| Page | ||||
|---|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, | its Trustees and Advisers | ||
| Trustees' Report |
2-8 | |||
| Independent Auditors' |
Report | on the Financial Statements | 9-12 | |
| Statement of Financial | Activities | 13 | ||
| Balance Sheet | 14 | |||
| Statement ofCash Flows | 15 | |||
| Notes to the Financial | Statements | 16-32 |
| Trustees | C D Morecroft (resigned 7September 2022) | C D Morecroft (resigned 7September 2022) | C D Morecroft (resigned 7September 2022) | ||
|---|---|---|---|---|---|
| H Woolf | |||||
| S L Holmes | (appointed | 7 September 2022) | |||
| SJ Jellyman | (appointed 7September 2022) | ||||
| G Desai (resigned 7September 2022) | |||||
| 0 E Burke | |||||
| A S Hanufi (appointed | 7September 2022) | ||||
| M Throssell | (resigned | 16 May 2022) | |||
| D Dawson (resigned 7 |
September 2022) | ||||
| S Henson (resigned 7 |
September 2022) | ||||
| SAjayi (resigned 7September 2022) | |||||
| J M Hodges | (appointed | 7September 2022) | |||
| D Anderson | (appointed | 7September 2022) | |||
| Company | registered | ||||
| number | 05479207 | ||||
| Charity registered | |||||
| number | 1113382 | ||||
| Registered | office | Aldersley House |
|||
| Pendeford Business Park |
|||||
| Wolverhampton | |||||
| West Midlands | |||||
| NN9 5HA | |||||
| Company | secretary | VTaylor | |||
| Chief executive officer | K Kerswell | ||||
| Independent | auditors | Dains Audit | Limited | ||
| 15Colmore | Row | ||||
| Birmingham | |||||
| B32BH | |||||
| Bankers | Unity Trust Bank pic | ||||
| PO Box1487 | |||||
| Stafford | |||||
| ST163GJ | |||||
| Solicitors | Freeths LLP | ||||
| The Colmore | Building | ||||
| 20 Colmore | Circus | ||||
| Queensway | |||||
| Birmingham | |||||
| B46AT |
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 11months | 11 months | 12months | ||||
| ended | ended | ended | ||||
| 31August | 31August | 30September | ||||
| 2022 | 2022 | 2021 | ||||
| Note | E | F | E | |||
| Income from: | ||||||
| Charitable activities |
1,601,646 | 1,601,646 | 1,792,267 | |||
| Investments | 35,605 | 35,605 | 31,515 | |||
| Total income | 1,637,251 | 1,637,251 | 1,823,782 | |||
| Expenditure on: |
||||||
| Charitable activities |
1,449,955 | 1,449„955 | 1,382,125 | |||
| Transfer ofassets | 3,136,642 | 3,136,642 | ||||
| Total expenditure | 4,586,597 | 4,586„597 | 1,382,125 | |||
| Net (expenditure)/income | before net (losses)/gains | |||||
| on investments | (2,949,346) | (2,949,346) | 441,657 | |||
| Net (losses)/gains | on investments | (90,837) | (90,837) | 72,505 | ||
| Net movement in |
funds | (3,040,183) | (3,040,183) | 514,162 | ||
| Reconciliation of |
funds: | |||||
| Total funds brought |
forward | 3,316,016 | 3,316,016 | 2,801,854 | ||
| Net movement in funds |
(3,040,183) | (3,040,183) | 514,162 | |||
| Total funds carried forward | 275,833 | 275,833 | 3,316,016 |
| 30 | ||||||
|---|---|---|---|---|---|---|
| 31August | September | |||||
| 2022 | 2021 | |||||
| Note | E | |||||
| Fixed assets | ||||||
| Intangible assets |
11 | 20,140 | 31,367 | |||
| Tangible assets | 12 | 939,046 | ||||
| Investments | 13 | 731,395 | ||||
| 20,140 | 1,701,808 | |||||
| Current assets | ||||||
| Debtors | 14 | 244,689 | 300,315 | |||
| Cash at bank and in hand | 100,100 | 1,507,414 | ||||
| 344,789 | 1,807,729 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 15 | (89,096) | (193,521) | |||
| Net current assets | 255,693 | 1,614,208 | ||||
| Total net assets | 275,833 | 3,316,016 | ||||
| Charity funds | ||||||
| Unrestricted funds |
