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← Ebp South Ltd

2024-07-31-accounts

REGISTERED COMPANY NUMBER: 03352250 (England and Wales) REGISTERED CHARITY NUMBER: 1146880

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

EBP SOUTH LTD

Gibson Whitter Limited Statutory Auditors Larch House Parklands Business Park Denmead Hampshire PO7 6XP

EBP SOUTH LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

Page
Report of the Trustees 1 to 7
Report of the Independent Auditors 8 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 25

EBP SOUTH LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

This report covers the work of EBP South for the full year of 1 August 2023 - 31 July 2024.

OBJECTIVES AND ACTIVITIES

The objects of EBP South are:

For the public benefit to advance, promote and assist in the effective education and development of young people and adults in order to deliver their individual capabilities, competencies, skills and understanding in subjects of educational value including careers and life skills, together with collaboration with local businesses and business organisations in England and Wales in such ways as the charity trustees think fit.

The Trustee Directors confirm that they have referred to the guidance contained in the Charity Commission's general guidance.

Our Mission is To Inspire and Prepare Young People for the World of Work.

We reviewed our strategic direction in 2022/23 and agreed a new Goal-Directed Plan to run to July 2025, setting the following strategic goals:

1. People and Culture: Goal: To have a high performing team that delivers best in class services.

2. Marketing and Business Relationship Development: Goal: To increase our income and volunteer bank by retaining and expanding our customer base. To raise the profile and reach of EBP South.

3. Business Capability and Innovation Goal: To improve our skills and capabilities with the vision to become a more agile business.

4. Growth:

Page 1

EBP SOUTH LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

ACHIEVEMENT AND PERFORMANCE

Impact of our work

2023/24 was another successful year for EBP South, and we saw continued growth in demand from schools for our careers information, advice and guidance support, carrying out 1000 more interviews and delivering almost 1500 additional careers interactions compared to 2022/23. Demand for work experience and work-related learning declined slightly and as ever we continue to review our offering. We remain one of the most significant providers of work experience in the south of England, placing over 7000 young people with employers.

We continued to deliver a broad range of programmes to inspire and prepare young people for the world of work, starting with our successful STEM-focused primary school events in Basingstoke and Lee-on-the-Solent. Our secondary school Inspiring STEM event, in its second year, was well-received by both participating businesses and schools. Business volunteers remain crucial to the success of our in-school work-related learning programmes such as Business Speed Networking and Employer Interviews.

A further achievement saw us winning 'Not-for-Profit of the Year' at the Hampshire Business Awards in November 2023, a testament to the hard work and dedication of our whole team.

The table below shows the actual numbers of young people reached across some of our programmes in 2023/24 compared to 2022/23. We saw increased business for careers guidance, working across 46 educational establishments, compared to 40 in 2022/23, and we carried out 15% more careers interviews on 2022/23.

Numbers of young people
engaged in the following Numbersfor Numbersfor
activities 2022/23 2023/24
Careers Guidance Interviews 6,833 7,879
Work Related Learning 7,434 6,113
Work Placements 8,114 7,067
Supported Work Placements 120 97
Careers Inspiration Events 3,305 2,719
Employer Engagement Project 1,872 1,455
TOTAL 27,678 25,330

Page 2

EBP SOUTH LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

FINANCIAL REVIEW

We are pleased to report that after a return to surplus in 2021/22 and 2022/23 we were able to continue to deliver a positive financial outturn again in 2023/24.

In 2023/24 we continued to deliver a solid financial performance, with income generated very slightly down at £1,020,625 compared to £1,045,313 the previous year. At the same time, despite growing cost pressures our expenditure grew by just 1.5% from £974,190 to £988,912 This resulted in a third successive year of surplus at £31,713.

The Trustee Directors consider that the underlying position exceeds the budget expectations at the beginning of 2023/24, that the state of finances of EBP South is satisfactory, and that the charitable company's assets are available and adequate to fulfil their obligations.

EBP South has recorded an overall surplus of £31,713 for 2023/24.

