Company Resistration Number 05988709 Skills Enterprise Ltd Company Limited by Guarantee Financial Statements For the year ended 31 March 2021 st Charity Number 1120254 Company Reglstratlon Number 05988709
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 CONTENTS Page l) Legal and Administratlve Information 21 Trustees, Annual Report 3-11 3) Independent Examinerfs Report 12 4) Statement of Financial Activities Including Income and Expenditure Statement. 13 51 Balance Sheet 14 61 Notes to the accounts 15-19 Trustees annual report 2020-2021 | www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 LEGAL AND ADMINISTRATIVE INFORMATION Re8lStered charity Name Skills Enterprise Ltd Charity Registration Number 1120254 Company Registration Number 05988709 Registered Office BDnny Downs Church Centre 18 Darwell C105e East Ham E6 6BT Trustees Mr M 5 Abdeen Mr G D Kulothungan MrAJ Marri Mr B Rajendran Mr A M Zack3rla Independent examiner Brian DexterACMA, CGMA. 172 Sandford Road East Ham London E6 3PX Bankers HSBC Bank plc 118 Hlgh Street North London E6 2HX Trustees annual report 2020-20211 www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Flnancial Statements Year Ended 31st March 2021 TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDING 31st MARCH 2021 The Trustees, who are also directors for the purposes of company law, present their report and financial statements of the charity for the year ended 31st March 2021. The accounts have been prepared In accordance with the accounting policles set out in the notes to the accounts and comply with the charities Act 2011 and the SORP IFRS1021 'Accounting and Reportlng by charities" issued In March 2015. STRUCTURE AND GOVERNANCE Skllls Enterprise Llmited is ? registered charlty111202541 and a company limited by guarantee1059887091. It is governed by its Trustees who are also Directors and meet regularly to manage its affaSrs. Company and charity law requires the Trustees to prepare flnanclal statements for each financial year whlch give a true and fair view of the state of affalrs of the charlty and of the surplus or deficit of the charlty for that period. In preparing these fillanclal statements, the Trustees have.. Selected suitable accountlng policies and then applled them consistently Made judgements and estimates that are asOnable and prudent Stated whether applicable accounting standards have beerk followed, sublect to any material departures dlsclosed and explained in the financial statements,. and Prepare the financlal statements on the going concern bas1S. The charity has a core of employed staff, but It also relies upon the services of a pool of community and diEltal champion volunteers for the delivery of its services. Day to day organlsational decisions are delegated to the Project Manager. The Trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, financi31 and otherwise. They are responsible for keeplng proper accounting records which disclose with reasonable accuracy at any tlme the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act, Rlsk The Trustees have elven due consideration to the major risks to which the charity is exposed, and are satlsfied that 5YStems, policies and procedures are in place to mitigate exposure to major risks. CHARITABLE OBJECTIVES AND ACTIVITIES Whowe are and what we do Skills Enterprlse is a vibrant community organisation, providlng a wlde range of services and opportunities for local people for all ages offering training, welfare benefits advice and guidar¢ce, money management advice, Trustee5 annual report 2020-20211 www.skillsenterprise,co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 employment-oriented trainirng support project, Job search clvb, di8ltal incluslon project and Volunteering project5. The organisation provides a resource for the local community in East Ham ward in the London Borough of Newham, while also delivering borough wlde seyvlces. We want to combat the challenges arlsing from deprivatlork and social exclusion in the local community through a range of high-quality advice and advocacyj social, educational, healthy living and recreational programmes. In all we do, we aim to break down barriers and reduce i501ation, enabling access to learning, training and opportunities, empower1*g people to reach thelr goals. Our Vlsion Our vlsion 15 to achieve increased social harmony and equality by empowering individuals and communlties through the vehlcle5 of education, economlc independence, awareness and providing them with a stronger voice. Misslon Statement Our mission is to eliminate the barrier5 that lead to social exclusion and poverty. We worl( with people of all faSths, ethnicity and backgrounds to build stronger, more cohesive communitles. Publlc Benefit The actlvities detailed below have all been undertaken to further the Charity's purposes for the publlc benefit. In