FE SUSSEX IA Company Limited ty Guarantee not h3n8 a Share Capital) Flnandal Statemenfs For the y¢ar ¢nd¢d 31 July 2025 (harity No: 1141705 Cornpany No: 05324410
FE 5US5EX IA Company Limited by Guarantse not ha1 a Share Capltall CONTENTS Pa Trustee5' Rewrt Independè)t Examiners Report Statement of FanJal Activities Balance Sheet Notes to the Financial Staternents 10- 18
FE SUSSEX IA Cornparry Limited by Guarantee not hang a Share Cèpitall Trustees, Report The btsard pre5eThts the rewrt and financial 5tat¢Nnents of FE Suwx for the yÈar Ènded 31 July 2025. The 5taiements appear in the format reqwred by the Siaternent of Recommended Practice applicable 10 Charitie5 preparing their accowts in accordance with the Financial Reporting Standard applicable in the UK Repthlic of Ireland IFRS 1021 l&ffecrive l January 20191- All Irusiees are directors, rhe tru5tees' reporr is a150 a dirKtors' report as required by s.415 of the Compani* Act 216. The fancial staterTEnts comply vuth current Slatutory reqre[ents, the Metnorandurn and Articles of 8sociatlon of rhe Company and the Statement of Recommended Pra£tice- AcCoUntg and Rep)rting by Charlties In accordance the Financlal Reporring Standard IFRS 1021 leffertNe 1 January 20191. R¢f¢ren¢¢ and Administrative Information FE $seX Limited a regtered charity number 1142705 and a company limited by guarartee not han£ a Share Capiul. registered fn England and Wale5, number 05324410. Reglstered otrictr. Chichester Colleoe Westgate Fields Chlchester West Su&sÈx P01915 Banker5= Lioyds TSB Bank PIC 10 East Sireet Chlchester Wesl SSeX PO19 IFU Sollcltors.. Irwin Mitchell LLP 8runÈl HoLLse 21 Brutiswlck Place SoLrthampton aMhire S015 2AQ Independent examlners of flnancial staternents Lems Brownlee (chachter) Limited hartered Accountants Appledram Barns 8irdham Road Chiche5re West Sussex P020 7EQ
FE SUSSEX IA Company Litnited by Guarantee not hang a Share Capltall Trustees. Report (contiw)uedl Tru5tee5 & Directors Trtee$ have all seNed In offKe througMut the yéar and to the date of this rw)rt. K Hucker Mr J Kerell Mr W Baldvri Mr5 D Jan50n Mrs R Conroy Atr A Gen Ms J O Clark (rèsigned 05101120261 Mr D Lodge (resigned 20151251 Unle$5 srated above, all of the Trustees are dlrettors of tie companyj and are refer(j to as Trustee5 throughout thi5 rewrt. STRucfuRE GOVERNANCE AND AGEM CwvernTnE Doeurnent Thè Cornpany is governed by its Memorandum and Articles of Associati)n whKh were dravm up on incorporatlon 5 January 2005, and amÈnded by special resolut%)n 14 June 2011. company Nyas relStered as a chèdty with Charities Commisson 4 July 2011. Or8anfsali¢n The TnEtees are responsible for the financlAI rnanagemer.t of the charity. If a vacancy artses the Trustees nll ensure that all skills continue to be covÈred. Th main skTILglknowiedgeJexperience reqred are experience at a senior level in further education colle anagement together with knowledgÈ of Eompany legal procedures. financial and prtsjea management. Each mÈtnber (SantiOn is entitled to appoint one director. The dlrec¢or5 may appoint a dlrettot by ordinary resolutlon up to a mwmum of 15 directo. The Trustees are responsTbLÈ for the edu¢arioD and pastoral care prowded by the charfty. Mana$ement was del4ated 10 hi% J D Clark. Recnritment. InduttSon and tsainlnÉ of Truste¢5 All new TteÈ5 recelve induction on è group and on a onè to one ba515 to enswe they are familiarwiih their duti arKd r*ponsibilitlÈs. All TrLtstees are CEOSlprtrlpèls of the rfftmber colleges of FE Sussex th the exception of Ms J D Clark, who resigned frotn her post as trwiee folloThA the yearend.
