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2024-04-05-accounts

FUEL Mission Statement:

First Universal Enterprises Limited (FUEL) seeks to transform lives by helping those most in need to gain fulfilling and sustainable employment. We aim to meet the unique educational, social, and emotional needs of our diverse pupil group in a safe and nurturing environment, where every individual is valued, respected, and supported to reach their full potential.

We aim to both encourage and empower pupils to develop the skills necessary to pursue post-16 opportunities and foster a lifelong love of learning. Through personalised guidance, positive role-modelling, and consistent encouragement, we strive to build confidence, resilience, and ambition in each young person.

At FUEL, we focus on developing the “whole pupil” by teaching and reinforcing academic, personal, and social skills needed for them to achieve success and move onto productive citizenship. We promote responsibility, positive behaviour, independence, and self-belief, ensuring that pupils leave us not only with qualifications, but also with the character, interpersonal skills, and aspirations needed to thrive in their next steps and in the wider community.

Our approach recognises that every pupil has a different starting point and may face a range of barriers to learning and engagement. We therefore offer tailored support, therapeutic strategies, individual targets, and flexible provision that adapts to the needs of each young person.

We work closely with parents, carers, local authorities, and professional partners to create a cohesive support network around each pupil. By maintaining shared goals and consistent expectations, we promote stability, trust and long-term development.

Ultimately, our mission is to equip young people with the knowledge, confidence and capabilities to positively engage with society, build healthy relationships, and contribute to their communities.

FUEL Achieves its Mission by:

• Successfully tailoring programmes to meet the individual needs of each pupil, providing appropriate challenge and clear pathways into further education, training, apprenticeships, and employment. Our Teaching, Learning and Assessment Quality Improvement Plan drives high standards and ensures the delivery of qualifications that support strong outcomes. Our curriculum continues to expand, including further GCSE options, enabling pupils to leave with a balanced and meaningful set of qualifications.

• Developing strong partnerships with colleges, apprenticeship providers, employers and training organisations to support pupils into positive post-16 destinations.

• Working collaboratively with community organisations and local providers to increase access to education, training and employment opportunities for our target pupil group.

• Empowering and investing in the local community by offering training, development and employment opportunities. We currently employ a former pupil who, through dedication, continued support and ongoing training, has progressed into a valued member of our staff team.

• Continually developing and improving the curriculum, facilities and quality of provision year on year, ensuring a high standard of education and support for all pupils.

FUEL’s Core Services can be summarised as follows:

FUEL has worked with young people who have been permanently excluded, or are at risk of exclusion, from mainstream education in Key Stages 3 and 4 since 2009. Many pupils have experienced disadvantage, disrupted education or have identified SEMH and SEND needs requiring flexible, individualised support.

We provide progression pathways including reintegration into mainstream school, transition to post-16 education, apprenticeships or employment. Our curriculum promotes aspiration and challenges pupils to fulfil their personal potential. Outcomes for pupils are consistently positive.

Qualifications offered are drawn from approved KS4 Performance Tables or industryrecognised frameworks supporting routes into further education, training and employment. This provides a high-quality alternative to mainstream schooling while ensuring access to core GCSE subjects and essential life skills.

FUEL gained Independent School Status in January 2017. Our most recent full Ofsted inspection took place on 13th–15th September 2022, where the school was graded Good Overall and Outstanding in Leadership and Management.

Ofsted Key Findings (2022):

“Leaders have developed a curriculum that focuses on preparing pupils for adulthood. The curriculum improves pupils’ confidence and independence as well as their vocational and academic success.”

“Leaders place pupils’ personal development at the heart of the school’s work.”

“Directors, leaders and teachers are driven by a clear moral purpose. They are aspirational for the future of every pupil. Leaders ensure that teachers’ professional development supports the school’s ongoing development. Staff recognise that leaders are supportive and considerate of their well-being and workload.”

Additional External Inspections and Quality Assurance:

Information, Advice and Guidance (IAG):

FUEL provides Careers Information, Advice and Guidance to all pupils, delivered by staff qualified to IAG practitioner standards. Each pupil has an individual progress plan which is reviewed regularly to support transition into college, apprenticeships, training or employment. We maintain strong partnership links with post-16 providers and employers to ensure pupils receive high-quality, meaningful guidance based on real opportunities.

Pre-Employment Training:

FUEL delivers pre-employment training designed to develop practical skills, workplace confidence and readiness for employment. Training is aligned with industry expectations and supports adults and young people to progress into meaningful and sustained work.

Achievements and Performance:

During the most recent academic year, pupils achieved 100% pass rates across vocational subjects including Mechanics, Construction, Health and Social Care, ICT, Workskills and Sport. Functional Skills outcomes remain strong, with 100% achievement in Functional Skills Maths.

