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REGISTERED COMPANY NUMBER: 07776138 (England and Wales) REGISTERED CHARITY NUMBER: 1144651

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| CharteredAccountants
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Report of the Trustees and

Financial Statements for the Year Ended 30 June 2025

for

Engineering Education Scheme Wales Ltd (A Company Limited by Guarantee)

Radnor House

Greenwood Close Cardiff Gate Business Park Cardiff CF23 8AA

Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales

bpu Chartered Accountanis is a trading name of BPU Ltd Company Number 3723948 Registered in Wales

| A list of directors is available from the registered office above.

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Engineering Education Scheme Wales Ltd

Contents of the Financial Statements for the Year Ended 30 June 2025

		Page	Page
Report ofthe Trustees	1	to	5
Independent Examiner's Report		6
Statement of Financial Activities		7
Balance Sheet	8	to	9
Cash Flow Statement		10
Notes to the Cash Flow Statement		11
NotestotheFinancialStatements	12	to	22

Engineering Education Scheme Wales Ltd

for the Year Ended 30 June 2025

Report of the Trustees

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRATEGIC REPORT

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Trust Deed, held by the Charity Commissioners, states that the aim of the charity is to further the education of secondary school pupils in Wales and in particular sixth formers in the practical aspects of engineering which are not available through their usual studies, to advance the education of secondary school pupils in Wales by enabling them to gain an insight to engineering at a technical level through the provision of extra-curricular clubs and project competitions and to promote such other purposes or objects connected with the advancement of education as are exclusively charitable according to the law of England and Wales as the Trustees in their absolute discretion determine.

There have been no material changes in the status or policies of the charity during the period.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 07776138 (England and Wales)

Registered Charity number 1144651

Registered office Waterton Technology Centre Waterton Bridgend CF31 3WT

Trustees B J Evans T J Williams D J Phillips P Carr (appointed 19/12/2024) R Elward BMG Jones (appointed 19/12/2024) R Kerton K A Lewis (appointed 19/12/2024) | Mabbett D McCann G Nutt

Engineering Education Scheme Wales Ltd

Report of the Trustees for the Year Ended 30 June 2025

REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Nicholas Matthew Toye FCA BPU Limited Chartered Accountants Radnor House Greenwood Close Cardiff Gate Business Park Cardiff CF23 8AA

Bankers National Westminster Bank plc 9 High Street Abergavenny NP7 5SA

Chief Executive R Davies

Engineering Education Scheme Wales Ltd

for the Year Ended 30 June 2025

Report of the Trustees

STRUCTURE, GOVERNANCE AND MANAGEMENT

Mission and Public Benefit Statement

EESW is a registered charity and a company limited by guarantee and is in its 35th year of operation. The Scheme was set up to encourage school and college students to take an interest in STEM subjects and to consider careers in engineering and manufacturing, and now seeks to engage with young people from primary school age up to sixth form level. EESW interventions include a mix of short engagements and long-term projects and are designed to have lasting impact on learners. Approximately 450 sixth form learners are now participating each year and approximately 8500 pupils are involved annually across the Charity's various projects. One of the major challenges in the STEM sector is the need to encourage diversity and _ inclusion, and EESW hasa focus on gender inequality. This is achieved through positive marketing of our activities and by offering a range of activities targeted specifically at females and by using role models to directly interact with young people.

The project strands are fully inclusive and deliver STEM skills to different age groups in the key stages of young people's education. There are several projects which offer progression and continuity in STEM activities to encourage re-engagement of pupils throughout their academic lives. They aim to include involvement of external volunteers from industry & FE/HE organisations, as well as professional institutions to contextualise and enrich activities to raise aspirations and widen career horizons for students. The project will also be able to build, year on year, on young peoples' transferable employability and soft skills and help them to make more informed subject choices by offering progressive STEM opportunities. Our activities are also designed to give added value for pupils who are supported to enter for CREST awards.