shaping and plannlng the activities for the year, Trustees have considered the Charity Commission's guidance on publlc benefit. Skllls Enterprise regularly consult5 and actively seeks feedback and suggestions from its beneficlaries, volunteers, partners and supporters, We seek to help people to develop essential skills necessary to improve the quallty of their live5 and of the local community, enabllng access to learningi tralning and soclal opportunlties, empowerlng people to reach their 8oals. In all that we do, we alm to break down barriers and reduce i501ation, worklng with people of all faiths to promote understanding between all section5 of the local communitv. Main artivltles At Skills Enterprise we believe that our strength lies in our diversity, meetlng the need5 of local people, our local commLJnity and supporting local community's aspirations. A malor area of our work aims to help people develop essential skills necessary to improve the quality of thelr lives and of the local community. We also aim to promote understanding between all sectlons of the local community, offering a setting for multlcultural, interfaith and intergenerational exchange through our services. We continued to provide a wide range of interventions, actlvities and support to further our purpose for public benefit within 4 main areas: Volunteerfng Skills Communlty Engagement Development Health & Wellbeing Crisls Support Employment Support Trustees annual report 2020-20211 www.sklllsenterprise.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 ACHIEVEMENTS AND PERFORMANCE COVID-19 Impact Coronavirus (COVID~191 has changed the world. Digital has instantly become a universal need, and those wtihout it are also those who have been hardest hit. Lockdown has exposed the cost of di8ltal exclusion more clearly than ever before, and this cost is set to continue as the UK economy faces its bigeest ever challenge. Digital inclusion was already Important: now it 15 fundamental. The impact of COVID-19 has been devastating for the already vulnefable communitles that we work with who previously struggled wsth health, financial, employment and other social and economic issues and have experienced one of the hlghest levels of COVID-19 case5 and deaths in the country. In addition. the enforced social isolation exacerbated their anxietles arising from lack community engagement, primarily due to cultural and other barriers. The period of Intense isolation due to lockdown heightened exclusion, partkcularly di8ltal exclusion wlth thelr lack of digital skills, access to digitsl devices and lack of resources to pay for data. During lockdown we experienced at least a 50% increase in demand for our senrices With the focus shifting more recently to help with digital awareness and access to digitsl tools and 5ki115 tralning. We provided addltional servIS including digltal device give away. signlflcant increase in support for recently unemployment people and those needing to access benefits for the first time,. emotional help for women revealing domestic abuse; help and tralning with acce55 to support and resources throu8h digital channels. Our income dropped as we were unable to deliver our Electric Exam that helps us gene¥ate unrestricted income. We sought external help with fundraisin8 to secure COVID-19 support funding. This has been short term and we now need to focus on sustaining our work and organisation for the longer term. Since thestart of lockdown our work has included.. 1432 unique people reached dlrectly 21 partner organisations 29 digital champions trained We ran weekly sessions for local people who are resldent5 of London Borough of Newham, with a particular focus on the local communities. We delivered a variety of different projects, actNities and sessions/services which included.. Em ent Su ort Career advoca and uldan¢e COVID-19 have put many of our users and local resldents at risk of permanent layoff. temporary furlough. and reductlons In hours and pay; almost half of these workers earn less than £10 per hour. We offered assistance with understanding furlough, career adve, Job search, CV and online intervlew guidance and trnining. provlding aCsS to job orlented training. Remote delivery of learning 5UPI)ort with digital skllls. English language learning, and digital ski115 for remote working. SIPèEe Trustees annual report 202(k20211 www.ski11senterprise.co.uk