16 | 275,833 | 3,316,016 | |||
| Total funds | 275,833 | 3,316,016 |
| 12months | ||||||||
|---|---|---|---|---|---|---|---|---|
| 11months | ended | |||||||
| ended | 30 | |||||||
| 31August | September | |||||||
| 2022 | 2021 | |||||||
| Note | E | E | ||||||
| Cash flows from operating | activities | |||||||
| Net cash | used in operating |
activities | 18 | (1,405,277) | 412,482 | |||
| Cash flows from investing | activities | |||||||
| Purchase | of intangible assets |
(19,700) | ||||||
| Purchase | oftangible fixed assets |
(10,249) | (24,379) | |||||
| Proceeds | from sale of investments | 447,716 | 450,227 | |||||
| Purchase | of investments | (439,505) | (348,125) | |||||
| Proceeds | from transfer ofassets | 1 | ||||||
| Net cash | (used in)/provided | by investing | activities | (2,037) | 58,023 | |||
| Change | in cash and cash | equivalents | in | the period | (1,407,314) | 470,505 | ||
| Cash and | cash equivalents | at the beginning | ofthe period | 1,507,414 | 1,036,909 | |||
| Cash and cash equivalents | at the end | of | the period | 19 | 100,100 | 1,507,414 | ||
| The notes on pages 16to 32 | form part ofthese financial statements |
| Total | ||||
|---|---|---|---|---|
| Unrestricted | Total | funds | ||
| funds | funds | 12months | ||
| 11months | 11months | ended | ||
| ended | ended | 30 | ||
| 31August | 31August | September | ||
| 2022 | 2022 | 2021 | ||
| E | E | E | ||
| Registration | fees | 1,601,646 | 1,601,646 | 1,784,092 |
| Job Retention Scheme grant | 8,175 | |||
| 1,601,646 | 1,601,646 | 1,792,267 |
| Total | ||||
|---|---|---|---|---|
| Unrestricted | Total | funds | ||
| funds | funds | 12 months | ||
| 11months | 11months | ended | ||
| ended | ended | 30 | ||
| 31August | 31August | September | ||
| 2022 | 2022 | 2021 | ||
| F | E | |||
| Rental | income | 35,605 | 35,605 | 31,515 |
| Activities | Total | ||||
|---|---|---|---|---|---|
| undertaken | Support | Total | funds | ||
| directly | costs | funds | 12months | ||
| 11months | 11months | 11months | ended | ||
| ended | ended | ended | 30 | ||
| 31August | 31August | 31August | September | ||
| 2022 | 2022 f. |
2022 | 2021f | ||
| Direct costs | 1,301,623 | 85,247 | 1,386,870 | 1,382,125 | |
| Restructuring | costs | 63,085 | 63,085 | ||
| 1,301,623 | 148,332 | 1,449,955 | 1,382,125 | ||
| Total 2021 | 1,321,864 | 60,261 | 1,382,125 |
| Total | ||||||
|---|---|---|---|---|---|---|
| Total | funds | |||||
| funds | 12 months | |||||
| 11months | ended | |||||
| ended | 30 | |||||
| 31August | September | |||||
| 2022f | 2021f | |||||
| Staff costs | 877,178 | 922,009 | ||||
| Depreciation | 51,292 | 45,151 | ||||
| Quality | reviewer and external | moderation | costs | 115,761 | 111,624 | |
| Establishment | costs | 182,310 | 169,296 | |||
| Subscriptions | and licence fees | 69,082 | 67,784 | |||
| Annual | bursaries | 6,000 | 6,000 | |||
| 1,301,623 | 1,321,864 |
| Total | ||||
|---|---|---|---|---|
| Total | funds | |||
| funds | 12months | |||
| 11months | ended | |||
| ended | 30 | |||
| 31August | September | |||
| 2022 | 2021 | |||
| Restructuring | costs | 63,085 | ||
| Communications | 25,730 | 14,791 | ||
| Travel expenses | and conference fees | 19,521 | 3,182 | |
| Miscellaneous | 2,291 | 2,466 | ||
| Governance | costs | 37,705 | 39,822 | |
| 148,332 | 60,261 |
| Total | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total | funds | |||||
| funds | funds | 12 months | |||||
| 11months | 11months | ended | |||||
| ended | ended | 30 | |||||
| 31August | 31August | September | |||||
| 2022 | 2022 | 2021 | |||||