Young people gain a number of benefits through extended involvement in activities:
Better understanding of the importance of STEM subjects for employment.
- Increased understanding of engineering and manufacturing. - Enhanced understanding of maths and science through contextualised application. - Real experience of team work and team leadership. - Enhanced communication skills.
Industry based problem solving experience. - Increased self-confidence and motivation.

Trustee and principal officers information

The charity is organised and policy implemented via a director and a team of experienced educationalists and Chartered Engineers throughout Wales. There were six trustees meetings held during the year.

The trustees of the Charity shall be subject to election or re-election at the Annual General Meeting of the Charity.

Related parties

The charity works closely with a range of organisations including but not limited to the Spectris Foundation, Engineering UK, the Institution of Engineering and Technology, the Institution of Mechanical Engineers, the South Wales Institute of Engineers Educational Trust, Welsh Government.

Engineering Education Scheme Wales Ltd

Report of the Trustees for the Year Ended 30 June 2025

Risk Assessment

The major risks to which the charity is exposed have been identified and mechanisms are in place to mitigate and monitor those risks. Any perceived risks are considered at the trustee meetings and any necessary actions are implemented to reduce the risk areas of concern.

ACHIEVEMENTS AND PERFORMANCE

Activities

The 13 years of funding from the European Social Fund came to an end in 2023. The main activity of the Charity during the year continued to be funded by the Welsh Government Education Directorate, in respect of the EESW Sixth Form Project, F1 in Schools project for secondary schools and Girls into STEM industry visits. Replacement funding was sought by the EESW team for the range of projects previously funded by European funding, this was achieved through a successful Welsh Government funding bid to the Innovation team for the F1 primary schools activity. We also received continued support from the Institution of Engineering and Technology for the First Lego League events for the 2024-25 academic year.

The Charity sought funding for its i2E in-school workshop activities through bids to the UK Shared Prosperity Fund and was successful in three local authorities of Ceredigion, Conwy and Wrexham through its Key Funds programme and through Bridgend through a separate application activity. Other funding received this year included a donation from the Spectris Foundation, funding form the Royal Society of Chemistry to build upon the previous year's Sustainable Farming project to develop a Sustainable Waste project for secondary schools, continued delivery of Engineering UK's Big Bang at School programme and funding from the Pen Y Cymoedd Community Fund to deliver wind turbine sessions. EESW also delivered a new pilot project through CSconnected to primary schools to introduce a basic knowledge of semiconductors and obtained further funding to develop a Sustainable Homes project at secondary school level.

FINANCIAL REVIEW

Reserves policy

At the year end the Charity had unrestricted reserves equal to eight months' worth of expenditure (based on the total costs for the year to 30 June 2025). The Trustees' target is to maintain reserves equivalent to six to nine months' worth of expenditure. The Trustees review both the Charity's level of reserves and the reserves policy itself on a regular basis to ensure that the objectives of the Charity can be met.

Investment policy

The Charity invests surplus funds for short to medium term on the best terms available for the period of time for which the funds are available in major UK based financial institutions.

Review of transactions and financial position

The charity recorded a surplus of £21,116 during the year (2024 - deficit of £59,192). Total incoming resources for the year were £685,073 (2024 - £490,874).

Engineering Education Scheme Wales Ltd

Report of the Trustees

for the Year Ended 30 June 2025

FUTURE DEVELOPMENTS

Whilst the organisation has continued to meet targets for funded activities, the Board will now need to closely consider any financial impact that the end of the UK Shared Prosperity Fund projects will have on the Charity. The Charity has reviewed its reserves policy and will closely monitor the impact of any changes in income expected for the year against expenditure. It is widely acknowledged that industry in Wales is currently undergoing significant changes, and whilst there are job losses there is still a future skills shortage which needs addressing. The Charity will continue to work towards this aim alongside other priorities, to assist with the challenges of creating a green economy and changing industry focus.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Engineering Education Scheme Wales Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible 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 statements comply with the Companies Act 2006. They 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.

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Independent Examiner's Report to the Trustees of Engineering Education Scheme Wales Ltd Independent examiner's. report to the trustees of Engineering. . Education. Scheme Wales Ltd (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.