SKILL5 ENTERPRISE LTD Flnancial Statements Year Ended 31st March 2021 Our Employment Support, career und guidance work supported.. 121 users to search and apply for jobs online and employment supporl 20 people with Advanced Employment oriented Online digital skills 39 Homeless and vulnerably housed users to gain employment support 21 people to galn employment as a result of our guldance 21 users to access the Job Retention Scheme or Self Employment Income Support Scheme Welfare beneflts uidance focuslng especlally on Unlversal credit, housing and utility. We get referrals from Food banks, Job centre, Places of worship5, Newham food Alliances to help users with their welfare guidance. Making or managing a Universal Credit appllcation online has been crucial to many. Over half155%1 of our attendees included accessing Universal Credit a5 one of the top three reasons a servlce user would 80 online the same proportion as contacting friend5 and family. The surge in Universal Credit applicatlon5 Put considerable pressure on calls to our centre at a time when face-to-face support from Job Centre Plus was unavallable. People faced long waits by phone; and even queues to log into the webslte. We had 89 course starts fof Unlversal Credit at April 2021, as new universal Credit claimants trying to understand the system. 189 users supported with Universal Credit Online appllcations 16 users signposted to Debt advice Skllls Develo ment DI Ital Inclusion and Creative En Ilsh Internet access has not been a cure-all for the problems created by COVID-19, but it has helped, as evidenced by significant increases in onllne activity. 80% of our users agree that using technology has been a vital support to them. Lockdown has shown more clearly than ever that 'digital excluslon, means more than being offline or havlng absolutely no digital skills. Lack of personal access to suitable devices and data poverty have come to the fore. People who are digitally excluded through poverty may rely on using devices and Wi-Fi in shared spaces - no longer available. During the COVID-19 crisls and lockdown, we worked with residents of whom nearly 62% lacked basic digltal slcills and more had limited acces5 to the internet or no broadband at home. Increasing numbers had no tablets or laptops and lacked sufficient income to reliably connect to the internet- which created barriers to accesslng the help or resources they needed. We sought help from fullders and the Council to dlstribute tablets and data and software packages to residents/ families most in need. We used text, Whatsapp, phone calls and then Zoom to provide some level of digltal skills training which users fed back had increased thelr confidence. We were commissioned by the Council to be lead organisation for the Newhan) Digital Hub. We were able to see how our dlgital training supported residents In becoming empowered In dlfferent ways- to gaill baslc online skills, to get online as well as through more advanced training to into employment. Total users given basic onllne digital sl(ills'. 815 206 learners upskllled to independently use HMRC'S digital services 39 users completed Crèative English training 68 elders learned basic oiiline skills reducing barriers to digital exclus1011 162 devices given away 9 online safety awareiie55 workshops benefitting 54 residents and parents Trustees annual report 2020-2021 | www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 S oken wrltten and creatlve En Ilsh Classes were also offered alon8 With supporting users with digital trainlng. This fresh appro?ch to English language learning, focused on supporting adults with no or low levels of English to better integrate with thelr local communitles. A llew Creative English prolect was delivered both online and face to face. Communlt Coheslon: provided p051tlve and ensaging activlties that created a sense of belonglr¢g and community conneclion. With ten51ons rising due to BREXIT, racial tenslon following BLM profile ralsing we delivered 'Know your EU citizens, social 5es51ons, European focused community activities, Black Hlstory Month, UK parliament week celebrations and other cultural celebratlons and cooking and social events online. Usine remote channels Iphone and digitall to check on socially isolated and lonely people, and distributing devlces was key to help bring communitles together and promote social inclusion. 29 users attended See It Differently 8 community celebrations with 341 unique people attending 29 volunteers and Digital Champions 3 staff gaining safeguardlng training. Social cultural events Interfaith and other celebratlons were delivered online, inviting local councillors and our MP to ovr event. For example, we celebrated all religlous events like Christmas, EID, Dewali Cinema together events, community breakfasts. Exercise. health and wellbeing activities were also delivered online. Other multiple strand services Youn eo le dl Ital 5kllls develo ment: During lockdown we offered children and young people something fun to do, as well a5 a 3D digital technology and entrepreneurship trainirkg and coding and technology skills to help them learn simple computer game development usin8 web start up langvages Ilke HTML, CSS then PYTHON. 