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2022-03-31-accounts

Charity number: 1123559

Company number: 06496769

(England and Wales)

ABC Training Trust

Report of the Trustees and Unaudited Financial Statements

For the year ended 31 March 2022

ABC Training Trust Contents Page For the year ended 31 March 2022

Report of the Trustees 1 to 4
Independent Examiner's Report to the Trustees 5
Statement of Financial Activities 6
Statement of Financial Position 7
Notes to the Financial Statements 8 to 15

ABC Training Trust Report of the Trustees For the year ended 31 March 2022

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 March 2022. 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

ABCTT strategic objectives:

"To develop climbers through quality coaching." The ABC Training Trust seeks to provide a syllabus for climbers to use on artificial climbing structures for both climbing and bouldering, and to support this syllabus by supporting coaches and structures in best practice.

The principal objectives of the charity are to:

·Promote safety and community participation in healthy recreation and sport.

·Advance the education of the public with a non-exclusive focus on climbing and associated activities by in particular (but without limitation to) providing a nationally recognised accreditation scheme to individuals participating in climbing on artificial climbing structures.

·Provision of such facilities or items for education at school (not provided from statutory funds) as the board shall from time to time determine.

The Trustees have had due regard to the Charity Commission guidance by developing an ongoing strategy to maximise support and knowledge of the National Indoor Climbing Award Schemes and in particular they have considered how all the charity's activities will contribute to its charitable aims and objectives.

The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

The Trust has carried out its objectives through the NICAS schemes in accordance with the objects of its governing document. It has introduced over 175,000 people to indoor climbing and coached their development in the sport in a structured manner. It has advised and trained staff from many climbing centres in coaching techniques as well as promoting the benefits of the sport to the general public. The Trust has also liaised with other national governing and training bodies to develop a coherent national coaching structure in the sport. The implementation of the moderation process has ensured the quality of the delivery of the NICAS schemes to the candidates. The introduction of additional complimentary schemes further expands the reach and impact of the ABCTT in achieving its charitable aims. The variety of schemes offered enables access to climbing for a wider range of people.

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ABC Training Trust Report of the Trustees Continued For the year ended 31 March 2022

ACHIEVEMENTS AND PERFORMANCE

This financial year saw the restrictions that disrupted the day-to-day climbing activities of the Covid pandemic diminish during the first half of the year; with 17th May seeing indoor venues re-open and 21st June all limits being removed. The sector demonstrated significant restraint during Q1 and Q2 as accredited centres sought to rebuild their coaching and staffing structures. Q3 & Q4 turnover rebounded strongly to enable our products to exceed our pre-Covid position on a full year basis.

Emergence from the Covid era has delivered many insights influencing our business and the wider sector:

·Indoor climbing is at the beginning of a golden decade where participation is booming

·Our business can respond satisfactorily to economic shocks and maintains a lean cost base

·The ABCTT Board has implemented a long-term growth strategy to support walls and coaches, and to facilitate new participants

·New products, territories and routes to market will enable the business to spread risk more effectively

We continue to work closely with Sport England, Sport Scotland and Mountaineering Ireland where practicably possible to increase participation and retention in indoor climbing. The Sport England investment in particular will allow us to support walls more consistently through the appointment of a part-funded Product Manager. This role will enable us to improve communication and product development with our partners and to further improve the launch of new products.

Looking to the future

This post-Covid year has shown that the business is robust and our products are in increasing demand. The Board have identified that NICAS schemes are the first point of contact for many climbers and we must take responsibility to influence our accredited centres to deliver an exceptional experience. In order to do that we need to support sites with high quality marketing assets, learning opportunities and coaching resources through a bespoke coach portal and additionally through our partners. This way we can give climbers the best possible start in a sport for life and continue to motivate and develop & them through quality coaching, at great facilities, across the United Kingdom and overseas.

This financial year has seen the launch of our first new scheme for over five years; NICAS Wild Climbers is a fun, game orientated programme that aims to introduce climbers aged 3+ safely into the indoor climbing environment, developing their awareness of climbing movements, improving confidence and creating a grassroots pathway into additional climbing activities.