Reserves

EBP South's reserves policy is to hold sufficient free reserves to enable the charity to:

The balance of the free reserves at 31 July 2024 is £181,389. This compares to £40,705 three years ago, so our reserves have grown significantly over that period, and we are in a much more financially resilient position. We now have sufficient reserves to manage a solvent wind-up, should that be required (i.e., £120,000). In the medium term the Board aims to hold sufficient reserves valued at three month's operational delivery (i.e., £260,000).

The current level of free reserves is £181,389 which the Trustee Directors consider to be adequate to fulfil their obligations. Free reserves represent total unrestricted funds less the net book value of functional fixed assets.

Principal Funding Sources

EBP South secures almost 75% of income through Service Level Agreements from schools and colleges. The remaining funding is secured through grants, contracts to deliver services within its charitable objectives, and business sponsorship and investment. We would particularly like to acknowledge Basingstoke and Deane Borough Council for their ongoing strategic grant support, CABWI, Garfield Weston and The Hearn Foundation for their grants, and the many businesses who support and sponsor our events and activities.

Material Investments

No material investments are held by EBP South Ltd.

Page 3

EBP SOUTH LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

REVIEW OF OPERATIONS

After a welcome return to financial surplus in 2021/22 and 2022/23, we had another positive year in 2023/24.

Demand for careers, information, advice and guidance continued to grow and we delivered our largest ever number of careers interviews. We also continued to see solid demand for our work experience (WEX) service and it was good to see businesses remained supportive of this programme.

Continued support from The Hearn Foundation enabled us to grow our Employer Engagement Project (EEP) engaging with new businesses to deliver the programme in more schools. Support from CABWI enabled us to continue to deliver our Supported Work Experience programme, though this programme has now ended and the funding will support a Work Readiness Programme from September 2024-March 2025.

Our business development activity continued to see benefits, with several high-profile companies supporting EBP South, such as AWE, Barratt Developments, and Roke.

Over the period covered by this report we continued to focus on growing our profile in terms of our marketing and communications provision, increasing our reach on social media and other channels, leading to much greater engagement across a range of platforms.

The year also saw us continuing to refresh our Board of Trustees with new members. They came from a range of business and education backgrounds and ensured that the charity was well-supported and advised.

For 2024/25 we are optimistic about growth in demand for our careers information, advice and guidance, while recognising the tight jobs market for these key roles. We continue to see solid demand for our work experience provision and having reviewed our Support Work Experience are now exploring development of a Work Readiness Programme. Business development remains quite challenging in terms of attracting businesses to sponsor or partner our events, but the work carried out in recent years means we have many more businesses in our recruitment pipeline. The growing importance of ESG (Environmental, Social, Guidance) issues for businesses, along with prioritising of social value and equality, diversity and inclusion put us in a good position where business development and support are concerned.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

EBP South Ltd was incorporated as Portsmouth & South East Hampshire Education Business Partnership Ltd on 14th April 1997 and became a registered Charity on 13th April 2012. On 21st May 2015 the name was changed to EBP South Ltd. The charitable company's governing document is its memorandum and articles of association adopted on 15th March 2012.

Recruitment, appointment and training of new trustees

The Board of Trustee Directors includes representation from the business, education, and public sector. The aim of the Board is to ensure good representation of these sectors, whose views are fundamental to the direction and activity of EBP South together with the right blend of skills appropriate for the strategic management of the charitable company. Trustee directors are recruited from organisations that support our key stakeholders including schools, colleges, university, local businesses, and local authorities and represent the geographic coverage of EBP South.

Each new Trustee Director receives an induction pack containing background information on EBP South, our Articles of Association, our five-year strategy and current business plan, financial statements, and information about the expectations of a Trustee Director.

Trustee Directors take lead responsibilities for particular policy areas such as health & safety, safeguarding, etc and support individual members of staff according to their skill area. This year, following a detailed skills analysis, the Board recruited three new Trustee Directors who have expertise in finance and business development.

Page 4

EBP SOUTH LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

Day to day responsibility for running EBP South is delegated to the Chief Executive who is supported by two senior managers.

This year, given a healthier financial position, the Board met on a bi-monthly basis, although the Finance Sub-Committee continued to meet monthly, reporting to the Board. The Board also holds occasional strategic planning days with the Management Team.

Trustee Directors are responsible for:

Managers report to and attend Board meetings.