GCSE results also demonstrated high performance, with 100% pass rates in English Language, English Literature, Maths and Biology, alongside 100% in Applied Science. GCSE History achieved 57%, with targeted curriculum development now in place to further strengthen this area.

In the most recent progression outcomes, 73% of pupils progressed into college, 9% moved into apprenticeships, 9% moved out of the UK, and 9% were recorded as unknown.

FUEL in the Community:

FUEL continues to work closely with the wider community by offering adult training and development opportunities that support progression into further education, training and employment. We deliver accredited programmes in Construction and Motor Mechanics, alongside ongoing CSCS card training for community learners, referrals from schools and pupils who choose to complete their CSCS card after leaving FUEL. These programmes provide practical skills, recognised qualifications and clear pathways into work.

FUEL continues to support the local community by promoting access to positive sports opportunities. We sponsor a local inner-city football team and have also extended our

support to include a girls’ football team, increasing participation and opportunities for young women in sport. We also support holiday sports sessions to provide young people with a safe and positive environment during school breaks.

Our ongoing subscription with FareShare enables FUEL to continue providing weekly food hampers to families experiencing hardship. The quality and range of items available through FareShare has reduced significantly, so we continue to supplement these deliveries by purchasing fresh meat, fruit and vegetables ourselves each week. We source these from local supermarkets such as Aldi, or whichever retailer offers the best value at the time, to ensure families still receive balanced and nutritious support. Families are identified through our pastoral systems and through referrals from local partner organisations, churches and councillors, ensuring help reaches those most in need.

FUEL continues to make use of our membership with In Kind Direct to access household essentials which we distribute to families who may be struggling. However, the quantity and variety of products available has reduced, as larger retailers have scaled back the level of donations made to the scheme. As a result, we now source more items independently to ensure families continue to receive practical support. Even so, we remain committed to providing help wherever possible and ensuring that support remains consistent for those who need it most.

FUEL Beneficiaries:

In line with FUEL’s charitable objectives, we continue to work with individuals and families who experience significant disadvantage and barriers to education, training and employment. Many of those we support require specialist, flexible and non-mainstream provision due to social, emotional, educational or economic challenges.

FUEL is well-established within the local community and able to engage those who may be hard to reach or reluctant to access traditional services. Through tailored support, education and training, we help individuals develop confidence, build practical skills and increase their employability, enabling them to move towards sustained positive outcomes.

This year, our beneficiary profile included:

91% of beneficiaries were young people aged under 25, and 9% were aged 25+.

45.6% were assessed as having Special Educational Needs (SEN).

40% were from ethnic minority backgrounds.

The client group was 77.78% male and 22.22% female.

77.78% of beneficiaries were from low-income households.

The majority of beneficiaries experienced multiple and complex barriers, including disrupted education, family instability, social disadvantage, and emotional or behavioural needs.

Company Registered No. 06738318 Charity number: 1141054

FIRST UNVERSAL ENTERPRISES LIMITED (A company limited by guarantee)

UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024

FIRST UNIVERSAL ENTERPRISES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

CONTENTS

Page
Officers and advisers 1
Directors' and trustees' report 2 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the accounts 11 - 15

FIRST UNIVERSAL ENTERPRISES LIMITED

OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

OFFICERS

Directors and Trustees

Colin Bernard Adrian McGregor Donovan Johnson

ADVISERS

Bankers Co-Operative Bank 4-5 Exchange Walk Nottingham NG1 Accountants Tom Geraghty & Associates 38-40 North Gate Newark Nottinghamshire NG24 1EZ Registered Office Unit 7 and Address Ellesmere Crescent

Unit 7 Ellesmere Crescent Business Park Sherwood Nottingham NG5 1DX

1

FIRST UNIVERSAL ENTERPRISES LIMITED

DIRECTORS' AND TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their report and accounts for the year ended 31 March 2024

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), 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 2020').

STRUCTURE, GOVERNANCE AND MANAGEMENT

Status and administration

First Universal Enterprises Limited was incorporated as a company limited by guarantee and not having a share capital on 31 October 2008 under the Memorandum and Articles of Association (Registered No. 06738318). The company registered as a charity on 1 April 2011 (Registered No. 1141054). The Charity is also known as FUEL. FUEL is a charity which operates as a Alternative Education Provider.

Trustees

The trustees of the company are also directors of the charity. Those who served during the period were as follows:

C Bernard A McGregor D Johnson

Recruitment and training of trustees

The directors of the company are charity trustees as defined by the Charities Act 2011. The charity or the directors themselves may, by ordinary resolution, appoint new directors who are willing to act. New directors are required in order that the total number of directors does not fall below three. New directors must be deemed qualified and capable of managing the business of the charity and exercising powers on its behalf. Directors do not serve a minimum or maximum period.