21 young people gained access to Tech and Entrepreneurship club (Animatlon, codingj 3D design clubl Health and DI ital Partlcl ation-. The abillty to access online health advlce has become especially important during the pandemic not only to stay safe and up-to-date about COVID-19 but to manage other health concerns. The letter sent by the NHS to those at higher risk of COVID-19 complications contained multiple links to online information and support to cope wlth self-isolation, in most cases Wlth no equivalent offline alternative. It is e5tlmated that between 175,000 and 500,000 people who received thls letter do not have access to the internet. Our response to this was to help users access digital health services e.g. GP online, prescriptions online and also trained users to navigate NHS website. We made daily calls to our u5er5 to monitor thelr health and wellbeing, as well as offerlng additional support including food deliverles lacce5S to Newham Food Alliance digitally), prescription5 ordering and online learning- about COVID vaccination awareness workshop in partnership with Newham council. Supported 21 users to access onllne resources to improve their wellbeing (NHS slte. Supported 19 users to access health Information/ health services online le.R. book a GP appolntment, prescriptions) Trustees annual report 2020-2021 | www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Financlal Statements Year Ended 31st March 2021 Pover Res onse Consortlum: As a consortium partner with Bonny Downs Communlty Association, Newway Night shelter as well as the Salvation Army, we delivered Employment and lob search support and ICT training to Support the New Day Centre for homeless and vulnerably housed people in Newham until May 2020. Newham Antl-Povert Alllante: The Anti-poverty Alliance brlngs together organisations and indlviduals from acr055 Newham to tackle the causes and effects of poverty in the borough. The call to action is that every resident is able to access the sUPPOrt they need to prevent financlal hardship. We are part of this alliance and are 3ble to contrlbute to areas like • Money/ debt . Housing/ homelessnes5 • Skillsl employment • Wraparound family/ people support having an opportunity to provide Input into these priorities and become involved as a partner within the Alllante. Social Welfare Alliance: Newham Social Welfare Alllance Trainlng Programme contlnuing to offer a trairblng development pathway for all frontline workers In the borough who are regularly having conversation5 Wlth residents who are presenting wlth a range of soclal welfare Issues. There are a number of themes with different session topics included delivered by our specialist tutors. The purpose of this Is to enhance the skills resident5 already have and faci1State them gettlng in touch wlth others having similar conversatlons across the borough. The trainlng sessions are all delivered online and are free to attend. Skills Enterprise delivered workshops that will help frontllne worl(ers in Newham support residents to become digitally able and to provide information on how and where to refer for additional support. We cover.. • The importance of Digltal Inclusion & Wellbeing How we can all be Digital Buddles . Newham's Digltal Hubs & online learnlng resources. EU Settlement Su ort.. Stay Settled in Newham The EU Settlement Scheme, (taking account ofl residents, issues after the 30 June 2021 deadline, and how Newham Council can address them in partnershlp with the Voluntary and Community Sector. With Newham Renewal project as lead organlsation- funded by Newham Council we are one of 10 consortium partners to deliver an awareness-raising project on the EU Settlement Scheme IEUSSI to vulnerable residents. The first of Its kind in the borough, the campaign, known as 'Stay Settled in Newham, adopted è pioneering approach to engaging over 1,000 residents and over 200 Ioc31 community, faith and volLJntary organisation5, deliverlng 64 in person and online events, and guiding over 300 resldents through their EUSS applications in the 10 weeks before the Scheme's deadllne. 32 users guided to apply EU Settled status online Feedback from Beneflciaries From some of the feedback from our beneficiaries and monitoring of our work we can report that.. 49 % reported being In a positive mental state (good moods, sat15faction with life, happy, etc.) after attending our services 42Yo reported increased income 69% reported Increased skills 72Yo says having supportive soclal connections 59Yo Improved personal and social skills Trustees annual report 2020-2021 | www.skillsenterprlse.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 71% An increased sense of confidence and Independence in participants by feelng valLted as members of their local communitv. 