| F | |||||||
| Transfer ofassets to Aim Qualifications | and Assessment | ||||||
| Group | 3,136,642 | 3,136,642 | |||||
| Auditors' | remuneration | ||||||
| 12 months | |||||||
| 11months | ended | ||||||
| ended | 30 | ||||||
| 31August | September | ||||||
| 2022 | 2021 | ||||||
| E | E | ||||||
| Fees payable to the charity's | auditor for | the audit ofthe | Charity's | annual | |||
| accounts | 7,500 | 7,200 |
| 12months | ||||||
|---|---|---|---|---|---|---|
| 11 | months | ended | ||||
| ended | 30 | |||||
| 31 | August | September | ||||
| 2022 | 2021 | |||||
| F | ||||||
| Wages and | salaries | 734,846 | 777,748 | |||
| Social security costs | 77,888 | 77,962 | ||||
| Contribution | to defined | contribution | pension schemes | 64,444 | 66,299 | |
| 877,178 | 922,009 |
| 12months | |||||
|---|---|---|---|---|---|
| 11 | months | ended | |||
| ended | 30 | ||||
| 31 | August | September | |||
| 2022 | 2021 | ||||
| No. | No. | ||||
| Average | number | ofemployees | 23 | 24 |
| 12months | ||
|---|---|---|
| 11 | months | ended |
| ended | 30 | |
| 31 | August | September |
| 2022 | 2021 | |
| No. | No. |
| Intangible assets |
|||
|---|---|---|---|
| Website | |||
| development | Computer | ||
| costs | software | Total | |
| Cost | |||
| At 1 October 2021 | 24,999 | 7,200 | 32,199 |
| At 31August 2022 | 24,999 | 7,200 | 32,199 |
| Amortisation | |||
| At 1 October 2021 | 832 | 832 | |
| Charge for the year | 9,028 | 2,199 | 11,227 |
| At 31August 2022 | 9,860 | 2,199 | 12,059 |
| Net book value | |||
| At 31August 2022 | 15,139 | 5,001 | 20,140 |
| At 30September 2021 | 24,167 | 7,200 | 31,367 |
| Freehold | Fixtures and | Office | Computer | ||
|---|---|---|---|---|---|
| property | fittings | equipment | equipment | Total | |
| E | F | F | E | ||
| Cost | |||||
| At 1 October 2021 | 1,194,062 | 87,943 | 5,647 | 68,249 | 1,355,901 |
| Additions | 6,107 | 4,142 | 10,249 | ||
| Disposals | (1,194,062) | (94,050) | (5,647) | (72,391) | (1,366,150) |
| At 31August 2022 | |||||
| At 1 October 2021 | 310,614 | 58,133 | 5,198 | 42,910 | 416,855 |
| Charge for the period | 22,242 | 6,057 | 449 | 11,317 | 40,065 |
| On disposals | (332,856) | (64,190) | (5,647) | (54,227) | (456„920) |
| At 31August 2022 | |||||
| Net book value | |||||
| At 31August 2022 | |||||
| At 30September 2021 | 883,448 | 29,810 | 25,339 | 939,046 |
| 30 | |||
|---|---|---|---|
| 31August | September | ||
| 2022 | 2021 | ||
| E | |||
| Trade debtors | 167,208 | 203,462 | |
| Prepayments | and accrued income | 77,481 | 96,853 |
| 244,689 | 300,315 |
| 30 | ||||||||
|---|---|---|---|---|---|---|---|---|
| 31August | September | |||||||
| 2022 | 2021 | |||||||
| E | ||||||||
| Trade creditors | 24,868 | 38,391 | ||||||
| Other creditors | 10,052 | 8,144 | ||||||
| Accruals | and deferred | income | 54,176 | 146,986 | ||||
| 89,096 | 193,521 | |||||||
| 30 | ||||||||
| 31August | September | |||||||
| 2022 | 2021 | |||||||
| E. | E | |||||||
| Deferred | income | |||||||
| Deferred | income at | 1 October 2021 | 105,781 | 58,454 | ||||
| Resources | deferred | during the period | 105,781 | |||||
| Amounts | released | from previous | periods | (105,781) | (58,454) | |||
| 105,781 |
| Balance at 1 | Balance at | |||||
|---|---|---|---|---|---|---|
| October 2021 E |
Income | Expenditure E |
Transfers in/outf |
Gains/ (Losses) |
31August 2022 |
|
| Unrestricted | ||||||
| funds | ||||||
| Designated | ||||||
| funds | ||||||
| Tangible fixed | ||||||
| assets | 939,046 | (949,295) | 10,249 | |||
| Investments | 731,395 | (640,558) | (90,837) | |||