FE SUSSEX IA Cotnpary Limited by Guarantee not having a Share Capital) Trustee5' Report Icontinuedl Rlsk a5ses5ment Formal risk a5$ment is made to the Tmstees on a regular bas in the form of a Ril( Regtster. The charity's attiwties are low Sk. No large advants purchases are madè. fverheads must align with Income. The chaAty employ5 a CEO. Other staff are contracted to projects as required. Aims Ob"ertives And sirtiMtie5 The Trust's main objectives are: IL) To promote further education in Slssex the South East, to wowde a forum for MÈmber5 to Èxchanqe ideas and information, ro develop and share best practice, to identify and itnplemenr key national, local and other agendas in the further edlaOn sector and to assist Metnbers ln Interpreting ano irrpletrnting suth ag&idas,' To rèpresent Wember5' collec¢ive vie¥%s, and to seek tD policy and dlopment in further educatlon by all proper rfftans including act?n8 in a lobbwng role and prowdlng such prthdLfts and services a5 will assist WEmbers in the delivery of high quality further educètion serwces,. and To provide a re50urc& for the prOv10n of CPD. training to Members and their staff and to disseminate the rultS of dlscussion, research and devÈLq)meni pro11 actlvitfes to kn5ex colleges and other interestÈd parh&%. Sisnificant activitie5 this year contrfbutlhg lo the athiev¢meni of the Trust's objectives.. In the past year the trust has: Fully deliverpd the Sussex LSIF Project across all three st-ands and secured the maxlmum funding available1£4.5ml- Provfded a teaching. leamin4 and innovation conference at Su55e¥ University for over 3 coll%e based dellqate5- Led five Innovative cross college events in February-march 2025 with a range of hlgh profile speakers and hundreds of students engèged. Delivered ttrE strategic object of influenclng naonaL anc local skills a8d, through enIagerrnt wlth vdth Èlected policymakers and senior local authority sraff. Conrrlbute4 to a pan-sussex approach to SEND high need5 furvjing. and the colLe8es' involveinent In the Government-funded SEND through the Change Programme,. Prowded meetlr¥ for the Èxchange and peer 8rDuping of college CEOS and PrincIpa. + Reviewed the networks for teachers and sen1or support slatf to deliver upto-date and reEevant peer support. Princfjpal fundng sources •rtd ¢xpendlturè supportingthe key objertive5 The Charity's income has largely been thp LSIP fu7g. Th,: reCtorS agreed to rn$tate an annual sub5CriPtion for member colleges for 2Q24125. Th15 makes ijp le55 than 10.5% of incorne. The remaining incomtr is dÉ*vÈd from the dellvery of educational projeo? fLJnded by the Department for Education. local authoriiies and district councils, a 5rnall aTnount of commercial acrswty. During the year 31 July 2025, FE Sy55ex recorded a defkit of £39,341 IZ024: £79,th)5 surplusl-
FE SUSSEX IA Cornpany LimTted by Gvardntee not hairing a Share Capital) Tnjstees, Report Icontinuedl O¥y7ng to thE natu of the Companys operations and the composition of the Board of DlrKtors and TrLJrees belng dravm from local colle5, it 15 inevftable that trar6actions take place wtth Coll in whith thè dlrectors may have an intert. All transactTons involMn4 these colleges are conducted at armg length aNI in accordance wfth stondard procedure5. ew OfAchlevemets And Perforrnance Th& charitys focu5 in 2024125 has th@ SUCCQ5ful completknn of the SLwex iDcal SkilL8 Improvement Fund ILSIFI projects. These projects reswDded to ski115 gaps identlfied within the Local l¢ilis IMproEnt Plan delfvered by the SussÈx Chamber of Comtnerce. The Sw4iex L51F project has achievÈd exceptlonal SLfC across all three project strands dernonstrating remarf(able adaptabity and innovar10n. Building on the £tro foundations establlshed in 2023-24, the prolett Secured ihe marnuTh fundlng avallable and s(esSfullY delive all plannod outomes withln the 17 month de15¥ery perfod. The LSIF has enabled the introduoion of a de range of new dlgital teaching and LÈaming technologles to b& Installed for the berfit of SUS arners. job-sÈekers, pmpltyers and der communities. 