None of our achievements could have been completed without the continuing and loyal support of all the artificial climbing structures who deliver our products, and the coaches and Technical Advisors who support them. They and their excellent delivery of our products act as ambassadors for climbing.

FINANCIAL REVIEW

The ABCTT holds funds from its trading reserves. As described above, the current financial risk is low however the Trust has a policy to hold a reserve to cover six month's operating costs.

The Board have maintained the depth of financial reporting and frequency introduced during the pandemic. Forecast models informed them that the business requires an expansion of the executive team to appropriately resource an agreed product pipeline and the introduction of systems that would allow efficient scaling of the business. New appointments will occur in Q2 of the following financial period. The Board's prudent investments and actions have now delivered consecutive years of growth and is further emphasised in that our reserves remain unused. Expenditure remains slightly elevated due to the delivery of Sport England funded projects and is expected to maintain this position due to confirmation of Sport England investment over the next funding cycle 2022 - 2027.

The Board have reviewed this level of reserves and consider it to remain appropriate for current circumstances and the year ahead. In accordance with prudent financial review and good governance, this sum is held in an interest-bearing notice deposit account with Cambridge & Counties Bank, which is an entirely separate organisation to CAF Bank who provide the day to day current and instant access interest-bearing deposit account facilities. All bank accounts held by the ABCTT are covered up to £85,000 under the Financial Services Compensation Scheme.

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ABC Training Trust Report of the Trustees Continued For the year ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Structure and Governance

The ABCTT is a charitable company limited by guarantee, set up in 2008. It is an independent charity established with its main object, as stated above, to provide structured coaching and a syllabus for climbers at registered artificial climbing structures. It is governed by a Memorandum and Articles of Association which were last amended at the Annual Election Meeting in September 2014 and further work will be undertaken in 2023 to ensure our the Articles reflect current law and best practice.

The Board of Trustees will see a number of Trustees completing their maximum terms of office over the next two years and, we will employ a system of managed retirement ensuring we both retain valued experience and add an even greater depth and breadth of experience to the team.

Risk management

The ABCTT's systems of internal control are designed to provide reasonable, but not absolute, assurance against materials misstatement or loss. They include:

The revised Trustee Risk Register is reviewed at least annually and the Operational Risk Register is considered by the Trustees quarterly or whenever circumstances arise.

The ABCTT has 2.0 FTE employees and holds no material assets other than logbooks, which are insured. We commission some executive, technical, administrative and financial services as well as a range of freelance technical experts with robust contracts and Service Level Agreements. Our other main expenses are the purchase of logbooks and the delivery of training which are now operating at a surplus.

Recruitment and appointment of trustees

Trustees can be co-opted throughout the year to the board when vacancies arise. They are formally elected into post at the ABCTT's AGM.

Statement of Trustees' Responsibilities

The Trustees, who are also the directors of ABC Training Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Trustees are required to:

·Select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP

·Make judgments and estimates that are reasonable and prudent; and

·Prepare the accounts on the going concern basis unless it is inappropriate to presume that the trust will continue in operation.

The Trustees are responsible for keeping adequate accounting records and disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity ABC Training Trust Charity registration number 1123559 Company registration number 06496769 Principal address PO Box 12814

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ABC Training Trust Report of the Trustees Continued For the year ended 31 March 2022

Bishops Stortford CM23 9NB

Trustees

The trustees and officers serving during the year and since the year end were as follows:

Independent examiner

Lee Browning Jonathan Chittenden Benjamin Levey (Resigned: 15 September 2022) Andrew Link (Resigned: 14 October 2021) Carys Rowlands (Resigned: 23 May 2022) David Stainthorpe (Resigned: 29 April 2021) Edwin (Dean) Straw Jeremy Tapping Ian Taylor Kenneth Garner (Appointed: 29 April 2021) Jill Cowley (Appointed: 15 September 2022) Juan Avendano (Appointed: 15 September 2022) Matthew Bird (Appointed: 21 July 2022) Rotimi Odukoya (Appointed: 21 July 2022) Tom Wilcox Unit 115 Ducie House Ducie Street Manchester M1 2JW

Approved by the Board of Trustees and signed on its behalf by

............................................................................. Ian Taylor

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ABC Training Trust Independent Examiners Report to the Trustees For the year ended 31 March 2022

I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity Trustees, who are also directors for the purposes of company law, 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 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 examiners 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 that in any material respect:

  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 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.