Induction of trustees

All new trustees are given the book "Responsibility of Charity Trustees" on appointment as well as a copy of the company's Memorandum and Articles of Association.

Organisational management

The directors as the trustees of the charity, are legally responsible for the overall management of FUEL and meet at regular intervals. Although Trustees may delegate specific aspects of FUEL governance to sub-committees, working groups, the management team, etc, the ultimate responsibility for taking decisions vests in the Trustees acting together as the FUEL board

Risk assessment and management

The board has assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate our exposure to the major risks. The Trustees do not believe the charity is subject to any substantial risk beyond the liabilities disclosed in the Annual Report and Accounts. The charity has public liability and employer liability insurance to protect the charity in the case of a claim.

The Trustees, having taken advice, have introduced risk management processes to assess risks and implement risk management strategies. These include regular risk assessments by appropriately trained members of staff.

2

FIRST UNIVERSAL ENTERPRISES LIMITED

DIRECTORS' AND TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

The Trustees have referred to the Charity Commission's general guidance on public benefit to ensure compliance when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the FUEL'S charitable objects, which are as follows:

STRATEGIES FOR ACHIEVING OBJECTIVE

For the Board of Trustees to work in partnership with key stakeholders including

a) Staff

b) Parents

c) Other Providers

d) Other Voluntary Groups

Significant activities contributing to the achievement of these objectives.

There are a range of activities required to meet the objectives outlined above these include:

a) Strategic structured in-house training for staff;

b) Grant applications for planned projects;

FUEL mission is as follows:

First Universal Enterprises Limited (FUEL) seeks to transform lives by helping those most in need to gain fulfilling and sustainable employment. We aim to meet the unique educational, social, and emotional needs of our diverse pupil group in a safe and nurturing environment.

We aim to both encourage and empower pupils to develop skills necessary to pursue post 16 opportunities and give a lifelong love of learning.

At FUEL we focus on developing the “whole pupil,” by teaching and reinforcing academic, personal and the social skills needed for them to achieve success and move onto productive citizenship.

FUEL achieves its Mission by:

3

FIRST UNIVERSAL ENTERPRISES LIMITED

DIRECTORS' AND TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

continued:

FUEL core services can be summarised as follows:

These courses offer a flexible and high-quality alternative to a traditional mainstream school curriculum, whilst still trying to ensure pupils can access and achieve core GCSE subjects which supports them in their adult lives and helps them to achieve economic wellbeing.

FUEL gained Independent School Status in January 2017 and had our first full Ofsted inspection in January 2018. FUEL was graded good in all areas.

Directors are heavily involved in all areas of operations and day to day running of the provision and are actively involved in leading and supporting change and improvement. Having this presence allows for fast responses to any identified issues or interventions deemed necessary.

FUEL was graded Gold for Leadership and Management in our last NCSEP inspection and Good in our Ofsted inspection in January 2018.

Ofsted key findings included the following: -

“Senior leaders monitor and improve the quality of the curriculum and of teaching on an ongoing basis. They have a thorough understanding of the school’s strengths and they take decisive action to address any concerns.

“Senior leaders demonstrate dedication and commitment to improving life chances for pupils who have not previously experienced success in their education.”

4

FIRST UNIVERSAL ENTERPRISES LIMITED

DIRECTORS' AND TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

Achievements and Performance

FUEL’s mission is to relieve poverty and meet the unique educational, social, and emotional needs of our diverse pupil group i environment. We aim to both encourage and empower pupils to develop skills necessary to pursue post 16 opportunities and g learning. At FUEL we focus on developing the “whole student,” by teaching and reinforcing academic, personal and the social s to achieve success and move onto productive citizenship.

FUEL is an Ofsted rated Good Independent School which provides bespoke packages to young people in key stages 3 and 4 w Educational Needs and Disabilities (SEND), which combines more traditional academic subjects with vocational learning.

We cater for those young people who struggle in mainstream environments whether they have been permanently excluded or a those without a school place and those who are disengaged or at risk of becoming NEET. Our strength is engaging with those extra support around their Social, Emotional and Mental Health needs (SEMH) and who are neurodiverse. We break down the people face on a day-to-day basis to support them to progress in education.

At FUEL, special educational needs are very important. As we are a specialist provision, pupils who come to us generally need traditional school can offer. Whilst at FUEL, pupils have the opportunity of a fresh start with a favorable ratio of staff to pupils a where pupils can feel safe and reflect on their behaviour and learning whilst having additional support for social, emotional and

Quality of teaching is very good, regular learning walks and lesson observations take place, we re-introduced external lesson o and some of these were completed in conjunction with the new Teaching and Learning Manager. FUEL also received an Ofste September, where the majority of teachers had lessons observed by two Ofsted inspectors. Teachers create an environment th to focus on learning which is reflected within our pupils’ results, achievements and feedback. Additional support has been put i teachers to help them achieve a good quality of teaching and to provide a member of staff who knows the pupils to help develo trust needed to ensure learners are able to engage and thus receive good quality teaching. Further support has been planned f year to support teachers who have found managing behaviour for learning challenging.