11 cross-campu5 teaching rooms aDd 4 BT immersive spaces were iD5talled. sc$ful dellvery of trwo new careers websites Icareers West Su55ex and Careers BryhtoD & Hovel replicating thè successful Careers East Sussex model. These unifotm pan-SLtsSèX guldance and have been fully 1ntegrate(J into Collegè and Local bority Systems. E()dyswaps were gniflcantly expanded frrm the successful 2023-24 pllot and were installed on all 16 camwses of FE Sussex member colleS. Over 3(NJO learner5 have èeej) Èngaged to datÈ. The ttchnoiogiÉ% faciiTrtate greater leamer engagement th usually unacces5ible.real lifÈ'enYlronrnents through vfrtual reality, and also enable carrs nts, fflaster classe5 and quallfication delivery LO take place acr055 each Sussex college STmLlatneoLk%ly. FE Sussex ts partIcarlY proud of iauncfving the'Landed' app with LSIF funding In March 2025. 3000 students registered on the atp and gaged In p5ychomeiiic rÈst5, created Cvs and were able to look for work experiÈnTr opportunitES fn Sussex. Thts èpp match&s Sussex j-SeekerS with locally available vacanties through an algorithm. The app also SUPPOfts college careers and employ8bilTty tpams to track and swwrt learrtrs job-seeking activrty and their destinat)0$. LandÉd has been designed in collaboratlon wfth Sussex learners. college 5raff and employers. and 15 railored towèrd5 Its locallty and $seX ler8. Asidp from LSIF project delivery, FE Slwex sucCfUllY fai-illtated a ranBe of membèr collaborative activity In 2024125 through its retworks and CPD delivery.
FE SUSSEX IA Company LSmlted by Guarantee not habfjng a Share Cè.pitall Trustee5' Report Icontinu&ql The charity balances a reduct1on of th delhry of meanlngful attiw, through a combination of staff homeworklD8. Onl[ rneetlng5, and the delivery of in-ppr50n twork entS for collegÈ staff and Leaders. TIE charity also contTnues to %ge in CommeraL work when tt contracts with organi5atlong of a similar nature 10 provide educational e5 Wh ton£went wth the chartys migsion. The chamty has rÈa5onablè financial rery after all of Its liabilities are taken into account. Staffing and other overheads have been carefully controlled and this has er.abled the charlty to return a Oefirit. Public And Ctsrnmuni InvoEvement The Charity is dTrectly TnvolvÈd with the wider Sussex communlty and has been in contact s[h many SLakeholders. inciuthng un1versltiÈs, local employers and Ihe three local athhoriises durfng the dèlivery of the Susx Local Skills and Improvement Fund project. Public Benefit StatemeTht The Trte confim that they have cornpLled vrith the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commisslon'$ general 8Utdance on Fubllc beneflt, 'Charitie5 and Public Ben&fit'. All membèrs of the public have the opportunity to Wefit frorn the actTvltie5 of the charity & its aims and purpose ts to "advance further education In Sussex and the S¢uth East" (for all) through-. Pro%idEng a forum for Members to eXchare ideas and information, to develop and share best practKe, to Tdentlfy and itnplement key national, local and other a4a5 In the further educatlon sector and to a5515t Members in interwetiiig and implementinL Seeking to a55iSt policy and devetoprEnt'n furthei education by all proper Tncluding actin4 In a lobbyink role- Prowding such produrts a1 sèmces 45 wlll asst Metnbers in the dÈlivery of h1gh oualfty further education,. pro(ling a coordinated rource for thè protrisiort of training to Member5 and their staff,. Oitsetninating the rULt% of dlsiLL4gon and rcsÈarch to interested partiÈs- and Such other rneans as thè trLtstÈe5 from time to time determlnÈ. In practice. this mean5 any member of the Plblic en8a8ee. in Fwther EdtÉation and Training- in its broadest sense- can efIt through a range of 3ctiwt5es such 3$.. Improvement of teaching arO learnin8 for the benèfit af all learrr5 on any cout5e Sn any co(lege', CoordinatlDn of courses across colleges for the benefir of learners who may bè UmpIOYed. hard to reach, NEEF etc. - The secumg of proiert funds to improve re50urces, facllTties and teachlng and iearnlng. tial RwAnd Result5 For The Year The chaHty delfveIl a deficit of £39.341 in 2024-25. unstrIcted rèserves at 31.7.25 of £336,259 Trus$ remain commTtted to e1n4 costs and sourcin8 nÈw income to support the charities opÈratlons. Bursaries Scholarshi s and Acte53ibili The Charlty does not award bLaries or scholarshi)5. The charity supwrts the open access accesslbllty a5piratlon of member colleges through its qualf¢y imprO¥Trent, kTh)¥viedge exchange and Tretvrk 8roup5 and (JÈvelopnEDt programmes.