67% Participants to have an increased sense of purpose and belongIg "They saved my life und myfumily. W(ys so desperate with out income" "Skills Enterprise mt7de me understund that berng onllne is not justfor young people itsfor older people like me" "Staff in the teJm has been so welcoming. Very supportive to ull people ond they treot everyone us ufamlly Irrespective Df buckground-. "f you're going to groups like this, you huve more In common. I thlnk I know my nelghbour a lot better now.. hey helped me opply onllne ond olso helped me to send the documents to the EU Settlement. They were frlendly and took tlme to explain the process ond also helped apply settles Stotusfor both of my children. I did not know how to take digitalphoto and they helped me tuke picture5 and upload it to my appllcation. They re(yd everythlng on the website and expl(yined it to me clearly. l om very thankful to Skills Enterprlsefor helping me in G+ very short time". Support from Funders and Partners We would like to thank our funders and partners for working with us to make a difference to the qL¢ality of life for of often marglnalised, vulnerable and isolated local residents: without their support, Skills Enterprise simply could not contlnue to achleve our aims and oblectlve5. Funders.. London Borough of Newham, Good Things Foundation, Greater London Authority, The Mayor's Office , East End Communlty Foundatlon PTC Colours I Power To Charbgel CAF Tourle Foundation, Charity Aid Foundation, City of London, Certsure LLP, The National Lottery Community Fund, Groundwork, Comic Relief, Lifeline., Faith Action, Natlonal Lottery The Charitie5 Trnst , Lloyds Bank Foundation, Independent Age , Fore Trust, Peoples P05tcode Lottery, In additlon, we are grateful for the support and opportunity to who very work closely with organisations like Department of Works and Pensionsl Job Centrel, Bonny Downs CommL¢nity Assoclatlon, Bonny Downs ChLirch, Alternatives, Magpie, Newday, Tracey Fletcher Consultingi Certsure LIP, Digital Unlte, Mind in Tower Hamlets and Newham, Computer Ald, Inkind, Salvation Army, East London NHS Foundatlon, Vicarage primary School, Central park School, Kensington Academy, local East Ham temples, Mosques, Churches, Department of Work5 and Pensions- Job Centre, Compost, One Newham, Business in the Community, ELBA, Community Linl(s, Trinity Centre, SUBCO, Royal Docks learnir¢g and activities centre, Newham Renewal programme, New Europeans UK, Work Rights Centre, Citizens Advice East End, Clvic, Start Now CIC, The Design Cabin, WHTV, Cle8n Slate, Money A and E, Roma Support Group, Heal Together, Shpresa, plaistow South local big, Google Digital Garage, FCA, UCL, Blrkbeck, Unlverslty of London, Greenwlch University, Newham Food Alliance and Social Welfare Alliance. "We have recognised the unique skllls of Skills Enterprlse ond now work in partnership to work wlth our most vulnerable resldents (Jround dlgital inclusion" Phil Veosey, Publlc Health Consultant, LB of Newhum Trustees annual report 2020-2021 | www.5klllsenterprise.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 AFFILIATIONS AND MEMBERSHIPS We continually look to Improve the quallty of work through trainingi accreditations and membershlp or affiliation to relevant bodies wlthin the sector. These currently include.. Digital Unite Member UK Online Accredited Centre CMA Accredited Debt Advlsor staff Advice UK Member ROPES Iolder People Employment Support) Certificate of Speclallst Network Membership-Housing and Homelessness Network Certlficate of Specialist Network Membership-Employabillty Certificate of Specialist Networli Membershlp-ESOL Certificate of Speciallst Network Member5hip-Iqealth and Wellbein8 Member of Money Gulders Network School Home Support- Member Refugee Employment Network IREN} membership London Youth Member GOING CONCERN The Trustees have been meeting regularly to monitor Skllls Enterprise's fir¢ancial position. At the end of March 2021 we had unrestricted reserves of £64,462 whlch represents approximately 4 months of expeTrditure. We had revised down expectations for grant income for the 2021-21 financial year in anticipation that income wlll be down, However, at the time of writing thls report in the third quarter of 2021-21 we have achieved greater income than expected, thanks to the support of many trusts and other grant bodies who rnade new streams of funding available to meet the iTrcrea5ed demand and severe impact of the pandemic on the communlties whom we serve. Our current flnanclal forecast runs until the end of March 2023. It 15 based on cautious income assumptions and shows that the reserves we expect to have at the end of March, we are a going contrrn. PLANS FOR FUTURE PERIODS In the coming year our work will continue to focus on the contlnued impact of the COVID-19 pandemic on residents, particularly adults, famllles arkd childrenlyoung people from Black, Asian and other minority communlties, whom we predominantly serve. We will therefore continue to Join forces with Newham