Overall achievement for this academic year were very good across all areas but GCSE results were definitely affected by the r marking and grading standards.

FUEL’s outstanding achievement were in Mechanics and Construction, learners received a 100% pass rate in both vocational

FUEL seeks to transform lives by helping those most in need to gain fulfilling and sustainable education and employment. As part of this FUEL is committed to ensuring that all young people are given the skills and resources to succeed, and this incl every young person can eat healthy, balanced, nutritious hot food. Therefore, we fund a daily breakfast club for every pupil who well as choosing to fund a free hot school dinner for every pupil including those not on free school meals.

FUEL in the Community

FUEL runs a food re-distribution and essential care parcel delivery service to disadvantaged families within Nottingham, with re school and numerous external agencies including Framework and Small Steps Big Changes (SSBC). FUEL currently delivers to families. We also have additional emergency requests for food and toiletry parcels and more referrals coming in each week, regularly makes deliveries to additional families. FUEL working with our local Councillors have provided additional food and es including winter food parcels each Christmas period to enable a number of families to have food during the school holidays, wi food parcels and 85 essential care parcels delivered to families of a local primary school who are in receipt of free school mea deliveries to the families of the pupils who attend FUEL. Every week FUEL utilises FairShare to form the basis of the food parc additional fresh meat, fruit and vegetables from local supermarkets to ensure that the food parcels we provide meet individual and provide enough fresh produce to enable each family to cook healthy, nutritional, balanced meals. Furthermore, FUEL have cards to families to show how to cook the produce in the parcels to make healthy, nutritionally balanced meals on a budget usi Slow Cookers to support families to cook in the most economical method possible.

FUEL has also supported local disadvantage families including those as classed as living in poverty or living in fuel poverty wit white goods such as replacing a broken fridge or freezer, providing free slow cookers to our regular food parcel recipients who to use their main oven and have even purchased beds or bedding so children have somewhere to sleep when they are placed Alongside household items, FUEL have used In Kind Direct to source a range of winter clothing including coats to enable us to other clothing to children of the families we support to ensure that every child we work with has access warm clothing and clea minimise the isolation or potential shame of not having clothing to wear to education.

FUEL runs community learning programmes to support vulnerable adults gain the qualifications required to enter employment delivering vocational training programmes to Afghan refugees for over 3 years. This has covered Construction Skills Courses, Health and Safety Courses, Community First Aid Courses and Hair and Beauty Courses. These courses have been run via a r methods including twilight courses, holiday courses, after school hour courses and 1-day stand-alone courses. In the last twelv attended the refugee awards celebration evening, handing out over 30 certificates of achievement to the learners who had com courses at FUEL including refugees on the previous Syrian refugee programme and the current Afghan refugee programme.

FUEL sponsors several local children’s activities and young people’s football teams, all of whom would be unable to operate w funding due to the poverty levels and deprivation of the families of the children who participate. FUEL fund these football teams and away kit, transport costs with free use of their mini bus. FUEL have supported the Under 16’s team since they first started also support an Under-18’s team and in the last 12 months have started to support a girls youth football team. All of the team’s up of disadvantaged young people, the majority of whom are from families with single parents who are registered living within t of deprivation nationally. The sessions help divert young people from potential youth offending or anti-social behaviour, but als people gain a passion for participating in sport and developed soft skills from playing within a team.

5

FIRST UNIVERSAL ENTERPRISES LIMITED

DIRECTORS' AND TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

FUEL'S Beneficiaries

In keeping with FUEL's charitable objectives, FUEL continues to reach and work with clients who are disadvantaged in the labour market. This includes candidates who face different and multiple barriers to work; people who are hard to reach and who often need non-mainstreamed services and support. FUEL has an ability to reach into communities and provide services to such groups and to help them increase their employability and gain employment through education and training. This year our client profile was as follows:

FUEL'S Reserves Policy

The current reserve policy is to maintain sufficient cash flows for known commitments.

Core costs : In line with SORP guidelines, FUEL strives to incorporate core costs into project budgets. However, it is recognised that this is not always possible and that for some years provision needs to be made to cover core costs at the outset of each year where necessary.

Financial Review and Results for the year

The financial results for the year are set out on pages 9- 15.

6

FIRST UNIVERSAL ENTERPRISES LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

Trustees' responsibilities

The trustees who are also directors of FUEL for the purpose of company law, are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In preparing these financial statements the trustees are required to:

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

In so far as the trustees are aware:

This report was approved by the board on

and signed on its behalf by:

......................................................