FE SUisfK
IA copj.pany Limited ty Guarantee not hairing a 5haJ e Lapitall
Trustees, PNeport Icontiri&Edl
Re3erYe5 poIIty
The unrestrtcted rèsaw of Ihe char,w alter all i5èbi11tle5 lith the @XCEpf1011 OT lhÈ0T¢1.I redundancy payments dL
to SfaTf in ent of the chan C1n1 to openttl stand at i336,259, whictr.. Is grèatÈr thèn & yè&r's cole oper&iiRg
¢osis.
The mariagemenL h4$ èxamfned the roquirernent rDr rerve¢ and their levol. r@sul4 fr e5iablyshed a polloj
herebv ]Jnre5tnc¥ed reserve5 not comm,?tt=d or invested tangible fd assets should equal io ts,- exceed one i/e&r
of oper3iinE expense5. For th= year 2024125 cor£ att4Wty cperatino txpenses tolhllod 18por0mai£Iy> u22,951
Tru51¢es are takirrg aclion to rpduce th#e corÈ costs a¥alt pr?jxted Incomè for 20?2? to ensLEre tha" th2
Charity iemalrf 5&Staln3ble.
M¢YbeF£' Llkbilitie5
Ag boun6 by the Articieg of tssodaLion OF the charitly wJery mrnber of tle clantv prom J
FE SUSSEX IA Company Limited by Gyarantee not having a Share CAtal Independent Examiners Report Indeptrndent examlner's report to the tru5t•es of FE Sussex Company) I report to the charity trLLSteÈs on my examination of ttte account5 of the Conyany for the year e@d 31 July 2025. RespoThsTbfllties and basfs of report As the charity's tntstees of the Company land aL%o its dTrectors for the purposes of cotnpany lawl you are responsible for the preparation of rhe accountg in accordance with the requlrement5 of thè Companies Act 2Tr)6 (the 2006 Att'I- Having satisfied myself that the acmunts of the Company are Tr)t iequred to be au1ited under Part 16 of the 2006 Act and are eligiblÈ for independent pxamlnation. I report in respect of my examinatlon of your chafitys accounts a$ carried out under section 145 of thè Charlties Att 2011 (the 2011 Art'l. In carwng out my èxamlnation I have followed the Directions gfven by Charity Commi$5ion under section 145151 Ibl of the 2011 Act. Independent examiner's statement STnce your companls grs kncome ceeded £250,000 your examlnÉr must be a member of a ITSted body. I can confirm that l am qtsalified to uMertake the cxamfnatTon )etause l am a regtered memtr of the A¥alOn of charter Certified Accountants, which is of t listed bodles. I have completed my examinatlDn. I confirm thai no walle have com& to my attention In ci)nne¢tion wtth the examlnatlDn giving tne caJse to tElieve.' l accourrtifig records were not kept Tn pect of the Coffpany as qUIred by StiOn 386 of the 2006 Act,. or 2 the accounis do not accord tho re¢ords- or 3 the accounts do not tornply vrith the accountlng reculrements of section 396 of the 2006 Act other than any requirement that thè aCcot5 glvc a true ar fafr Mew which TS not a matter considerèd as part of an ?ndopendent examinatTOn,-,)r 4 the accounts have not been prepèred in accordance the rnethods and prynciple5 of the Staternent of Recomrnended Practice for accountinÉ and reporting by charit1¥ lapp11cable to charitFes prepan£ thèir accounts in accordance wth the Finanoal Reportlng Standard applicable the UK and Republlc of IrÈlaThY IF 10211. I have w concerns and have come across no other matters in Connettn Mth the examation to vthich attention should be drawn in this report in order to enable a pn)per understanding of thè accoufjis to be ached. Sarah Alexander FCCA FCA Lprfis 6rownleÈ ICalchterl Limited Chartèred Accowtants Appledrom B3ms Birdharn Road Chlchester West Su55ex P020 7EQ Date..