based charities, community centres, Council departments and others to make sure no Newham resident nor child in our area are suffering In low Income, poverty ar lack of digital skllls, support or access and that no-one Is forced to sleep rough on our streets. We will give priority to.. Trustees annual report 2020-20211 www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 Stronger focus on dlgltal Inclusion The pandemic shone a Ilght on the extent of digital exclusion locally. We need to contin4Je our digital inclusion work 50 resldents can better access the SL¢pport and services available them, We also want to continue training residents as digital champions so they can train others who may be digitally excluded. We wlll also focus on training community groups to develop their skills so they can help local resident5 to access onllne support and service and develop thelr dlgital awareness and skills too. Adequate Accommodation Our current base, whilst central to the community, is too small to Meet the increasing demand for support and services from residents and other communlty groups that we do and want to partner with. Finding more Spacious but easily accesslble premlses wl11 be a top prior1ty for the year. Sustalnlng our services to meet current and emerglng needs. Securing much needed funding and developing oL¢r digital inclusion work and training whilst undertaklng research to gather insights on the Impact of COVID-19 and future needs of users. Bullding our capacity to enable 5UStainable growth -comlng out COVID-19 perlod Our priority will be to develop our fundraising efforts to ensure we Secure new and unrestricted Income to sustain our work longer term. FINANCIAL REVIEW Reserves pollcy Skllls Enterprise Is working towards a Reserves Policy of the equivalent of 6 months running cost5 to serve as a safeguard against any unexpected shortfall in income or increase in expenditure, which will vary from year to year. Based on plans for 2021122, 55x months runnlng costs will equal £98,000. As 8t 31 March 2021 our total reserves stood at £141,835. Deducting Restricted Funds and the value of fixed a55ets leaves free reserves at £64,462. This15 below the target level, Trustee5 are content with this position but due to the organi5ations Erowth are looklng to review the reserves policy to ensure it Is appropriate for the current situation, in the meantime they continue to look to make decisions to make vp the shortfall. Signed f of the Trustees Direttornrustee date: IA DecAmb4Y aoal IVI uKLUnrrtea Sk&kiY 11 Il) ¥1 ky www.skillsenterpri5e.co.uk Trustee5 annual report 2020-2021 |
SKILLS ENTERPRISE LTD Financial Statement5 Year Ended 31st March 2021 Independent Examiner's Report to the members of Skills Enterprise Ltd I report on the accounts of the charity for the year ended 31st March 2021, which are set out In the followlng pages. Respective responslbllltles of trustees and examlner The trustees ayè responsible for the preparation of the accounts. The trustees conslder that an audlt is not requlred for this year under section 144121 of the Charities Act 2011, "the 2011 Act. and that an Independent ¢xamlnation Is needed. Havlng satisfied myself that the charlty Is not subject to audlt under company law and Is ellglble for independent examination, It is my respon5iblllty to: Examine the accounts under sectlon 145 of the 2011 Att.. To ftrllow the procedurè% laid down In the Èeneral directlons given by the Charlty Commi551on unde¥ section 14515llbl of the 2011 Act,. and To State whether particular matter5 have come to my attenllon. Basls ol Independeni examlner's report My examlnation was carr1ed out In accordance with the general Directlons glven by the Charity CL)mrnlsslon. An examination Include% a review of the accountlN£ records kept by the ¢harlty and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures In the accounts, and seeking explanatlon s frorn you the trustees concerning any such matters. The procèdures undertaken do not provlde all the evidence that would be requlred In an audlt and consequently no oplnlon Is given as to whether the accout)ts present a 'true and fair VI and thè report Is Ilmited to those matters set out in the statement below. Independent examlner'5 Statement In connectlon with my examlnatlon, no matter has come to rny attentlon.. lal which g¥ves me ie8sonable Cause to belleve that In any materlal respect the requlrements.. To keep a¢countlng records In accordance wlth section 386 of the companlès Act 2006,. and b. To prepare accounts whlch accord with the accounting records, comply th the Charltles Act 20118nd the SORP IFRS1021 Accounting and Reportlng by Charitles IssuÉd1n March 2015. have not been met, or Ibl To whlch, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Brian Dexter Charterèd Management Accountant 172 Sandford Road East Ham London E6 3PX Dated. I