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Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

| |

Radnor House

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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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Engineering Education Scheme Wales Ltd

Statement of Financial Activities

for the Year Ended 30 June 2025

				2025	2024
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes	£	£	£	£
INCOME FROM
Grants and donations	2	199,800	485,273	685,073	490,874
EXPENDITURE ON
Charitable activities	3	178,684	485,273	663,957	550,066
NET INCOME/(EXPENDITURE)		21,116	.	21,116	(59,192)
RECONCILIATION OF FUNDS
Total funds brought forward		445,032	-	445,032	504,224
TOTALFUNDSCARRIEDFORWARD		466,148	-	466,148	445,032

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Engineering Education Scheme Wales Ltd

Balance Sheet

30 June 2025

		2025	2024
	Notes	£	£
FIXED ASSETS
Tangible assets	8	7,839	17,590
CURRENT ASSETS
Debtors	9	103,455	86,107
Cash at bank		373,928	361,847
		477,383	447,954
CREDITORS
Amounts falling due within one year	10	(19,074)	(20,512)
NET CURRENTASSETS		458,309	427,442
TOTAL ASSETS LESS CURRENT
LIABILITIES		466,148	445,032
NETASSETS		466,148	445,032
FUNDS	13
Unrestricted funds		466,148	445,032
TOTALFUNDS		466,148	445,032

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

Theeee aitDOAN 2025".statements wereand wereapprovedsignedbyontheits Boardbehalf by:of Trustees and authorised for issue on

The notes form part of these financial statements

continued...

Engineering Education Scheme Wales Ltd

Balance Sheet - continued 30 June 2025

VONER D J Philligs}- Trusteé /

The notes form part of these financial statements

Engineering Education Scheme Wales Ltd

Cash Flow Statement for the Year Ended 30 June 2025

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||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|1|13,611|(68,537)| |Net|cash|provided|by/(used|in)|operating| |activities|13,611|(68,537)| |Cash|flows|from|investing|activities| |Purchase|of tangible|fixed|assets|(1,530)|(10,338)| |Net|cash|used|in|investing|activities|(1,530)|(10,338)| |Change|in|cash|and|cash| |equivalents|in|the|reporting| |period|12,081|(78,875)| |Cash|and|cash|equivalents|at the| |beginning|of the|reporting|period|361,847|440,722| |Cash|and|cash|equivalents|at the| |end|of the|reporting|period|373,928|361,847|

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The notes form part of these financial statements

Engineering Education Scheme Wales Ltd

Notes to the Cash Flow Statement

for the Year Ended 30 June 2025

1.	RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NETCASH FLOW FROM
	OPERATINGACTIVITIES

OPERATING ACTIVITIES
	2025	2024
	£	£
Net income/(expenditure) forthe reporting period (as per
the Statement of Financial Activities)	21,116	(59,192)
Adjustments for:
Depreciation charges	11,281	13,177
Increase in debtors	(17,348)	(30,148)
(Decrease)/increase in creditors	(1,438)	7,626
Netcashprovidedby/(usedin)operations	13,611	(68,537)

2. ANALYSIS OF CHANGES IN NET FUNDS

	At 1/7/24	Cash flow	At 30/6/25
	£	£	£
Net cash
Cash at bank	361,847	12,081	373,928
	361,847	12,081	373,928
Total	361,847	12,081	373,928

The notes form part of these financial statements

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements for the Year Ended 30 June 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is received from the Welsh Government, Europe, other institutions and public and private companies in order to aid the charity to to encourage students to move into science, technology, engineering and mathematics in relation to a potential careers option.