FE SUSSEX IA Cotnpany Lknited by Grantee nor having a Share Capitall Statement Of Flnancial AtIeS lincorwratin8 an Income and Exrndrtwe Accountl for thè year eed 31 July2025 UThrestrTCted Funds 2025 Re5trftted Fund5 Ttstal Fur 2025 Totsl Funds 2024 Notè 2025 Incorne and emolumÈnt5 from: MembershSp fee5 Charitèble tttieS lrtve51ment income 52,094 424,923 20,259 52,094 424,923 20,259 49.50D 528.559 8,486 Total 497,276 497,276 586. 45 Expendlture on.. Charitable 17¥1e$ Govèrnance costs 534,397 2.220 534,397 2,220 505,260 2,280 Total 536.617 536,617 507.540 movement In fund$ 139,3411 79,005 Reconciliation of funds- Total funds brought forward 375,600 93,930 469.530 390,525 Total funds carried forward 13 336.259 93,930 430,189 469,530 All of the act[lieS are contlnulng. There Is no difference between net incoff tor the yearstated abavè and its htstorical cost eqLrfvalent.
FE SUSSEX IA Coim?&ny Limited by vuarafttee not hawns a Silare C3pitraii 31 July Z025 Company No. 05324410 Note 2025 2024 Flxed Assets Tafjglble ksets 666 Curyent Assets Debtor5 Cash at bank and in hand 796 526,302 i27.098 261.183 YQ1,860 963,042 crèilit9'. ainounts falllTrg due wthln one year 98,021 494,179 Net <urrent assets 429,077 468,B64 Totsl a55ets le55 ¢urrwt14abTllties 430.189 469,530 430.189 464.530 Funds Restricttd Funds Unre5LTcted Funds 93,930 330,159 93,930 375.600 430,189 469.5: The charitable company 15 titled Lo &%émption from audit under 477of rhe Com}07e$ Act 2006 for the ar ended 31 July 1025. rhe rnember5 have oot required the cDmpar,y ro oDtain an audit tsf its financ1315tatements for the year ended 31 July 2025 in arcordance Mth Section 476 OT the Companies Act 2006. Th& truStS acknowledse their respansibilftTe5 40f (?} ÈnsLlring that the charitable conpany keep$ 3ccounng retords that cornply vrith SÈaknns 386 787 of the Cotnpanies Act 2Q06 and Ibi prepann$ financial siatemens which give a irtse aiid fair View of ih? stale of affairs Df the hariiable tgmpany al tho end of each 4[nan31 year and of its surplus or defiot foi each finanoal year In: ccordance Ntli the requTrernents of seclon$ 394 and 395 ar,d whlih Oiierwse comply with t41e reiuirements ot the Compènies Act Z006 relattE to finan£13'. Sta emenls, so far a5 applicable to the charltable company. rhese ilnaTrC121 etatements have beop Prera in aordanCe vAth the #ro%YsiDns applloble to charitatAe compaTries subject to thtrstnail co•paTr1è5 reglme. Tlese nnèneial sratenent5 ware apprevèd ar on Ygned on Tts trehalf ty.. sed Porissue bj, the board ¢fTrustees R Conroy, ChaTr
FE SUSSEX IA Company Urnlted by Guarantee not hatring a Share Capitall Notes on finandal statements fw the year ended 31 July 2025 1 Accounthng Policie5 The follovAng accounting pollcies have been applied cor1$tentIY dealing th Items wh5ch arÈ considered material in reLaiion to the charity's flnanoal statemenL'¥. Basis of accountinE These fhiancl31 statements have bpen prepared in accordance wth the Charftles SORP IFR5 1021 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland- I-FRS 102-1 and the requirements of the Companies Act 