Tom Wilcox Unit 115 Ducie House Ducie Street Manchester M1 2JW

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ABC Training Trust

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2022

Notes Unrestricted Restricted 2022 2021
funds funds
£ £ £ £
Income and endowments from:
Donations and legacies 2 - 59,139 59,139 50,048
Charitable activities 3 131,365 - 131,365 25,950
Other trading activites 4 5,638 - 5,638 3,588
Investments 5 528 - 528 801
Total 137,531 59,139 196,670 80,387
Expenditure on:
Charitable activities 6 (87,355) (59,139) (146,494) (143,346)
Total (87,355) (59,139) (146,494) (143,346)
Net income/expenditure 50,176 - 50,176 (62,959)
Reconciliation of funds
Total funds brought forward 99,249 - 99,249 162,208
Total funds carried forward 149,425 - 149,425 99,249

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06496769

Registered Number :

ABC Training Trust Statement of Financial Position As at 31 March 2022

Notes
Current assets
Stocks
13
14
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net current assets
Total assets less current liabilities
Net assets
The funds of the charity
Unrestricted income funds
16
Total funds		 £
2022
31,501
13,499
107,266
152,266
(2,841)
149,425
149,425
149,425
149,425
149,425		 £
2021
12,824
5,743
115,946
134,513
(35,263)
99,250
99,250
99,250
99,249
99,249

For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

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ABC Training Trust Notes to the Financial Statements For the year ended 31 March 2022

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006.

ABC Training Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

The financial statements are prepared, on a going concern basis, under the historical cost convention.

Incoming resources

All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

Resources expended

Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Trusts artistic programmes and activities.

Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities.

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2. Income from donations and legacies

Restricted funds
Grants received		 2021
2022
£
£
50,048
59,139
50,048
59,139

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ABC Training Trust Notes to the Financial Statements Continued For the year ended 31 March 2022

Analysis of grants received
Sport England
3. Income from charitable activities
Unrestricted funds
Operations
Primary centre registration
Awarding centre registration
Logbook sales
4. Income earned from other activities
Unrestricted funds
Other income
5. Investment income
Unrestricted funds
Bank interest receivable		 2022
£
59,139
59,139
2022
£
8,550
10,871
111,944
131,365
131,365
2022
£
5,638
5,638
2022
£
528
528		 2021
£
50,048
50,048
2021
£
6,847
6,750
12,353
25,950
25,950
2021
£
3,588
3,588
2021
£
801
801

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ABC Training Trust Notes to the Financial Statements Continued For the year ended 31 March 2022

6. Costs of charitable activities by fund type

osts of charitable activities by fund type
Operations
Direct cost
Staff costs - wages &
salaries
Staff costs - social security
costs
Logbook costs
Carriage
Seminar costs
Meeting costs
Training costs
Consultancy fees
Administrator costs
Telephone
Support costs
Operations
Management
Staff costs - wages &
salaries
Staff costs - social security
costs
Staff costs - pension
contributions
Travel
IT costs
Legal fees
Advertising
Postage and stationery
Sundry
Insurance
Bank charges
Governance costs
Accountancy fees		 Unrestricted
funds
£
-
24,000
1,889
7,490
6,435
1,958
-
6,007
385
1,292
302
49,758
16,975
1,261
885
1,975
3,635
1,555
5,323
724
67
1,117
582
3,498
37,597
87,355		 Restricted
funds
£
-
28,525
-
-
-
-
-
13,828
-
-
-
42,353
-
-
-
102
4,107
-
12,577
-
-
-
-
-
16,786
59,139		 2022
£
-
52,525
1,889
7,490
6,435
1,958
-
19,835
385
1,292
302
92,111
16,975
1,261
885
2,077
7,742
1,555
17,900
724
67
1,117
582
3,498
54,383
146,494		 2021
£
(1)
24,000
1,109
-
675
-
24
22,722
250
4,773
283
53,835
46,000
2,126
900
398
6,069
3,175
24,369
395
685
1,775
195
3,424
89,511
143,346