The following specific policies are applied to particular categories of income:

i) Voluntary income is received by way of donations and membership fees and is included _ in accounts when receivable.

ii) 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 which will normally be when the grant is actually received. Grants, where related to the performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Deferred income represents grant monies received for future periods and released to incoming resources in the period to which it relates.

iii) Trading income is included when receivable.

iv) Donated services and facilities are included at the value to the charity where this can be quantified and are material.

v) Investment income and all other income is recognised when receivable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

ACCOUNTING POLICIES - continued

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - 33% straight line

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

GRANTS AND DONATIONS

GRANTS AND DONATIONS
	2025	2024
	£	£
Company sponsors/project sponsorship	69,123	67,610
Awards & presentation days	8,650	10,180
Welsh Government Education Directorate	189,500	146,000
IET Funding	10,000	20,000
Engineering UK	15,001	24,374
F1 Challenge Project	33,050	36,439
Headstart Cymru	-	30,000
Miscellaneous income	2,816	4,535
Shared Prosperity Fund Grant	135,979	40,669
GwyntY Mor	-	16,723
Pen Y Cymoedd	7,881	16,871
Other grants	32,856	27,472
The Spectris Foundation	50,000	50,001
CS Connected	60,417	-
Moondance	30,000	-
Bridgend County Borough Shared Prosperity Fund	39,800	-
Carriedforward	685,073	490,874

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

2.	GRANTS AND DONATIONS- continued
		2025	2024
		£	£
	Brought forward	685,073	490,874
		685,073	490,874
3.	CHARITABLE ACTIVITIES
	Charitable activity operations
		2025	2024
		£	£
	Staff costs	425,044	354,300
	Consultants’ fees	9,013	7,775
	Depreciation	11,281	13,177
	Travel & subsistence	22,721	24,872
	Advertising, career publicity & recruitment	1,903	4,287
	Legal, professional & consultancy	47,489	13,976
	Office rent & rates	14,602	11,260
	Insurance	5,900	6,478
	Office equipment, maintenance & consumables	22,984	13,830
	Bank charges& interest	626	540
	Awards & presentation days, conferences & meetings	88,088	85,812
	Printing, stationery, telephone & computer costs	12,417	10,886
	Stafftraining	1,889	2,873
		663,957	550,066

The legal, professional and consultancy fees includes amounts paid to the independent examiners as financial consultants for the charity. The amounts paid inclusive of vat for independent examiners service was £4,500 (2024 - £4,500) and for other financial services were £20,390 (2024 - £6,674).

NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

				2025	2024
				£	£
Depreciation	-	owned	assets	11,281	13,177

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.

6. STAFF COSTS

STAFF COSTS
	2025	2024
	£	£
Wages and salaries	390,420	316,236
Social security costs	26,254	30,493
Other pension costs	8,370	7,971
	425,044	354,300

The average monthly number of employees during the year was as follows:

	2025	2024
Administration	12	11

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

			2025	2024
£60,001	-	£70,000	-	1
£70,001	-	£80,000	1	-
			1	1

Key management personnel

Total costs paid out by the Charity in relation to key management personnel totalled £70,290 (2024 - £67,733) for the year.

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		fund	funds	funds
		£	£	£
	INCOME FROM
	Grants and donations	204,172	286,702	490,874
	EXPENDITURE ON
	Charitable activities	279,651	270,415	550,066
	NET INCOME/(EXPENDITURE)	(75,479)	16,287	(59,192)
	Transfers between funds	22,793	(22,793)	-
	Net movement in funds	(52,686)	(6,506)	(59,192)
	RECONCILIATION OF FUNDS
	Total funds broughtforward	497,718	6,506	504,224
	TOTAL FUNDS CARRIED
	FORWARD	445,032	-	445,032
8.	TANGIBLE FIXED ASSETS
				Office
				equipment
				£
	COST
	At1 July 2024			110,545
	Additions			1,530
	At 30 June 2025			112,075
	DEPRECIATION
	At 1 July 2024			92,955
	Charge foryear			11,281
	At 30 June 2025			104,236
	NET BOOK VALUE
	At 30 June 2025			7,839
	At30June2024			17,590