2m6. The linanciai statements dre prepèred In sterling ) vthth is Ihe fuKtronal currency of the mtnpany. Aknetary armunts in these financlal statements are rounded to the neat £1. The flnanciai statements have been prepared under the htstoric41 cost conventlon. The prfnclp31 a£¢ounting policies adopted are Sei out telow. In accordance wth FRS 102, the tompany has taken advantage of Ihe exemptions from the following dlsclo5ure reqwrements.. Sectitsn 7'StatWnt ot C45h Fiow5' _ Presefttation of a StateMt of Cash Flow and related notes and disclosures. The financlal statements have been prÈp)red on a going concern basis as thè members are sat15fied that the charity will have adequate re50urcÈs to meet its liabilities as they fall due for a r*riod of at least 12 rTK)nths from Ihe date of sIgn8 of these financial statemS. Company Status The tharity Is a company limited by guarantee not havlw a share Eapital. The members of the cDtnpany are the trttees named on page 2. In the evenr of the charity iting wound up. the liabilTty io rÈspÈct of the 8uarantee Is Ilmited to £10 per metnber of the tharity. Incoming resources IncomÈ is the total amount rÈteivable by the Charity in the ordinary course of the Charitvs acti7t1es vAth t97e LStomers for seNces prOe, excllkling VAT and trade discounts where appllcable. Incomè from grants, contracts, tnernbership fees and otlier seceS rendered is included to the extent of the completion of the contract or senrfce concerned. 10
FE SUSSEX IA Company L1mited by Guarantee not havfng a Share Capitall Notes on financial statements for the year ended 31 Juty 2025 1 Acctsuntfns Polieies Icontinuedl Resource¥ expended ources expended are accounted for on an acirua& b15. Expenditure ts analysed into such categori* ¢0 reasorably enable the user to galn an appredation of the Charlty's expendlture durSni thÈ year. Governance costs compnse the cost of rning the Chariry, IrKludln8 strateglc plannlw for its future deYÈlopment, 150 external Indeellt examination, any legal admce and cost5 of COly1n1 con5titutl)nal and statuiory requiretnents. Tanwble fixed assets Tangible fixed assets are stated at cost le55 depaOn. Cost reprÈ5ents purchase price together vAih any incldental costs of acquisitlon. Depreciation Depreciation Is ¢alcuLatÈd to write down the cost of all tangible a%ets by equal annual instalmertts over their eyperted useful economic lfve5. The ratés generally appiicèble are.. ComrKJter Equipment- 33.3% Straight line Fund Accouniing Unrestricted funds arÈ defined a51ncome rèalised or generated for the objettfve5 of Charfty without further sppciNed purpose and which are available a5 Eeneral funds. Restricted funds are EO be used for specific purpo as laid do by the donor. E¥pLmdlture which rneets these crlteria. wiu IdÈntifled to the fu. Designated funds are fLmd5 set ade by the Tmstees our tsf unrestricted general funds for 5pecffSc future or projects. Fund5 transfers Resources are trats5ferred frorn Unrostricted Funds to Restrkned Funds where @xpendfture 79 the criteria laid down by a donor of restritted iKome exceeds this Income.