A McGregor Director / Trustee

First Universal Enterprises Limited Unit 7 Ellesmere Crescent Business Park Sherwood NOTTINGHAM NG5 1DX

7

FIRST UNIVERSAL ENTERPRISES LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FIRST UNIVERSAL ENTERPRISES LIMITED FOR THE YEAR ENDED 31 MARCH 2024

I report on the accounts of the charity for the year ended 31 March 2024, set out on pages 9-15.

Respective responsibilities of trustees and examiner

The charity's trustees, who are also the directors of First Universal Enterprises Limited for the purposes of company law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section144(2) of the Charities Act 2011 (the '2011 Act') and that an independent examination is needed. The Charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Certified Public Accountants Association.

Having satisfied myself that the charity is not subject to audit under the company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. ● to prepare financial statements which accord with the accounting records, comply with accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice; Accounting and Reporting by Charities

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding or the accounts to be reached.

Tom Geraghty BSc. FCA Tom Geraghty & Associates Ltd 38 North Gate Newark Nottinghamshire NG24 1EZ

Dated :

8

FIRST UNIVERSAL ENTERPRISES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

N
Incoming Resources
Activities in furtherance of the charity's objects:
Training and employment
Grants and Donations
Investment income
Other incoming resources
Total incoming resources
Resources expended
Charitable expenditure
Training and employment
Governance costs
Total resources expended
Net incoming/(outgoing) resources
for the year
Prior year adjustment
Funds at the start of the year
Funds at the end of the year		 otes
2
3
5
5		 Unrestricted
Funds
£
1,112,503
-
-
1,476
1,113,979
1,109,596
4,332
1,113,928
51
253,992
254,043		 Restricted
Funds
-
70,900
-
70,900
-
-
-
70,900
-
70,900		 2024
1,112,503
70,900
1,476
1,184,879
1,109,596
4,332
1,113,928
(70,951)
253,992
324,943		 2023
£
927,600
54,102
2,490
984,192
975,655
19,091
994,746
(10,554)
(15903)
282,259
255,802

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 10 to the financial statements.

The notes form part of these financial statements 9

FIRST UNIVERSAL ENTERPRISES LIMITED

BALANCE SHEET AS AT 31 MARCH 2024

FIXED ASSETS
CURRENT ASSETS
Debtors
Cash at bank and in hand
Total Current Asset
CREDITORS:
Amounts due within one year
NET CURRENT ASSETS/ (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITES
CREDITORS:
Amounts falling due after more than one year
Net Assets
FUNDS
Unrestricted Funds
Restricted Funds
TOTAL FUNDS		 Notes £
20,991
251,359
272,351
(46,221)		 2024
£
122,457
226,130
348,586
(21,602)
326,984
£
225,262
101,722
326,984		 2023
£
£
132,632
19,331
256,338
275,669
(120,247)
155,422
288,055
(32,251)
255,803
£
224,980
30,823
255,803
7
8
9
10
11

The directors are satisfied that the company is entitled to exemption from the audit requirement contained in Section 477 of the Companies Act 2006 for the year ended 31 March 2024 No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts.

The directors acknowledge their responsibilities for:

The accounts were approved by the board on 06/06/2025 and on its behalf by:

.......................................................................

A McGregor Director / Trustee

Company number : 06738318 Charity number:1141054

The notes form part of these financial statements 10

FIRST UNIVERSAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting Policies

Charity Information

First Universal Enterprises Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 7, Ellesmere Crescent, Business Park, Sherwood, Nottingham, NG5 1DX.

(a) Basis of Accounting

The accounts have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006 and the provisions of the Statement of Recommended Practice (SORP) , 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 2020)and the Charities Act 2011. The charity is a Public Benefit Entity as defined by FRS 102.

The accounts have been prepared on the historical cost basis. The accounts are prepared in sterling, which is the functional currency of the charity.

Going concern

At time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

(b) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds can only be used for particular restricted purposes with the objects of the charity. Restrictions arise when specified by the donor or when funds raised for particular restricted purposes.

(c) 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 incomes

Fees, grants, donations and gifts received are included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

The notes form part of these financial statements 11

FIRST UNIVERSAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

(d) Resources Expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and accountancy fees and other costs linked to the strategic management of the charity.

(e) Tangible Fixed Assets

Fixed assets are stated at costs less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, on the following basis:

Leasehold Building - Straight line over 28 years Fixtures & Fittings - 15% reducing balance IT Equipment - 30% reducing balance Motor Van - 20% on cost

(f) Taxation

The Company is not subject to Corporation tax being a charity.