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ABC Training Trust Notes to the Financial Statements Continued For the year ended 31 March 2022

7. Analysis of support costs

7. Analysis of support costs
Operations
Management
Governance costs
8. Net income/(expenditure) for the year
This is stated after charging/(crediting):
Accountancy fees
Staff pension contributions
9. Staff costs and emoluments
Total staff costs for the year ended 31 March 2022 were:
Salaries and wages
Social security costs
Pension costs
No employee earned more than £60,000 during the year (2021:nil)
Services		 2022
£
50,885
3,498
54,383
2022
£
3,498
885
2022
£
69,500
3,150
885
73,535
2022
2
2		 2021
£
86,087
3,424
89,511
2021
£
3,424
900
2021
£
70,000
3,236
900
74,135
2021
2
2

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ABC Training Trust Notes to the Financial Statements Continued For the year ended 31 March 2022

10. Trustee remuneration and related party transactions

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2021:£nil).

No charity trustee received payment for professional or other services supplied to the charity (2021:£nil). The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2021:£nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2021:£nil).

There are no related party transactions to disclose for 2022 (2021:nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

11. Comparative for the Statement of Financial Activities

Unrestricted Restricted 2021
funds funds
£ £ £
Income and endowments from:
Donations and legacies - 50,048 50,048
Charitable activities 25,950 - 25,950
Other trading activites 3,588 - 3,588
Investments 801 - 801
Total 30,339 50,048 80,387
Expenditure on:
Charitable activities (93,298) (50,048) (143,346)
Total (93,298) (50,048) (143,346)
Net income/expenditure (62,959) - (62,959)
Reconciliation of funds
Total funds brought forward 162,208 - 162,208
Total funds carried forward 99,249 - 99,249

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ABC Training Trust Notes to the Financial Statements Continued For the year ended 31 March 2022

12. Tangible fixed assets

Cost or valuation
At 01 April 2021
At 31 March 2022
Depreciation
At 01 April 2021
At 31 March 2022
Net book values
At 31 March 2022
At 31 March 2021		 Plant and
machinery
£
2,840
2,840
2,840
2,840
-
-

13. Stocks and work in progress

Stocks of raw materials
14. Debtors
Amounts due within one year:
Trade debtors
Other debtors
15. Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
31,501
31,501
2022
£
12,761
738
13,499
2022
£
446
1,395
1,000
2,841		 2021
£
12,824
12,824
2021
£
1,625
4,118
5,743
2021
£
1,663
1,862
31,738
35,263

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ABC Training Trust Notes to the Financial Statements Continued For the year ended 31 March 2022

16. Movement in funds

Unrestricted Funds

Balance at Incoming Outgoing Balance at
01/04/2021 resources resources 31/03/2022
£ £ £ £
General
General 99,249 137,531 (87,355) 149,425
99,249 137,531 (87,355) 149,425
Unrestricted Funds - Previous year
Balance at Incoming Outgoing Balance at
01/04/2020 resources resources 31/03/2021
£ £ £ £
General
General 162,208 30,339 (93,298) 99,249
162,208 30,339 (93,298) 99,249

Purpose of unrestricted Funds

General

General funds are applied to the general aims of the charity.

Restricted Funds

Sport England
Restricted Funds - Previous year
Sport England		 Incoming
resources
£
59,139
59,139
Incoming
resources
£
50,048
50,048		 Outgoing
resources
£
(59,139)
(59,139)
Outgoing
resources
£
(50,048)
(50,048)		 Balance at
31/03/2022
£
-
-
Balance at
31/03/2021
£
-
-

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ABC Training Trust Notes to the Financial Statements Continued For the year ended 31 March 2022

Purpose of restricted funds Sport England

Sport England funds have been awarded for use for specific development projects.

17. Analysis of net assets between funds
Unrestricted funds
General
General
Restricted funds
Previous year
Unrestricted funds
General
General
Restricted funds		 Tangible
fixed assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
-
149,425
149,425
-
149,425
149,425
Tangible
fixed assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
-
99,250
99,250
-
99,250
99,250

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