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

9.	DEBTORS: AMOUNTS FALLING	DUE WITHIN ONE YEAR	DUE WITHIN ONE YEAR
				2025	2024
				£	£
	Trade debtors			99,115	81,653
	Prepayments & accrued income			4,340	4,454
				103,455	86,107
10.	CREDITORS: AMOUNTS FALLING DUE WITHIN		ONE YEAR
				2025	2024
				£	£
	Trade creditors			2,049	1,588
	Social security & othertaxes			5,572	8,030
	Other creditors & accruals			11,453	10,894
				19,074	20,512
11.	LEASING AGREEMENTS
	Minimum lease payments under non-cancellable operating leases fall due as follows:
				2025	2024
				£	£
	Within one year			13,742	5,347
	Between one and five years			24,049	-
				37,791	5,347
12.	ANALYSIS OF NETASSETS BETWEEN FUNDS
				2025	2024
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
		£	£	£	£
	Fixed assets	7,839	~	7,839	17,590
	Current assets	477,383	-	477,383	447,954
	Current liabilities	(19,074)	~	(19,074)	(20,512)
		466,148	-	466,148	445,032

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

MOVEMENT IN FUNDS
		Net
		movement
	At 1/7/24	infunds	At 30/6/25
	£	£	£
Unrestricted funds
General fund	445,032	21,116	466,148
TOTAL FUNDS	445,032	21,116	466,148
Net movement in funds, included in the above are as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	199,800	(178,684)	21,116
Restricted funds
Welsh Government Education
Directorate	189,500	(189,500)	-
Shared Prosperity Fund	135,979	(135,979)	-
F1 Grant Funding	33,050	(33,050)	-
Pen Y Cymoedd	7,881	(7,881)	-
CSconnected	60,417	(60,417)	-
Quickstart Bridgend	8,666	(8,666)	-
Royal Society ofChemistry	9,980	(9,980)	-
Bridgend County Borough Shared
Prosperity Fund	39,800	(39,800)	-
	485,273	(485,273)	-
TOTALFUNDS	685,073	(663,957)	21,116

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

13. MOVEMENT IN FUNDS- continued

Comparatives for movement in funds

		Net	Transfers
		movement	between
	At 1/7/23	in funds	funds	At 30/6/24
	£	£	£	£
Unrestricted funds
General fund	497,718	(75,479)	22,793	445,032
Restricted funds
STEM Cymru	6,506	-	(6,506)	-
Tech Valleys Headstart	-	16,287	(16,287)	-
	6,506	16,287	(22,793)	-
TOTALFUNDS	504,224	(59,192)	-	445,032

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	204,172	(279,651)	(75,479)
Restricted funds
Welsh Government Education
Directorate	146,000	(146,000)	-
Shared Prosperity Fund	40,669	(40,669)	-
F1 Grant Funding	36,439	(36,439)	-
GwyntY Mor	16,723	(16,723)	-
Pen Y Cymoedd	16,871	(16,871)	-
Tech Valleys Headstart	30,000	(13,713)	16,287
	286,702	(270,415)	16,287
TOTALFUNDS	490,874	(550,066)	(59,192)

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

13. MOVEMENT IN FUNDS- continued

A current year 12 months and prior year 12 months combined position is as follows:

		Net — Transfers	Net — Transfers
		movement	between
	At 1/7/23	in funds	funds	At 30/6/25
	£	£	£	£
Unrestricted funds
General fund	497,718	(54,363)	22,793	466,148
Restricted funds
STEM Cymru	6,506	-	(6,506)	-
Tech Valleys Headstart	-	16,287	(16,287)	-
	6,506	16,287	(22,793)	-
TOTALFUNDS	504,224	(38,076)	-	466,148

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	403,972	(458,335)	(54,363)
Restricted funds
Welsh Government Education
Directorate	335,500	(335,500)	-
Shared Prosperity Fund	176,648	(176,648)	-
F1 Grant Funding	69,489	(69,489)	-
GwyntY Mor	16,723	(16,723)	-
Pen Y Cymoedd	24,752	(24,752)	-
Tech Valleys Headstart	30,000	(13,713)	16,287
CSconnected	60,417	(60,417)	-
Quickstart Bridgend	8,666	(8,666)	-
Royal Society ofChemistry	9,980	(9,980)	-
Bridgend County Borough Shared
Prosperity Fund	39,800	(39,800)	-
	771,975	(755,688)	16,287
TOTALFUNDS	1,175,947	(1,214,023)	(38,076)

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

13. MOVEMENT IN FUNDS- continued

Welsh Government Education Directorate is a Welsh Government funded project aiming to increase the number of young engineers for the future workforce by engaging with young people in secondary schools. The funding above includes 9 months of the grant awarded for the year ended 31 March 2025 and 3 months of the grant awarded as extension of the funding which will run to August 2025.

