REG15fERED COMPANY NUMBER: 07371206 (England and Wales) REGISTERED CHARITY NUMBER: 1140717 Re rt of the Trustee5 and Financial Statements for the Year ended 31" October 2020 The British Wheel of Y lifications 4M?EWNYX* 2cl2021 COMPANIES HOUSE
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The British Wheel of Y alifi(ations Contents of the Finan¢ial Statements for tr* Year ended 31" October 2020 Page 3to7 Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities io Ilto14 15
The British Wheel of Y ualfficatlons rt of the Trustees for the Year ended 31° October J)20 The trustees who a also directots of the Charity for purposes of the Companies Act 2(K)6, present their rewrt with the Financial Statements of the Charity for year ended 3151 Ortober 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {March 20181. This Report of the Trustees contains all the informatbon required by the Companie5 Act 2006 to be in the Dirertorf Report. OBJEcfivES AND Acnvm£s Objerts and purpose The Charivs Memorandum and Articles of Association have recently been extensively revised. including its Objects clause for which the Charity Commission gave approval on 6 June 2019. The Objects clause is as follows: The Charivs objects ("the Objec) are to advance for the benefit of the public the education of the public in yoga and related Group l and 2 therapies from the relevant House of Lords report Ihereinafter called .lated thernpie<) and for that purpose: 4.1 to maintain and improve the standard of teaching of yoga and related theraPS by produclng and maintsining qualifications that are fecognised on the Re8iSter; 4.2 to moderate. verify and assess the quality of the centres approved to deliver the Charity's qualifKations and any qualifications delivered by the Charity as an Awarding Oryanisation; 4.3 to maintain and raise standard5 in the development and delr¥ery of yoga qualifications: 4.4 to produce and make available specimen assessment materials for training centres that deliver the Charivs qualifications; and 4.5 to meet the Regulatorfs conditions and ensure that they are upheld by anyone delivering regulated qualifications on behalf of the Charity as an Awardin8 Organisation. Slgnlflcant artl¥llles BINYQ is a registered charTty operating as an awarding organisation regulated and recognised by Ofqual (offi of Qualifications and Examinations Regulations). BWYQ Submits an annual Statement of Compliance confirming adherence to Ofquafs regulatory General Conditions of Recognition. BWYQ oversees the quality of the regulated qualifications that it develops for the national Regulated Qualifications Framework IRQF)- BVrfYQ also creates. reviews and maintains policie5 and procedures to ensure the ongoing integrity of its regulated qualifications. It is responsible for giving recognition to and overseeing training ntre5 that deliver the BWYQ regulated qualifications. It provides slandaTdi5ation training on assessment and coNlucts External Quality Assuran IEQAI of a Centre's Internal Quality Assurance IIQAI of assessment against the national standards. BWYQ awards the certificates to the learners who have successfully completed their quality-assured training. Af present. BWYQ recognises only one centre BV. the training arni of BWYQ'S parent company British Wheel of Yoga IBWYI. Other than any funding from its parent compary BVIY, BWYQ'S entire income comes from its re8iStered learners.
The 8riti5h Wheel of Y aliftcatlons Re ort of the Trustees for the Year ended 31" October 2020 Public benefit The trustees have had regard to the Charity Commission's guidance on public beneflts. BWYQ believes its charitable activities pay due regard to Public Benefft by fvrthering and raising 5tandard5 of yoga teacher training. With4n the requirements of the indtvidual qualification standards. 8WYQ qualifications are open to all members of the public. BVIYQ 15 committed to equality, diversity and inclusion. In early 2019. BWYQ made a commitment to expand its public benefit through the development of new regulated qualtfications that meet national occupational standards for teachers who want to specialise in teaching yoga that is adapted for special population groups. such as older adults with rnultiple health conditions. Two new Gentle Years Yoga qualIficatn5 achieve this. by increosinB the diversity of our qualifications. ACHIEVEMENTS AND PERFORMANCE Much of the financial year was dominated by the effects of Covid-19. This meant registration income from new leamers startin8 courses was only £17.fAX). However. it would have been much worse had we not launched a BVIYQ Remote Assessment polic¥ in 2019. meaning we had already provided standardisation training for our Centre's IQA'S and assessors with regard to on-line learning and remote assessment. well before the effects of Covid-19 started to be felt in the United Kingdom. To a certain extent this allowed the Centre to continue registering and delrrferin8 all of our quoltfication5. In addition to maintsininE registration income throu8hout the financial year, tight control of expenditure ensured financial viability. Therefore, support from the Parent company {BWYI was kept to a minimum, On £10,5 for the financial year. From 2019 onwards there was much debate. within and between BIWY NEC and 8WYQ about intergroup balance5. This culminated in the BWY loan balance of 3151 October 2019 of £341,318 being formally forgiven in a Deed of WaNer drawn up on the l@ December 2020. Also. the support of £10,500 durin8 the financial year {necessary because of the effects of Covid-191 was designated as donation by 8Kry. BWYQ is now in a better p)sition to achieve its long-term financial objertive of self- sufficiency. Two new qualifications were piloted to complement our two existing yoga teaching qualifKations. The two new qualifications are: BWYQ Level 4 Certificate in Teachlng Gentle Years Yoga and BVIYQ Level 4 Award in urKIerstandi the Principles of Adapting Yoga for Older Alufts. It is estimated these qualifications will bring in an additional estimated IQ) learners per year. For example, all of the yoga teachets hired to deli¥er the Gentle Years Yoga intervention being studied on a large-scale research trial conducted by the University of York and Northumbria University are expected to have the 8WYQ Level 4 Certificate in Teachin8 Gentle Years Yo8a as this provides evbdence of the ¢onsistent national standard required.