Related parties

EBP South has an alliance with Hampshire Chamber of Commerce which involves sharing information about related events, organising jointly branded events and promotion of each other's work.

We align our work with the Careers and Enterprise Company's activity to promote high quality careers programmes in schools, through the Gatsby Benchmarks.

Trustee Directors represent many of the organisations we work with and as such, may buy services from either organisation or be involved in joint activities. A register of interests of Trustee Directors is held and a declaration of interests is taken at each Board meeting.

Risk management

The Board are aware of their responsibilities to mitigate the major risks to which the charity is exposed and to ensure that its aims and objectives are not under threat. An analysis of risk is undertaken and regularly updated through our Risk Register which is reviewed annually by the Board.

Detailed risk assessments are carried out on all aspects of the organisations' activities and the Board receives regular reports on health & safety and safeguarding including a report on 'near misses'. Significant areas of risk are reviewed by the Board at all meetings. Following Covid 19, additional risk assessments have been carried out in line with government guidance and the Covid 19 impact is a thread throughout our risk register.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03352250 (England and Wales)

Registered Charity number

1146880

Registered office

1000 Lakeside North Harbour Western Road Portsmouth Hampshire PO6 3EN

Page 5

EBP SOUTH LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

Trustees

Sarah Kavanagh - Chair Chris Anders Elizabeth Clarke Peter Grant Barry Lamacraft Jane Aplin (resigned 14/03/2024) Simon Bittlestone Claire Craigie (resigned 14/03/2024) Matthew Samuel-Camps Terry Buckel (resigned 14/03/2024) Harry Kutty Adam Lupton

Chief Executive

Richard Kennett

Auditors

Gibson Whitter Limited Statutory Auditors Larch House Parklands Business Park Denmead Hampshire PO7 6XP

Solicitors

Belcher Frost 3 West Street Emsworth Hampshire PO10 7DX

Bankers

HSBC 18 London Road North End Portsmouth Hampshire PO2 0LL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of EBP South 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 which 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

Page 6

EBP SOUTH LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

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.

In so far as the trustees are aware:

Approved by order of the board of trustees on 29 November 2024 and signed on its behalf by:

Mrs S Kavanagh - Trustee

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF EBP SOUTH LTD

Opinion

We have audited the financial statements of EBP South Ltd (the 'charitable company') for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF EBP SOUTH LTD

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF EBP SOUTH LTD

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the charitable company and sector, we identified that the principal risks of non-compliance with laws and regulations related to breaches of employment law, data protection and anti-bribery and corruption legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Charities acts, Companies Act 2006 and UK tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to overstate profit and management bias in accounting estimates. Audit procedures performed by the engagement team included:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF EBP SOUTH LTD

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Gavin Whitter (Senior Statutory Auditor) for and on behalf of Gibson Whitter Limited Statutory Auditors Larch House Parklands Business Park Denmead Hampshire PO7 6XP

9 December 2024

Page 11

EBP SOUTH LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Work related learning and careers guidance
Investment income
3
Total
EXPENDITURE ON
Charitable activities
5
Work related learning and careers guidance
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
1,894
910,702
343
912,939
881,226
31,713
156,290
188,003		 Restricted
funds
£
-
107,686
-
107,686
107,686
-
-
-		 31.7.24
Total
funds
£
1,894
1,018,388
343
1,020,625
988,912
31,713
156,290
188,003		 31.7.23
Total
funds
£
1,300
1,043,518
495
1,045,313
974,109
71,204
85,086
156,290

The notes form part of these financial statements

Page 12

EBP SOUTH LTD

BALANCE SHEET 31 JULY 2024

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Debtors
14
Cash at bank
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
16
NET ASSETS
FUNDS
20
Unrestricted funds
TOTAL FUNDS		 31.7.24
£
6,614
47,391
222,442
269,833
(77,934)
191,899
198,513
(10,510)
188,003
188,003
188,003		 31.7.23
£
5,251
108,913
255,468
364,381
(192,588)
171,793
177,044
(20,754)
156,290
156,290
156,290

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the Board of Trustees and authorised for issue on 29 November 2024 and were signed on its behalf by:

Mrs S Kavanagh - Trustee

The notes form part of these financial statements

Page 13

EBP SOUTH LTD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Interest element of hire purchase or
finance lease rental payments paid
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Capital repayments in year
Net cash used in financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 31.7.24
£
(18,997)
(657)
-
(19,654)
(3,724)
343
(3,381)
(9,991)
-
(9,991)
(33,026)
255,468
222,442		 31.7.23
£
(34,937)
(903)
(25)
(35,865)
(3,134)
495
(2,639)
(9,746)
(187)
(9,933)
(48,437)
303,905
255,468

The notes form part of these financial statements

Page 14

EBP SOUTH LTD

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
31.7.24 31.7.23
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 31,713 71,204
Adjustments for:
Depreciation charges 2,361 3,489
Interest received (343) (495)
Interest paid 657 903
Interest element of hire purchase and finance lease rental payments - 25
Decrease/(increase) in debtors 61,522 (51,128)
Decrease in creditors (114,907) (58,935)
Net cash used in operations (18,997) (34,937)
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.8.23 Cash flow At 31.7.24
£ £ £
Net cash
Cash at bank and in hand 255,468 (33,026) 222,442
255,468 (33,026) 222,442
Debt
Debts falling due within 1 year (9,993) (253) (10,246)
Debts falling due after 1 year (20,754) 10,244 (10,510)
(30,747) 9,991 (20,756)
Total 224,721 (23,035) 201,686

The notes form part of these financial statements

Page 15

EBP SOUTH LTD

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

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 2015)', 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

Voluntary income including donations, gifts and legacies and grants that provide core funding or are of a general nature are recognised where there is entitlement, receipt is probably and the amount can be measured with sufficient reliability. Such income is only deferred when:

Investment income is recognised on a receivable basis.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific conditions is recognised as earned (as the related goods and services are provided). Grant income included in this category provides funding to support activities and is recognised where there is entitlement, receipt is probable and the amount can be measured with sufficient reliability.

Volunteers and donated services

The value of services provided by volunteers is not incorporated into these financial statements.

Where goods or services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.

Expenditure

Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied.

Irrecoverable VAT

All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property - 20% on cost Fixtures and fittings - 25% on cost and over the period of the lease

Individual fixed assets costing £300 or more are capitalised at cost.

Page 16

continued...

EBP SOUTH LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

1. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

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.

2. DONATIONS AND LEGACIES

Donations
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Sponsorships
SLA income
Grants
Contributions to events		 31.7.24
£
1,894
31.7.24
£
343
31.7.24
Work
related
learning
and
careers
guidance
£
94,750
747,049
152,019
24,570
1,018,388		 31.7.23
£
1,300
31.7.23
£
495
31.7.23
Total
activities
£
121,536
724,813
166,648
30,521
1,043,518

Page 17

continued...

EBP SOUTH LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

4. INCOME FROM CHARITABLE ACTIVITIES - continued

Grants received, included in the above, are as follows:

31.7.24
£
Basingstoke & Dean Council
36,000
The Hearn Foundation
72,686
Garfield & Weston
8,333
CABWI
35,000
Miller Homes
-
152,019
5.
CHARITABLE ACTIVITIES COSTS
Direct
Support
Costs (see
costs (see
note 6)
note 7)
£
£
Work related learning and careers
guidance
722,007
266,905
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
31.7.24
£
Staff costs
650,352
Resources
65,794
Administrative expenses
3,864
Consultancy
1,997
722,007
7.
SUPPORT COSTS
Governance
Management
costs
£
£
Work related learning and careers
guidance
262,405
4,500
Support costs, included in the above, are as follows:
Management
31.7.24
Work
related
learning
and
careers
guidance
£
Staff costs
121,941
Rent, rates and service charge
41,786
Insurance
5,275
Telephone
11,171
Carried forward
180,173		 31.7.23
£
36,000
67,481
30,000
31,667
1,500
166,648
Totals
£
988,912
31.7.23
£
641,692
63,555
4,926
8,934
719,107
Totals
£
266,905
31.7.23
Total
activities
£
124,507
41,472
5,178
6,293
177,450

Page 18

continued...