The Shared Prosperity Fund is in respect of three projects delivered in Ceredigion and Conwy with funding from the UK Government and in Wrexham through its Key Funds programme. The total received during the year to June 2025 is £135,979 and the projects are due to end during the next financial year by March 2026 at the latest.

F1 Grant Funding is for the F1 activity delivered in primary schools and is from the Welsh Government Innovation Team totalling £33,050 received and spent during the year.

Pen Y Cymoedd Community Fund project was delivered during the 2023-24 academic year with total expenditure of £16,871 actual costs claimed for delivery of EESW's wind turbine workshops to primary and secondary schools in the Pen Y Cymoedd funded regions of Rhondda, Cynon, Neath and Afan areas. The remainder of the project was delivered and the balance of the funding £7,881 was drawn down during this period.

During the period, the Charity obtained funding through CSconnected from the Cardiff Capital Region and the Strength in Places Fund to deliver primary and secondary school workshops. The funding will currently run to January 2026.

The Royal Society of Chemistry primary schools project came to an end within the period, and the project was extended to offer secondary schools a project during the 2024-25 academic year and the first part of the funding was received during the period, totalling £9,979.60.

The Charity also received funding from Bridgend County Borough Council through their Quickstart programme to employ two placement staff to February 2025. Both staff were retained within the Charity following the end of the funding.

EMPLOYEE BENEFIT OBLIGATIONS

The company operates a defined contribution pension scheme. Amounts owed at the year end amounted to £1,735 (2024 - £2,082) and are included in creditors.

continued...

Engineering Education Scheme Wales Ltd

Notes to the Financial Statements - continued for the Year Ended 30 June 2025

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2025.

MEMBERS FUNDS

The liability of the members is limited to £10 during membership, or within one year after resignation, as may be required on the occasion of the winding up of the company. There were 11 members at 30 June 2025 and 3 appointments and 0 resignations during the year (2024 - 8 members, 0 appointments and 1 resignations).

2025-06-30-accounts

Report of the Trustees and

for

Report of the Trustees

STRATEGIC REPORT

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

REFERENCE AND ADMINISTRATIVE DETAILS

Report of the Trustees

STRUCTURE, GOVERNANCE AND MANAGEMENT

Mission and Public Benefit Statement

Trustee and principal officers information

Related parties

Risk Assessment

ACHIEVEMENTS AND PERFORMANCE

Activities

FINANCIAL REVIEW

Reserves policy

Investment policy

Review of transactions and financial position

Report of the Trustees

FUTURE DEVELOPMENTS

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Responsibilities and basis of report

Radnor House

Mi loge

Statement of Financial Activities

CONTINUING OPERATIONS

Engineering Education Scheme Wales Ltd

Balance Sheet

The trustees acknowledge their responsibilities for

Cash Flow Statement for the Year Ended 30 June 2025

2. ANALYSIS OF CHANGES IN NET FUNDS

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Income

iii) Trading income is included when receivable.

Expenditure

Tangible fixed assets

Taxation

Fund accounting

Pension costs and other post-retirement benefits

GRANTS AND DONATIONS

NET INCOME/(EXPENDITURE)

5. TRUSTEES' REMUNERATION AND BENEFITS

Trustees’ expenses

6.

STAFF COSTS

Key management personnel

13. MOVEMENT IN FUNDS- continued

Comparatives for movement in funds

13. MOVEMENT IN FUNDS- continued

13. MOVEMENT IN FUNDS- continued

15. RELATED PARTY DISCLOSURES