(f) Company Status

The Company is limited by Guarantee and does not have a Share Capital. The liability of the members in the event of the company being liquidated is limited to £1 per member.

2 Training and employment income

Nottingham Schools
Total
3
Donations and Grants
Sundry Grants and Donations
Restricted Grants
Furlough Grant		 Unrestricted
funds
£
1,113,979
1,113,979
£
-		 Restricted
funds
£
-
-
£
70,900
-
70,900		 Total
2024
£
1,113,979
1,113,979
£
-
70,900
-
70,900		 Total
2023
£
927,600
927,600
54,102
54,102

The notes form part of these financial statements 12

FIRST UNIVERSAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5
Charitable Expenditure
Staff Costs (note 6)
Pensions
Payroll Administration
Staff Training
Educational Trainers
Professional Membership Fees
Business Meeting
Rent & Service Charges
Rates
Water
Electricity & Gas
Insurance
Cleaning & Waste Disposal
Telephone & Broadband
Computer Software & Licenses
Other subscriptions
Stationery, Printing & Postage
Hire of Equipment & Tools
Safety testing & Inpsection/First Aid
Repairs & Maintenance
Electrical items
Independent Accountant
Legal Services
Travel and Subsistence
Mini Bus Expenses
Charitable Contributions
Hospitality
Free School Meals
Achievement Awards
Exam Fees
Materials
Staff welfare
Entertainment (Internal)
Committee Expenses
Bank charges
Depreciation
Sundry
Other Office Expenses
Promotion
Tools
PPE		 Training &
Employment
£
788,976
21,776
-
12,394
11,547
3,420
1,014
22,926
5,945
2,510
14,150
6,450
24,666
8,006
18,107
2,305
7,160
1,440
44,736
779
-
1,353
25,983
12,958
665
15,101
7,652
5,451
1,216
1,627
-
2,116
25,162
5,549
4,962
491
595
410
1,109,596		 Restricted
Funds
-
-		 Governance
Cost
£
1,632
2,700
4,332		 2024
£
788,976
21,776
1,632
12,394
11,547
3,420
1,014
22,926
5,945
2,510
14,150
6,450
24,666
8,006
18,107
2,305
7,160
-
1,440
44,736
779
2,700
1,353
25,983
-
12,958
665
15,101
7,652
-
5,451
1,216
1,627
-
2,116
25,162
5,549
4,962
491
595
410
1,113,928		 2023
Total
£
637,186
29,612
941
16,556
51,413
8,416
-
19,442
2,586
2,540
9,641
7,163
30,273
11,261
10,147
11,740
1,963
14,357
1,200
6,255
4,279
16,192
16,895
5,748
13,314
4,377
675
7,845
1,152
26,533
17,692
4,462
2,890
994,746

The notes form part of these financial statements13

FIRST UNIVERSAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5 Net outgoing resources is stated after charging:

Depreciation
Independent Examiners' Fee
Staff Costs
Salaries & Wages
Pension
Social Security Costs		 2024
£
24,933
2,700
27,633
2024
£
655,443
21,776
133,533
810,752		 2023
£
26,533
1,200
27,733
2023
£
496,651
29,612
140,536
666,799

6 Staff Costs

No employees earned more than £60,000 per annum.

The Charity contributes to a defined pension scheme operated with the new auto-enrolment legislation. The assets are held and administered by Now Pension. The pension cost represents contributions payable by the Charity to the pension scheme.

A McGregor a director received remuneration of £0 (2023: £0) in an operational capacity.

The average monthly number of employees in the period was 29 (2023: 29), calculated on the basis of full time equivalents the average number was as follows:

Training and Employment
Administration		 2024
number
24
5
29		 2023
number
24
5
29

The notes form part of these financial statements14

FIRST UNIVERSAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7
Tangible Assets
Building
Fixtures
Lease
& Fittings
£
£
Cost or Valuation
At 31 March 2023
30,500
148,557
Additions
-
3,112
Disposals
-
-
At 31 March 2024
30,500
151,669
Depreciation
At 31 March 2023
4,003
74,821
Charge for the year
946
11,527
Disposals
-
At 31 March 2024
4,949
86,348
Net Book Value
At 31 March 2024
25,551
65,321
At 31 March 2023
26,497
73,736
8
Debtors
Trade Debtors
Prepayments
VAT Rounding
9
Creditors: Amount falling due more than one year:
Trade Creditors
Other Creditors & Accruals
Taxation & Social Security
Deferred Grant Income
10
Creditors: Amount falling due more than one year:
Bounce Back Loan		 IT
Equipment
£
103,416
11,644
-
115,060
78,553
10,952
-
89,505
25,555
24,863
2024
£
6,137
14,847
7
20,991
2024
£
26,650
7,534
12,037
-
46,221
2024
£
21,602
21,602		 Motor
Van
£
24,851
-
-
24,851
17,314
1,507
-
18,821
6,030
7,537		 Total
£
307,324
14,756
-
322,080
174,691
24,933
-
199,624
122,457
132,633
2023
£
4,484
14,847
-
19,331
2023
£
30,476
7,534
12,037
70,200
120,247
2023
£
32,251
32,251