Trustees annual report 2020-2021 | www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Financlal Statements Year Ended 31st March 2021 STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Restricted Funds Funds Total 2021 Total 2020 Note Income and Endowments from Grants, Donations and Legacies £ 32,694 £ 243,637 £ 276,331 £ 103,076 Total Incomlng Resources £ 32694 £ 243 637 £ 276 331 £ 103 076 Ex endlture on: Raising Funds Charitable actlvitles Tralning activities £ 1,749 £ 192,751 £ 194,500 £ 84,825 Total cost of Charftable activltles £ 1,749 £ 192,751 £ 194,500 £ 84,825 Other costs 495 £ 1,275 1,770 £ 1,294 Total resources expended Netrnovementlnfund5lbeforeTransfer5} £ 30,450 £ 49,611 £ 80,061 £ 16,957 Transfers between funds 2,244 £ 194,026 £ 196,270 £ 86,119 Net movement in funds Reconciliatlon of Funds., Fund balances I, April 2020 £ 30450 £ 49611 £ 80061 £ 16957 £ 35,812 £ 25,962 £ 61,774 £ 44,817 Fund balances 31st March 2021 141 262 UL573 LL35 £ 617 This statement of financial activities also complies with the requirements for an income and expendlture account under the Companles Act 2006. It include5 all gain5 and losses in the year therefore a statement of total recogn15ed gains and losses ha5 not been prepared. All of the organisatlOn'5 operatlons are classed as contlnuing. Trustees annual report 2020-20211 WWW.5klllsenterprlse.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 BALANCE SHEET AS AT 31 MARCH 2021 Note 2021 2020 Fixed Assets Tangible Fixed Assets Current Assets Debtors & Prepayments Cash at bank or In hand £ 173 447 £ 173,447 £ 64,243 Creditors: arnounts due withln One year £33412 Net Current Assets £140 035 £ 58448 Creditors: amounts falllng due after more than one year. Net Assets 83 Income Funds Restricted Funds General Funds Total Funds £ 75,573 £66262 £ 25,962 £ 35812 For the year ended 31 March 2021 the charity was entitled to exemption from Audit under section 477 of the Companies Act 2006 relating to small companles Trustee Declarations The members have not requlred the charity to obtain an audit of its account5 for the year in question in accordallce wlth section 476,. The trustees acknowledge their responslbillties for complying with the requlrements of the Act with respect to accountlng records and the preparation of financial statements These flnanclal statements were approved by the members and authorised for issue on l &-IL-Lland signed on their b Ifbv rustee Irector and Trustee M uhamma A6doon bo lu Ra jAndY4Jrt Trustees annual report 2020-20211 www.skillsenterpri5e.co.ul(
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st March 2021. Accountlng Pollcies Basls of preparation The accounts have been prepared under the lilstorlc cost convention. The accounts have been prepared In accordance with appllcable accounting Standards, the Stateiment of Recommended Practice- Accountlng and Reporting by Charities Issued March 2005 and updated May 2008, and the Charitles Act 2Qll. Fund Accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in the furtherance of the general objects of the charity and whl¢h hève not been designated by the trustees for other purposes. These funds are held to finance both working capital and capital investment, Incomlng Resources Incomlng resource5 are credited in the accounts when they are receive(I, except that: Income tax recoverable on Glft Aid donations is credited at the same time as the related donation. Grants and Donatlons are only included In the SOFA when the charity has unconditlonal entitlement to the resources Performance related Grant income 15 only included In the SOFA once the related goods and services has been delivered Volunteer Help is not included In the accounts as its value ¢annot be measured with sufficient rellability, but it is described in the trustees, annual report. Resources expended Liabillties are recognised in the accounts at the tlme when a commitment to make payment Is incurred. Governance costs include the preparation and examinatlon of statutory accounts, cost of trustee meetings and any legal advice to trustees on matters of governance Tagile fixed assets and depreciation Tanglble fixed assets are stated at cost less depreciation. Depreciation Is provided at rate5 calculated to write off the cost5 less estimated residual value of each asset over its expected useful life, as follows: Flxtures, flttings and equipment Computer Equipment 25% p.a on reduclng balance. 25% p.a on reducing balance. Trustees annual report 2020-2021 | www.skillsenterprlse.co.uk