The Brfijsh Wheel ofy ualifKations Re of the Trustees for the Year ended 31" October 20ZO FINANaAL REVIEW Firlancial posilion At 31" Ottober 2019 BWYQ showed a curnulative loan of £341.318 from its parent company BWY. A significant part of this loan consisted of BV4Y's senior rnanagement Costs and overheads (which would have been incurred by BWY anyway). Given that tt 15 doubtful that BVIYQ will ever be able to repay this loan. a provision of £341.318 was set against the loan. A Similar but opposite provision exists in the books of 814VY. The BVJY NEC decided to fomially forgive this loan, vknich ha5 significantly improved the financial position and long-tem) sustainability of BWYQ At 31* October 2020 BVIYQ had cumulative ServeS (all Unstrted) of £13.881. Whi15t the bank balance was On £144 at the year end. this was sub5tantialty increased shortly afterwards as £14.556 from debtors (chiefly registration intome) was received. rinanclal revlew BWYQ presents Business Plans periodically to the BWY National Executive Committee INECJ- the directors of the parent company BWY- for approval. On the Tr January 2019 BWYQ sent ft5 4-year development plan - 1st November 2018 to 3151 October 2022 - to the NEC. which ShoVd thal BWYQ intended to be operating on a self-sustsininE basis by the end of the 4-year plan. ReseThes policy At 31" October 2020 BWYQ'S reserve5 Stood at a surplus of £13.881. around eight to nine months. operating expenses. In the past, because of the financial loan from the Pant tompany. it hos not been thought appropriate for BWYQ to keep its surplus as a reseTre. other than to retain short tem fvnds to allow 8WYQ to undertake its short-temi activities. As part of many discussions with the NEC during 2019, it was agreed that BWYQ Should build up it5 Own reserves rather than pay down Fts intergroup debt to be better able to protert its registered learners and have a buffer against unexpected events. None of its reserves are restricted or designated. Rlsk management BWYQ ha5 Its own Risk and Issue Management Policy and routinety revsews and rnonoges risks as required by both the Charity Commi55ion and the charitrfs regulatory authority Ofqual. BVIYQ takes all reasonable steps to identify. prevent. reduce andlor mitigate risks that could have an adverse effett. 8VIYQ uses a system of intemal reporting logs that are rnanaged and maintained by BWYQ staff. Risks are reviewed and updated at t end of each reporting year as part of the BVIYQ Self-Assessment and Statement of Compliance Process. and live issueslri5k5 carry over in to the next yearfs108S. In the summer of 2019. BV4YQ identified a risk to the awarding organisation because BWYQ did not have procedures in place for remote assessment usin8 video recordin& livestream or web conferencin8 when geographic distance made it impossible to conduct a physical visit to observe and assess a candidate's ((upatIOnal Cornpetee. A Remote Assessment Policy and
The British Wheel of Yo ualifKations Re rt of the Trustees for the Year ended 31° October 2020 Procedure5 were developed and adopted by BWYQ in October 2019. No one considered a Potential pandemic. but when Covid-19 fortrd a lockdown. banning all contact with people outside one's home and shutting almost all schools, businesses, venues and facilities. the Remote Assessment Policy became a tremendous asset. Assessors could utilise web conferencing facilities such as Zoom to conduct aSSmentsr of candidatear tcachinE yoga classes. Golng Conrn Whilst BWYQ wa5 substantially impacted by the cri515 caused by Covid-19 its reserves remain healthy. The BWYQ Trustees believe it5 Systems and funding are sufficient to weather the Crisis and that BWYQ will continue in existen for at least 12 months from the date of the signing of the Accounts. STRUCWRE. GOVERANCE AND WNAGEMENT Governing document arKI Memordndum and Articles ol Assoclatlon BWYQ was incorporated as a private company limited by guarantee on the 9 September 2010 and successfully applied for charitable statU5. BWYQ is a wholly owned subsidiary of BWY. 8WYQ operates under rules as set out in its Memorandum and Articles of Association. These have recently been exten5Nely revised. The revised Memorandum and Articles have now been approved by the Charity Commi55ion. and the Member in the fomi of the BWY NEC, usin8 a special resolution at a General Meeting on the 22. July 2019. Recruitment and appointm¢nt of new tntstees On 14th March 2019. the Member {BWY) a8reed that the composition and appointment of the BWYQ Board of Trustees is laid down by Artle 16 of the revised BWYQ articles. Under Article 16 the Board at full complement consists of one representative of the Member18WY) to be appointed by the BWY NEC. one representatNe of to be appointed by Bvm and up to 6 Ordinary directors to be appointed by the BWYQ Board. Ordinary trustee5 are appointed for 3-year tenUs. Trustee trainin skill sets and development continue to be under review. REFERENCE AND ADMINsfRATIVE DEfAILS Name The Charty is known by the name Tr Brittsh Wheel of Yoga Qualifications or BWYQ and no other name. Registered Company number 07371206 {England and Wales) Registered tharity number 1140717 Reglstered office 25 Jermyn Street Sleaford Lincolnshire NG34 7RU