The Bounce Back Loan was taken on 11 June 2020, to provide additional cash flow to fund charitable activities during Covid 19 pandemic. The loan is repayable over 6 years at an interest rate of 2.5%

The notes form part of these financial statements 15

FIRST UNIVERSAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

11 Movement In Funds

At 1/4/23
£
Unrestricted Funds
224,980
Restricted Funds
30,822
255,802
Prior year adjustment
TOTAL FUNDS
255,802
Net movement in funds, included in the above are as follows:
Incoming
resources
Unrestricted Funds
1,113,979
Restricted Funds
70,900
TOTAL FUNDS
1,184,879		 Net
Movement in
funds
£
282
70,900
-
(71,182)
Resources
expended
(1,113,928)
(1,113,928)		 At 31/3/24
£
225,262
101,722
326,984
326,984
Movement
in funds
51
70,900
70,951

12 Related party transactions

13 Controlling Party

The company is under the control of the Board and no one person has ultimate control.

The notes form part of these financial statements 16

OM

First Universal Enterprises Ltd

General Ledger analysis

For the year ended 31[st] March 2024

Contract Acc

Used for staff expenses, particularly subsistence on school trips, we need to confirm balance at year end.

Instant Access Savings

The only narrative given is Co-operative group bank charges of £7 per month, we need to confirm balance at year end.

Main current

Used as the main bank account, large changes in the balance, we need to confirm balance at year end.

Petty Cash

Expenses are reasonable for this account. If there is a record of this balance/transactions we need to confirm.

Behavior Team Petty Cash

Carried forward balance with no changes in this financial year at £611.13

Petty Cash – From 05/01/24

Consists of mainly small transactions relating to travel costs with some subsistence.

Petty cash Projects

No entries – balance of £660.53 C/fwd

Accounts Receivable

Debtors seem reasonable – Aged debtors summary provided.

Prepaid Expenses

Balance of £14,847.00 C/fwd (no changes in this financial year)

IT equipment

Comprises of computers & iPad transactions.

IT equipment accumulated depreciation.

Depreciation account, amount of depreciation agrees to the fixed asset register.

Other Tangible Assets

Sundry fixed assets such as fixture & fittings to be categorised here.

Tangible assets Depreciation

Depreciation account, amount of depreciation agrees to the fixed asset register.

Tools & Equipment

Consists of a £24.99 single transaction dated 17/07/2023, an ‘Aerobic Stepper’ from Amazon.

Vehicle

No changes made to this account from last year.

Vehicle accumulated Depreciation

Depreciation account, amount of depreciation agrees to the fixed asset register. The journals for the year ended 31/03/2023 need to be posted.

Building Lease

Agrees to fixed asset register – No entries.

Building Lease Depreciation

Depreciation account, amount of depreciation agrees to the fixed asset register.

Accounts Payable

For a school of this size the creditors seem reasonable.

Accruals 2

No changes made to this Accruals account, remains at £6,334.00.

VAT Liability

Vat control account – Vast amount of transactions with £0.00 values, little change to VAT account. Needs verifying with the VAT returns.

Bank Loan

Consists of payments to the bank loan of £887.43 every month.

Opening balances

No entries – Assumed to be conversion balances from the start of the accounts on Quickbooks.

Unrestricted Net Assets

No entries this year

Donations

A single transaction of expenditure to Aldi for £115.24.

Grants

Grants seem reasonable and are all to do with education/Nottingham City Counci

Refund

A single refund from Amazon, worth £10.00.

Sales

School meal sales & student target groups. Increased by 20% compared to last year’s sales.

Sales of product income

These are sales to staff for lunch, all amounts are small and reasonable.

Services

Possible substitute teacher work/admin fees for pupils.

Sundry income

Staff trip income, also an amount of £200 for scrapping a vehicle. There have been no disposals of a motor vehicle in the year, and no breakdown of what vehicles are included on the fixed asset register.

Uncatergorised Income

Consists of two transactions, one is a refund and the other is a charity donation. Needs reallocating to the correct accounts.

Achievement Reward

Sundry purchases for rewards for pupils, all are small amounts and reasonable.

Administration Charges

DBS checks and sundry admin costs, necessary for a school.

Bank charges

£7.00 per month for each of the bank accounts and commission charges for overseas purchases.

Building work

Amounts relating to building construction work done.

