. This greatly reduces the expenditure required to be funded by the Foundation.
The Foundation works closely with the Eric Wright Charitable Trust. Its annual budget is discussed with the trustees, who have indicated their willingness to support the projected level of expenditure.
FUTURE PLANS
Our objective is to improve the knowledge and understanding of our industry, not just for potential learners but also for schools and parents. We want to share our enthusiasm for the industry in that it can provide an exciting and fulfilling career opportunity and is open to a wide spectrum of academic and practical abilities.
EWLF are able to support the creation of a 'real work environment' and assist in the learners' ultimate progression into employment.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, the Memorandum and Articles of Association of the Company, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The Charity was founded in 2005 and is registered with the Charity Commission under charity number 1111185.
The Trustees, being also the Directors of the Company, attend the quarterly Board Meetings at which activities of the charity are reviewed, Financial Reports are analysed and strategy is set.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05536198 (England and Wales)
Registered Charity number
1111185
Registered office
Sceptre House Sceptre Way Bamber Bridge Preston Lancashire PR5 6AW
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THE ERIC WRIGHT LEARNING FOUNDATION (REGISTERED NUMBER: 05536198)
REPORT OF THE TRUSTEES
for the Year Ended 31 August 2023
Trustees
E D Bourne J R Hartnett G Hulme A P Hird N D Whittle
Independent Examiner
Jane Dennis BA(Hons) FCA Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB
Bankers
The Royal Bank of Scotland plc St Ann's Square PO Box 320 St. Ann Street Manchester Greater Manchester M60 2SS 21 May 2024 | 08:42 BST
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... E D Bourne - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ERIC WRIGHT LEARNING FOUNDATION
Independent examiner's report to the trustees of The Eric Wright Learning Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Jane Dennis BA(Hons) FCA
Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB 21 May 2024 | 08:44 BST Date: .............................................
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THE ERIC WRIGHT LEARNING FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 August 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 53,921 EXPENDITURE ON Charitable activities General 53,927 NET INCOME/(EXPENDITURE) (6) RECONCILIATION OF FUNDS Total funds brought forward 651 TOTAL FUNDS CARRIED FORWARD 645 |
2022 Total funds £ 53,300 |
|---|---|
| 53,300 | |
| - 651 |
|
| 651 |
The notes form part of these financial statements
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THE ERIC WRIGHT LEARNING FOUNDATION (REGISTERED NUMBER: 05536198)
BALANCE SHEET 31 August 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 1,665 | 1,671 | |
| CREDITORS | |||
| Amounts falling due within one year | 4 | (1,020) | (1,020) |
| NET CURRENT ASSETS | 645 | 651 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 645 | 651 | |
| NET ASSETS | 645 | 651 | |
| FUNDS | 5 | ||
| Unrestricted funds | 645 | 651 | |
| TOTAL FUNDS | 645 | 651 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
21 May 2024 | 08:42 BST
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. E D Bourne - Trustee
The notes form part of these financial statements
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THE ERIC WRIGHT LEARNING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 August 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 costs 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.
Governance costs
Governance costs include costs of the preparing and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Operating leases
Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
3. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| Charitable activities | 1 | 1 |
No employees received emoluments in excess of £60,000.
continued...
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THE ERIC WRIGHT LEARNING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2023
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accrued expenses | 2023 £ 1,020 |
2022 £ 1,020 |
|---|---|---|
5. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1/9/22 | in funds | 31/8/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 651 | (6) | 645 |
| TOTAL FUNDS | 651 | (6) | 645 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 53,921 | (53,927) | (6) |
| TOTAL FUNDS | 53,921 | (53,927) | (6) |
6. RELATED PARTY DISCLOSURES
Controlling entity
The charity is under the control of the Trustees named in the Trustees report.
Related party transactions
Donations amounting to £53,921 (2022: £53,300) were received from the Eric Wright Charitable Trust.
7. MEMBERS' LIABILITY
The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
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