The 8ritish Wheel of Y ualifftatlons Re rt of the Trustees for the Year ended 31" October 2020 L L Bi55ell IBIVYQ Secretaryl Z Carr A J Grover {Chairl E R Stone M J Misgalla appoinied 25.06.2020 A D Blow appointed 25.C.2o2O. E Douglas appointed 9.C6.2021 H Tilbrook appointed 9.06.2021 STATEMENT OR TRUSTEE RESPONSIBIUTIES The trustees Iwho a also the d1CtOrS of The British Wheel of Yoga Qualrfications forthe purposes of company law) are responsible fof preparing the Report of the Tru5tee5 and the financial statements in accoffdan with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company law requires the tru51ees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the company for that period. In preparing those financial statements. the trustees are required to select Suitable accounting policies and then appty ihem consistently: obseThe the methods and principles in the Charity SORP- make judgements and estimates that are reasonable and prudent- prepa the financial statements on the going Conrn basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are SPOnsIble for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial staternents comply with the Companies Act 2W6. They a also responsible for safeguarding the a55ets of the charitable company and hence for taking reasonab step5 forthe prevention and detection of fraud and other irregularitie5. Approved by order of the Board of Trustees on the 9 June 2021 and signed on its behalf by. A J Grover (Chairl
The British Wheel of Yo alifKat¢ons Inde ndent Examinerfs Re for the Year ended 31 Ortober 2020 Indewthnt Exwnine¢s Report to the Tntstees of The British Wheel of Yop Qualifications I report to the charity tnteeS on my examination of the accounts of the company for the year ended 31 October 2020 which are set out on page$ 9 to 14. ResponslbllltSes afid basls of report As the charity trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements ofthe Compan$ Art 20061'the 2C(16 ACYI. 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 cOmpanS accounts as carried out under section 145 of the Charities Art 2011 {'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charty Commission under section 145151{bl of the 2011 Act. Independent exarninerfs statement I have completed my examination. I confinn that no matters have come to my attention in connettion with the examination givin8 me cause to believe that in any malerial respect: accounting records were not kept in respect of the company as required by sertiC•n 386 of the 2006 Act.. or the accounts do not accord with those records: or the accounts do not comply with the accountin8 requirements of section 396 of the 21x16 Act other than any requirement that the accounts give a.tn and fair which is not a matter considered a5 Part of an independent examination: or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prartice for accounting and rertIng by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021]. I have no COnrn5 and have come across no other matters in connection wrth the examination to which attention should be drawn in this rewrt in order to enable a proper understanding of the accounts to be reached. Wright WwarLimited CharteredAccountants & BUsK&S A¢tiso Northgate House Northgate Sleafon Lincolnsthrn NG34 78Z 9tr June 2021
The British Wheel of Y ualifKions Statement of Financial Activities kKludln an Income and Ex nditure knount for the Year ended 31" Ortober 2020 Notes 2020 Totsl Funds 2019 Totsl Funds INCOME AND ENDOWMEKfs FROM Donations Charltable Acthitles .Trainin8 and activities Other Totsl EXPENDITURE ON Charltable arti¥ities TraininE and activities Other Total NET INCOME/(EXPENDrruRE) RECONCILIATION OF FUNDS Total Funds bfought forward TOTAL FUNDS CARRIED FORWARD 10.5(K) 17.6CI) 341.318 369.418 20,41XI 775 21.175 18.944 341.318 360,262 9.156 15.418 15.418 5.757 4,725 £13.881 11.032) £4.725 All income and expenditure has arisen from continuing attivits and repsents unrestricted funds.