Business Meeting

Four transactions totalling £1,014.35, seem to relate to travel, subsistence and room hire expenditure.

Business Rates

10 months of council tax paid to this account.

Charitable Contributions

Lots of donations to different charities and food banks. Fareshare east midlands annual membership is the largest expense – this is a food redistribution charity.

Cleaning Services and Sanitary

All expenses are reasonable.

Communications

Staff mobile phone expenses.

Computer software & Licenses

Technician, coms and I.T. expenses, necessary for the running of a school

Educational resources

Only has a single £9.00 transaction, consider re-allocation to another account.

Electrical Items

Electrical safety testing annual expense

Entertainment

Small single transaction for a business meeting.

Entertainment – Internal

Further staff expenses, weekends away and further costs of £1,246.98

Entertainment – Internal: Meals/ refreshments

Small amount spent on staff meals.

Equipment Hire

Various hiring expenses which seem reasonable for a school of this nature.

First aid supplies

Includes reasonable expenses relating to first aid supplies.

Furniture

Includes four transactions, the most being £2,112.00 from ‘NOE’ and the other three being furniture purchases from Ikea.

Goodwill gesture

Contains 15 relatively small transactions mainly from ASDA and other retailers.

Hand car wash

Two payments to a car wash, seems reasonable priced for a car wash.

Hospitality/ AGM Meeting/ Free School Meals

All costs are to do with travel & subsistence. No costs seem unreasonable; the AGM is necessary.

Hotel room

Hotel costs – Travelodge, holiday Inns and Crowne plaza.

Independent Accountant

A few large transactions to bookkeeping fees.

Insurance

Bulk insurance costs via Zurich insurance

Kitchenware

All are sundry items.

Learners' Training

Expenses required for students in education; exam fees, resit fees, training for the study modules.

Learners’ Training Registration Fees

Amounts donated for the registration of students.

Legal services

Tenancy at Will Aspley Centre, professional service charges in relation to work carried out there.

Maintenance Services

Reasonable service charges relating to maintenance work.

Materials

Sundry material costs, construction materials, science materials etc.

Ofice equipment Expenses

Sundry office equipment costs, nothing of significant value to be capitalised.

Ofice equipment/General Administration

All expenses are expected as office expenses and admin expenses would be in a school of this size, no asset purchased is substantial enough to be capitalized.

Ofice equipment/General Administration Expenses: Photocopying

Sundry photocopying expenses including warranty related warranty charges, seems reasonable.

Payroll Administration

Professional services, all payroll expenses

Postage

Expenses in this code are not specifically categorised as postage, expenses such as amazon prime and amazon purchases.

Postage: Courier

Consists of a single transaction which is a courier charge for a laptop cabinet.

PPE

Mainly students PPE, all normal expenses.

Professional Membership Fees

Accountant’s fees, x3 accountancy expenses of £1,200 from M. Aslam accountants and a payment to Peninsula.

Promotion

T-Shirts & hoodies for staff and students

Rent & services

Expected rental expenses with hire of site of hair salon.

Outdoor Area Hire

Hire of site & hair salon. All expenses are reasonable and have sufficient detail in the ledger.

Repairs

Plumbing and heating repairs & maintenance.

Repairs Haydn Road

Further repairs to the main premises.

Safety Inspection

Necessary and acceptable for a school, various fire and safety testing which will be consistent from year to year.

Small Claims Court

Small singular payment relating to DBS checks, consider re-allocating to administration account.

Staf Achievement Reward

Annual achievement award dinner for the staff.

Staf Costs: Wages & NIC/Pensions/Supply Teacher wages

Wages seem genuine and reasonable. By far the highest expense account, which makes sense for a school.

Staf training

Normal expenses included for the school to perform its duties.

Staf Welfare

Therapy and counselling sessions for the staff.

Stationery & ofice supplies

As expected for a school this size there are many concurrent expenses for stationery as would be needed for a school.

Student Enrichment

Consists of three small expenses from Ebay and Amazon, and one large expense from Decathlon. There are narrated with ‘toys’ and exercise equipment.

Student Trips

Expenditure relating to student trips, all seems appropriate.

Subcontract of work

Inset days and various preparation, curriculum support and other monthly expenses to allow the school to perform.

Subscriptions/Subscriptions Warranty

1 x HR compliance software expense, as well as other subscriptions such as bulk payment to Ofsted. There are some minor expenses to Amazon, presumably this is Amazon prime delivery and a warranty.

Sundry expenses

Various expenses, seems mostly appropriate however some transactions could have been allocated to other accounts.

Tools

Sundry tool purchases.

Various travel expenses

All these expenses; Buss passes, fuel costs, car parking, taxi’s & trains correlate to staff & student trip expenses.

Utility costs

Monthly expenses to Everflow Ltd and other waste companies.