FE SU55EX IA company LlmltÈd by Guarantee not haww a Sharo Capital) Nates financial statements for the year ended 31 July 2025 1 Accountir¥ Polf¢ies Icontlttuedl C45h and cash e4uivaients Cash and cath eouivalenrs include c in hand and deposits eld at call wjth bank5. Finandal Tn5trument5 The cotnpany elected to apply the prowsions Df Section 11 'Basic Finantial Instrutnents. and Section 12'0ther Flnancial InstrLment Issu. of FRS 102 to all of fts fancIal Insttuments. Financial inttruments are reta4nised when the company become5 Party to thÈ contrattual provislon5 of t fnstrument. Finanoal assets and Ilabilih are offset. w?th tho net amount5 Present in the financial statements, when there a legally enforceablÈ right to set off the recogn amounts arKI there Is an intention to settle on a net basis or to allse the a¥et and settle the liablllty simUltarE0Ly. Basic financial assets Basic financial assets, which IncLude trade and other debtors dnd cash and bank balants, are Inltially measured at transaction price including ¢raDsacttDn costs and are 5ub5eqLEntly carried at amort15ed cott Un¥ the effective Tnierest rnethod unless the arransemeTht constitutes a financlng transaction. where the financial Set is measured at the present valoe of fuiLre rlpt5 discounted ai a mark&t rate of IntèrÉst. Basic financial liabilities Ba£ finarKial liabilities. incLuding trade and other creditors &nd loans frorn fellow sroup companles a initHIIy recognised at transactlon pri unless the ariangement constitutes a financing trènsartion, where the debt inStrt 15 measured at the yc£Ènt value of the future payments discounted at a market rate of interest. Debt Irtstruments are sub5eqiEntly carrfed at amortlgÈd cost, Uslng the eff£ctv¥e Interesr ratè method. Inter%t receivablè All incomtr frotn short-term deposits1s credited to the profit and loss account1D the pÈriod In whi¢h it earned on a receivable basis. 2 Judgements and key source5 of estÉmation uncertainty In the applicatfon of the company's accounting policies, tIE d'rettors are reoulred to rnake judgements, Èstlmates and assLmptlons about the carwng amount of assets and Ilabi.Ities that arè not readily arwarent from other 50urce5. Thè estirnares and cIated as511mptions are based ()n historical experience ar4J other factDf5 that are candered to be leVant. Jittual re>Jltr may differ from thesL¥ estimat. The estimates and underlwng assurnptions are rèvftved on an ongoing ba515. Revisions to aCCoting e5tlmat are recogni5ed in the perfod in which the estirnate is revlsed he[e the re$1n affects only that perfod. or in the period of rhe revtsSon and future ppriads where the 570 af-.ects trt)th cUrrl ark1 furure perl(#1£. 12
FE SUSSEX IA Company Limiied by Guarantee not hawng a Share Capital) Notes on fit)arKial staternents for the year Thiled 31 July 2D15 3 Membership fees Metnbership feè Trncome represents payment5 madÈ by member Colleges io the chartty far the pro70n of: proding a fonjm for Members to exchange ideas and information, to develop and share st practice to ident1fy and impLÈment key national, local other agendas in the further edycation sector and to ass1st Nembers Tn interpreting and Implementing such agend8S- 5&king to awst poliry and development in further education by all proper means Including acting in a lobbylng role- Prowding products and serrfcès as WTII assfst hmbers lrt the dellvery of hTgh quality fLrther educatlon,. PrOling a rourCe for the pro5[On of training to Members and their Staff.. DT55emlnatin8 the results of dÈtU55i0n and research to Inte$ted partiP5,' and Such other an5 as the truste from time to tSme detemi'.ne. 4 Additional ¢haritable aCtitIeS 2025 2024 cO11anCY aClTVities CollaLK)rati¥e actlwty 7,960 416,963 524,519 424,923 528.559 5 Invostment Income 2025 2024 Intert received on t deposits 20,259 8,486