The British Wheel of Y Balance Sheet At 31" Ortobef 2020 allfications Notes 2020 Total Funds 2019 Total Funds cuRREr ASWS Stocks Debtors Cash at bank 1.008 1,700 2,017 4.725 14.556 15.31X) CREDITORS Amount5 falling due within one year NEf CURRENT ASSEW ILIABIUTIES) 1.419 13.881 4,725 TOTALASSEfs LESS CURRENT LIABIUTIES NET ASSETSI ILIABIUTIES) FUhlDS Unrestricted FurKIs' TOTAL FUNDS 13.881 £13.881 4.725 £4,725 13,881 £13,881 4,725 £4,725 For the financial year in question the company was entitled to exemption under sertion 477 of the Companies Act 2(X)6 relating to small companies. No member has required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Att 2(M)6. The Dirertors acknowledge their spOnSibl11ty for tomplying with the requirements of the Act with respect to accountin8 records and forthe preparation of accounts. These financial statements have been prepared in atrdance with the special provisions of Part 15 of the Companies Act 26 relating to Charitsble 5rnall companies. The financial statement5 were approved by the Board of Trustees on V June 2021 and were signed on its behabf by: A J Grover {Chairl io
The British wheel of Yo uallfkatlons Notes to the Financial Statements for the Year ended 31° October 2020 I. ACCOUNTING pouaES Basis of preParf the financlal statements The financial statements of the charitable company. which is a public benefit entity under FRS 102. have been prepared in accordance with the charit5 SORP IFRS 1021 'Accountin8 and Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance wr(h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffertive l January 20191., financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companie5 Act 26. The financial 5tatementS have been prepared under the historical cost convention. The Charity és a public benefit entity. Golng Concern The accounts are prepared on a going concern basis. Income All income is reco8nised in the Statement of Financial Activitie5 once the charity has entitlement to the fund5, It is probable thal the income will be eNed and the amount can be measured reliably. Expenditure Liabilities a Cognised as expenditure as On as there is a legal or constructive obligation ommittin8 the charity to that expenditure. it is probable that a transfer of economic benefrts will be reqUId in settlement and the amount of the obligation can be measured reliably. Expendtture is ounted for on an accruals basis and has been classified under heading5 that aggregate all c05t related to the category. Vlhere costs cannot be directly attributed to particular headings that aggregote all costs related to the category. Where costs cannot be directly attributed to particular heading5. they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from corporation tax on its charitable artrrfitie5. Stocks In assessing whether stocks should be valued at the bwer of c05t and net realisable value due regard to the Charity SORP {FRS 1021 Module 10.61 has been made. This state5 that where a good has been provided as part of a charity activity. either free or at a subsidi5ed c05t. then net reali5able value should be based on the seThice potential provided the item of stock. The Charity has taken the service potential to be cost. Fund accounting Unrestricted funds can be used in accordance with the charitable obiectNes at the discretion of the trustees. Restritted funds can On be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fvnds are raised for partvIOr restricted purposes. At the moment all funds are unrestricted. li