SKILLS ENTERPRISE LTD Financlal Statements Year Ended 31st March 2021 NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31st March 2021. 2. Voluntary Income Current Year Unrestrlcted Restricted Funds Funds Total 2021 Total 2020 Donations, Grants and Legacies General Funds Bonny Downs Baptist Church Onyx Certsure LLP Employment Support East End Community Foundation PTC Colours City of London ESF Groundwork Welfare Guidance The National Lottery BDCA NEWway CAF Skills Development Good Things Foundation LBN Comrnunlty Cohesion The Charltles Trust Volunteers and Support Lloyds Foundation Young People The Mayor's Office Older People Independent Age Multlple categories Bulldo8 Trust Lloyds Foundation Lifeline Community Total £ 7,400 £ 2,023 413 £ 7,400 £ 2,023 413 £ 8,718 £14,471 £24,842 £25.100 £ 3,668 £14,471 £24,842 £25,000 £ 5,379 £ 1,711 £ 44,047 £ 15,759 £ 2,817 £ 8,810 £ 44,047 £ 15,759 £ 2,817 £ 13,790 £ 12,263 £ 11,074 £ 4,980 £ 4,980 £29,825 £ 2,424 £ 29,825 £ 13,024 £ 28,906 250 £ 10,600 £ 5,000 £ 5,000 £ 5,567 £ 8,901 £14,468 £ 11,503 £ 11.503 £ 11,470 E 11,470 £ 15,000 £ 20,000 £ 15,000 £ 20,000 32 33 1611, Trustees annual report 2020-2021 | www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 Prlor Year. Unrestrlcted Restricted Funds Funds Total 2020 Total 2019 Donations Grants.. Good Things Foundatlon Awards for All CAF Tourle Foundatlon Peoples Postcode Lottery Certsure LLP Transform Newham Greater London Authority LBN ILGTPSI Newham.net NEWway Lifeline Community BDCA Aspers Good Cause fund Total 453 £28,453 £ 9,762 £ 4,980 £13,123 £28,906 £ 9,762 £ 4,980 £13,123 £ 9,328 £ 28,687 £ 9,360 £ 9,328 £ 8,718 £ 10,000 £ 4,977 250 £ 4,977 250 £ 2,413 £ 2,413 £11,074 £ 6,000 £12,263 £ 6,0(M) £ 11,074 £ 5,000 £ 11,888 £ 1,000 375 £ 2.560 £ 73 Funds from Newham.net received from the company a5 It was wound up under an agreement that funds would be used to fund young person digital activlties. 3. Other Costs Unre5trlcted Restrlcted Funds Funds £250 Total 2021 Total 2020 £ 250 £ 131 £ 613 £ 300 Governance.. Independent Exam Bank Charges Insurance Accountancy Fees Total Governance costs £ 250 £ 30 £ 720 £ 770 £ 30 £ 720 £ 555 £ 215 1711, Trustees annual report 2020-2021 | www.skillsenterprise.to.uk
SKILLS ENTERPRISE LTD Financlal Statements Year Ended 31st March 2021 NOTES TO THE FINANCIAL STATEMENTS (Continuedl FOR THE YEAR ENDED 31st March 2021 4. Net Incomlng Resources for the year This is stated after charging,. Depreciation 2020 2020 58 5. Payments to Trustees No salaries or wages nor expenses have been paid to the members/trustees during the year. 6, Tangible Flxed Assets Fixtures Computer Equipment Total & Fittings Cost As at I" Aprll 2020 Additions Disposals As at 31st March 2021 330 £ 15,254 £ 15,584 330 £15254 £15 584 Accumulated Depreclation As at I" April 2020 Charge for year On disposals As at 315t March 2021 286 £ 11,972 1,515 £12,258 £ 1,526 li 297 £ 13487 £13784 Net Book Value As at 31st March 2021 As at 315t March 2020 7. Creditors- Amounts falllng due wlthin one year 2021 £ 4,642 £ 2,804 £25966 2020 Defered Income Taxation and social securitv Trade Creditors and Accruals Total £ 4,816 £ 979 Trustees annual report 2020-2021 | www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 8. Capital commitments At 31st March 2021 the Charity had no capital commitments12020 Nill. NOTES TO THE FINANCIAL STATEMENTS {Continuedl FOR THE YEAR ENDED 31st March 2021 9, Restricted Income Fund5 Balance Income Outgoing Funds Balance at l Aprll 20 Resources resourees Transfers 31 March 2021 Current Year Employment Support Welfare Guldance Skills Development Cornmunlty Coheslon Volunteering Support Young People Old People Multiple Strands £ 4,467 £ 14,416 £ 1,879 £ 68,081 £ 67,134 £ 71,433 £ 70.015 £ 32,249 £ 5,487 £ 5,000 £ 4,715 £ 8,901 £ 8,901 £ 11,503 £ 5,044 £ 11,470 £ 11,470 £ 35000 £ 21260 63 19 £ 5,414 £ 15,834 £ 28,641 285 £ 6,459 £ 18940 £75 96 Prior Year Balance Income Outgoing Funds Balance at 1st April 20 Resources resources Transfers 31 March 2021 Employment Support Welfare Guidance Skills Development Community Cohesion Multiple Strands £ 1,147 £ 2,687 £ 5,898 £8,902 £ 4,977 £ 1,657 £37,704 £ 25,975 £28,453 £ 32,472 250 £ 9,152 £18123 £ 12923 18 50 17 For description of the variou5 funds detailed above please see the Trustees report on activlties and achievements during the year. £ 4,467 £ 14,416 £ 1,879 1911, Trustees annual report 2020-2021 | www.skillsenterprise.co.uk
SKILLS ENTERPRISE LTD Financial Statements Year Ended 31st March 2021 10, Analysi5 of net assets between funds Unrestrlcted Fund5 £ 1,809 £ 65,112 650 Restricted Funds Total £ 1,800 £173,447 Tangible Fixed Assets Current Assets £ 108,335 Creditors Total 75 11. Employees During the year the charity had one12020,' two) full time employees and five12020: three) part time employees. The total employment cost was £118,27912020 £64,952). 2021 2020 Gross Salaries ER NIC ER Pension costs Total £ 111,Q79 4,928 £60,106 £ 3,940 906 £ 118,279 £64,952 Skills Enterprise makes defined contributions payments to an auto enrolment pension scheme where the employee qualifies for auto enrolment. Trustee5 annual report 2020-20211 www.skillsenterprise.co.uk