| Investment in |
||||||
| digital | ||||||
| technologies | 50,000 | (50,000) | ||||
| Building future | ||||||
| closer working | ||||||
| relationships | 50,000 | (50,000) | ||||
| Business | ||||||
| Continuity | 30,000 | (13,085) | (16,915) | |||
| Intangible fixed |
||||||
| assets | 31,367 | (11,227) | 20,140 | |||
| 1,831,808 | (1,664,165) | (56,666) | (90,837) | 20,140 | ||
| General funds | ||||||
| General Funds |
1„484,208 | 1,637,251 | (2,922,432) | 56,666 | 255,693 | |
| Total | ||||||
| Unrestricted | ||||||
| funds | 3,316„016 | 1,637„251 | (4,586,597) | (90,837) | 275,833 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | 30 | |||||
| 1 October 2020 |
Income | Expenditure | Transfers in/out |
Gains/ (Losses) |
September 2021 |
|
| E | ||||||
| Unrestricted | ||||||
| funds | ||||||
| Designated | ||||||
| funds | ||||||
| Tangible fixed | ||||||
| assets | 958,986 | (19,940) | 939,046 | |||
| Investments | 747,891 | (16,496) | 731,395 | |||
| Investment in |
||||||
| digital | ||||||
| technologies | 50,000 | 50,000 | ||||
| Building future | ||||||
| closer working | ||||||
| relationships | 50,000 | 50,000 | ||||
| Business | ||||||
| Continuity | 30,000 | 30,000 | ||||
| Intangible fixed |
||||||
| assets | 31,367 | 31,367 | ||||
| 1,836,877 | (5,069) | 1,831,808 | ||||
| General funds | ||||||
| General Funds | 964,977 | 1,823,782 | (1,382,125) | 5,069 | 72,505 | 1,484,208 |
| Total | ||||||
| Unrestricted | ||||||
| funds | 2,801,854 | 1,823,782 | (1,382,125) | 72,505 | 3,316,016 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 31August | 31August | ||
| 2022 | 2022 | ||
| F | |||
| Intangible | fixed assets | 20,140 | 20,140 |
| Current assets | 344,789 | 344,789 | |
| Creditors | due within one year | (89,096) | (89,096) |
| Total | 275,833 | 275,833 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 30 | 30 | ||
| September | September | ||
| 2021 | 2021 | ||
| E | |||
| Tangible | fixed assets | 939,046 | 939,046 |
| Intangible | fixed assets | 31,367 | 31,367 |
| Fixed asset investments | 731,395 | 731,395 | |
| Current assets | 1,807,729 | 1,807,729 | |
| Creditors | due within one year | (193,521) | (193,521) |
| Total | 3,316,016 | 3,316,016 |
| 12months | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 11months | ended | ||||||||
| ended | 30 | ||||||||
| 31August | September | ||||||||
| 2022 | 2021 | ||||||||
| F | |||||||||
| Net income/expenditure |
for | the | period | (as per Statement | of Financial | ||||
| Activities) | (3,040,183) | 514,162 | |||||||
| Adjustments | for: | ||||||||
| Depreciation | charges | 40,065 | 44,319 | ||||||
| Amortisation | charges | 11,227 | 832 | ||||||
| Gains on investments | 82,626 | (85,607) | |||||||
| Proceeds from the transfer of | trade and assets | 1 | |||||||
| Loss on the | transfer | oftrade and assets | 1,549,786 | ||||||
| Decrease/(increase) | in debtors | 55,626 | (104,578) | ||||||
| Increase/(decrease) | in creditors | (104,425) | 43,354 | ||||||
| Net cash provided | by/(used | in) operating | activities | (1,405„277) | 412,482 |
| 30 | |||||||
|---|---|---|---|---|---|---|---|
| 31August | September | ||||||
| 2022 | 2021 | ||||||
| f. | E | ||||||
| Cash | in | hand | 100,100 | 1,507,414 | |||
| Total | cash and cash | equivalents | 100,100 | 1,507,414 | |||
| 20. | Analysis | ofchanges | in net debt | ||||
| At 1 | |||||||
| October | At 31 | ||||||
| 2021 | Cash flows | August 2022 | |||||
| E | |||||||
| E | |||||||
| Cash | at | bank and in hand | 1,507,414 | (1,407,314) | 100,100 |