FE SUSSEX IA Compww Limited by Guarantee not h4%lng a ghar@ Capitall Notes on financial statements forthe year ended 31 July Z025 6 Breakdown of tost of charitable actItieS 2025 2024 Additional Ch4rlty Actie$ Consultancy actimties Non Pay Bad Debts 3,719 7,381 3,719 Collatorative actItY 7,381 Non Pay Bad Debts J09,947 315,n4 309,947 315,774 313,666 323.155 ¢ra[ Adrninistration Administration costs Staff costs Depreclation 220.378 165,857 16.188 353 220,T31 182,105 Total tsperatTns costs 534,397 505,260 7 f0rnance costs 20Z5 2014 Independent examiners. Rmuneration Independent examination fe Taxation compliance sepvices 1,810 410 1,880 2,220 2,280
FE SUSSEX IA Company Llmlted by Guarantee nrt ha%fjn8 a Share Capital) Notes on financial 5Latements for the year ended 31 July 1025 8 Staff cp5ts 2015 2024 Salaries and wag Other pension costs 15,240 16,188 The only mebr of xaff left partway throu8h 2024.The average nutnber of staff emptoyed by the charity durin4 the year WÈS as follows: 2025 2024 Full time equfvalent Full time equivalent Heedcount Headcount Adtninistration No employee received emoluments in excè of E6D,tX)O wr annurn. Ms J D C13rK a dlrectorltrustee who I7gned fdlDvring the yèar end. was seconded from a menw CrAlege. InvoKes submllted durlng the year by the rTEMber ullé£È. irt1th1ng irrecovcrable VAT, amounted ro- 2025 2QZ4 Seconded salary and assK1ated costs11ncl VATI Invoiced e)pen5e5 145,189 4,531 149,720 130,890 2,691 133,581 15
FE SUSSEX IA Company Lfmfted by Guarantee not havtng a Share Capltall Notes on flrjancial 5taternents for the year ended 31 July 2025 9 An4ly5is of resotsrces expended 2025 2024 Total Staff co5t5 Other Depreciation Total Charitable Expendlturè Charity operating costs.. Project costs Adminlstratfon 313,666 222,598 536,264 313,666 2Z2,951 536,617 323.155 184.385 507,540 353 353 10 fanwble fixed assets Equipment Cost At 1 August 2024 Additiofts T16 799 At 31 July 2025 1,525 DepreciatiL>n At 1 August 2024 Depreciation ellminated on di5PD5&1 60 353 At 31 July 2025 413 Net book value Ar 31 July 2025 At 31 July 2024 666 16
FE SUSSEX IA Company Limited by Guaranteè not haTriw a Share Capital) Note5 on finanaai 5tatemet)ts for the year ended 31 July 2025 11 Debtors 2025 2024 Trade debtor5 Prepayments and accrued incDme 17,135 243,848 796 796 261,183 12 Crethtors Amowt5 falling due Mthin one year 2025 2024 Trade credlto Other creditors Accruals and deferred income Deferd Income 63,840 32,012 2,169 71,318 40,346 2.092 380,423 98,021 494,179 13 Stslement of fijnds At 1 August 2024 Income Expendlture Trafer$ At 31 July 2025 Unrestricted 375,600 497,276 1536,6171 336,259 Restrirted 93,930 93.930 Total Funds 469,530 497,276 1536,6171 430,189 Cornparativ mtsyement ITr fun At 1 Au8ust 2023 Income Expendlture Transfers At 31 July 2024 Unrestrleted 296,595 586.545 1507,5401 375.600 Restricted 93,930 93,930 Total 390,525 586,545 1507,5401 469,530 Restricted furKJs represents the net a55ets introduced by rnentÈr Colleges on Incorwrion less a donation of £41,742 and is repayable to the Colleges if FE seX was wound up at met11ne in future. 17
FE SUSS£X IA Company Limited by Guaranteè nDt hawr4 a Share Capltall Notes on financial statements for the year ended 31 July 2025 14 Anatysls of net a55ets between funds Unre5trKied Funds Restricted Ftsnd5 Total Tangible ffxed assets Current aetS Curront liablllties Lon4 term 15abflities 433.168 198,0211 93,930 577,098 198,0211 Total nèt Sets 336,259 93,930 0,189 15 Taxatlon The company is a lStered charity and, as such. is exempt from tax Lnder Settion 478 of the Corwratlon Taxes Act 2010. on the basis that income is applied for charitable FUrrSe5 only. 16 Related Partyrransactior The CEO, Ms J D Clark's is employed by the rnember College, Chlthester Coll¢e GroLP> and seconded to the company. Included vrithin rv)n staff costs ère £145,189 12024.. É130.8891 latIng to salary> pension and relevant taxeg, incILn4 value added tax. 17 Share Capital The company 19 lirnited by guarantee and has nts share capital. The liability Df each member in the event of wndln4-UP the comparty 15 limfted to £10. 18 Capital comllMent re were no capital commitwents or coDtiryent liabllities &lS at 31st July 202512024- £n111- 19 Control FE SLssex 15 under the tontrol of Trtee$, 85 detailed in the Trlee5, reporr. 18