The Brrtish Wheel of Yo ualffications Notes to the Financial Statements for the Year ended 31" October 2020 2. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 Ortober 2020 nor for the year ended 31" October 2019. The trustees contribute a considerable amount of work and expertise to BWYQ Trustee< expenses During the year no trustee was reimbursed expenses. {2019 Totalled £168). 3. STAFF COSTS The average monthfy number of employees during the year was a5 follows: 2020 2019 BWYQ Coordinator During the year one employee reIVed total employee benefrts of between £IO.IJXJ and £19.999. No employees received emoluments in excess of £60.(KX). 2020 2019 Wages and salaries Social security costs Employers pension costs 16.098 1.018 £17.599 £Nil 4. EXCEPTIONAL ITEMS In previous years the parent company, The BrFtish Wheel of Yoga Limited IBWY) has made loans to BWYQ. BWY National Executive Committee {BWY NEC) decided to WaNe the balance at 31" Ortober 20191£341,3181. With this in mind a fomial Deed of Warwer was signed by both parties on the 18, Defflbef 2020. The 8WY NEC also decided to treat the support they made during the financial year- 1£10,SLMI) as a Donation. In previous years there was doubt to whether the loans will be repaid. so a provision equallin8 the total debt was set against it. A similar provisK)n but opposite existed in the books of BWY. The £341,318 under Other income and Other expenditure represents the write off of the intergroup debt and its corresponding provision. 5. CHARITABLE ACTivmES The amount underTrainin8 and artivities expenditu includes allocated 5UPPQrt ¢05ts of £600 payable for an Independent Examination. No such amount was payable in the prev•ous financial year. 6. STOCKS 2020 2019 £1,008 Stocks of blank Certificates 12
The Britlsh Wheel oly Notes to the Ftnanclal Statsments for the Year ended 31° O¢tober 2020 7. DEBTORS: AMOUNTS FAWNG DUE WIThIN ONE YEAR 2020 2019 Amounts owed by group undertakings Prepayment and accrued Iorne Other debtors 9,850 3.790 916 £14.556 1.700 £1.7iXI 8. CREDITORS: AMOUNTS FAWNG DUE WIThIN ONE YEAR 2020 2019 Amounts owed to group undertakings Accrued expenses 720 699 £1,419 £Nil 9. MOVEMENT IN FUNDS At IncominB 01.11.2019 resources Resources expended Net At movement in 31.10.2020 funds Unrestricted funds General fund 4.725 £4.725 369.418 (360.262) £369.418 £1360.262) 9.156 £9.156 13.881 £13,881 Comparative for movement in funds: At Incorni 01.11.2018 resour5 Resource5 expended Net At movement in 31.10.2019 funds Unrestrtrted funds General fund 11,032) £11.0321 21.175 £21.175 {15.4181 £115.418) 5.757 £5.757 4.725 £4.725 IIX ULTIMATE PARENT COMPANY The parent company is The British Wheel of Yo8a Limited. The parent controls l(Ki% of The British Wheel of Yoga Qualifications. The detail of the parent company. are: Registered Office: 25 Jemiyn Street Sleaford Lincolnshire NG34 7RU Charitable number= 1136674 Company number: 07030679 (England and Wales) 13
The British Wheel of Y Note5 to the FinarKial Sternents for the Year ended 31" Ortober 2020 11. RELATED PARTY DISCLOSURES The charitable company has taken advantage of exemption. under the terms of Financial Reporting Standard 102 The Financial ReportinE Standard applicable in the UK and Republic of Ireland.. not to disclose related party transartions with wholly owned subsidiaries within the group. During the year one Trustee registered a course with The British Wheel of Yoga Qualifications. As with all courses this was on a selfmployed basis. with BWYQ receivin8 re8lStration income from Dew learners. 14
The British Wheel of Y ualifications Detsiled Ststement of financial Arti¥itie5 for the Year ended 31° b¢r 2020 2020 2019 INCOME AND ENDOWMEtirs Donations Charitable artlvltles Re8lStration fees rl¥able Other Income Exceptional item Totsl Incomlng resource5 io.s 17.6 20,4(N) 341.318 369.418 775 21.175 EXPENDITURE Charitable artivitie5 Training and activities Support Costs BWYQ Coordinator Central Office costs Bank charges Legal and professional Independent examinerfs remumeration Trustee and committee expenses Sundry expenses 1.128 1.726 17.599 13,347 11.2801 {8471 168 396 13,692 464 17.816 341.318 360.262 Exceptlonal Item Totsl resources expended 15.418 Net incornel {ewnditure) £9,156 £5,757 This page does not fomi part of the statutory financial statements. 15