EBP SOUTH LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

7. SUPPORT COSTS - continued

Management - continued

Brought forward
Postage and stationery
Printing, marketing and advertising
Sundries
Travel and allowances
Equipment maintenance
Irrecoverable VAT
Professional fees
Other staff costs
Depreciation of tangible fixed assets
Bank loan interest
Finance lease interest
Equipment hire
Governance costs
Auditors' remuneration
8.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 31.7.24
Work
related
learning
and
careers
guidance
£
180,173
991
5,607
815
23,313
6,291
15,963
9,209
15,611
2,361
657
-
1,414
262,405
31.7.24
Work
related
learning
and
careers
guidance
£
4,500
31.7.24
£
2,361		 31.7.23
Total
activities
£
177,450
799
5,423
593
23,529
4,819
14,956
6,321
10,994
3,489
903
25
1,201
250,502
31.7.23
Total
activities
£
4,500
31.7.23
£
3,489

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

9. AUDITORS' REMUNERATION

31.7.24 31.7.23
£ £
Fees payable to the charity's auditors
For audit services
Audit of the financial statements of the group and company 4,500 4,500
Preparation of VAT returns 600 610
5,100 5,110

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable
Support
No employee received emoluments in excess of £60,000 (31.7.23: None).
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,300
Charitable activities
Work related learning and careers
guidance
944,370
Investment income
495
Total
946,165		 31.7.24
£
704,836
47,884
19,573
772,293
31.7.24
32
6
38
Restricted
funds
£
-
99,148
-
99,148		 31.7.23
£
702,853
45,110
18,236
766,199
31.7.23
34
6
40
Total
funds
£
1,300
1,043,518
495
1,045,313

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

EXPENDITURE ON

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12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
funds
£
£
Charitable activities
Work related learning and careers
guidance
874,961
99,148
NET INCOME
71,204
-
RECONCILIATION OF FUNDS
Total funds brought forward
85,086
-
TOTAL FUNDS CARRIED FORWARD
156,290
-
13.
TANGIBLE FIXED ASSETS
Improvements
Fixtures
to
and
property
fittings
£
£
COST
At 1 August 2023
32,736
84,339
Additions
-
3,724
At 31 July 2024
32,736
88,063
DEPRECIATION
At 1 August 2023
32,736
79,088
Charge for year
-
2,361
At 31 July 2024
32,736
81,449
NET BOOK VALUE
At 31 July 2024
-
6,614
At 31 July 2023
-
5,251		 Total
funds
£
974,109
71,204
85,086
156,290
Totals
£
117,075
3,724
120,799
111,824
2,361
114,185
6,614
5,251

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Fixtures
and
fittings
£
COST
At 1 August 2023 and 31 July 2024 4,504
DEPRECIATION
At 1 August 2023 and 31 July 2024 4,504
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

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14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Trade debtors 31,691 89,048
Other debtors 2,055 2,055
Prepayments 13,645 14,810
Accrued income - 3,000
47,391 108,913
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Bank loans and overdrafts (see note 17) 10,246 9,993
Trade creditors 15,382 9,915
Social security and other taxes 11,625 17,250
Other creditors 4,128 122,271
Accrued expenses 6,041 4,346
Deferred income 30,512 28,813
77,934 192,588
Deferred income
Deferred income comprises £nil (31.7.23: £6,000) for sponsorship income, £28,500 (31.7.23: £5,8 3
for grant income and £2,011 (31.7.23: £16,980) for SLA income received in the year which will
released to income in future financial periods.
31.7.24 31.7.23
£ £
Balance brought forward 28,813 37,209
Amount release to incoming resources (28,813) (37,209)
Amount deferred in the year 30,511 28,813
Balance carried forward 30,511 28,813
16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£ £
Bank loans (see note 17) 10,510 20,754
17. LOANS
An analysis of the maturity of loans is given below:
31.7.24 31.7.23
£ £
Amounts falling due within one year on demand:
Bank loans 10,246 9,993
Amounts falling due between two and five years:
Bank loans - 2-5 years 10,510 20,754

Deferred income comprises £nil (31.7.23: £6,000) for sponsorship income, £28,500 (31.7.23: £5,833) for grant income and £2,011 (31.7.23: £16,980) for SLA income received in the year which will be released to income in future financial periods.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
19.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
6,614
-
Current assets
269,833
-
Current liabilities
(77,934)
-
Long term liabilities
(10,510)
-
188,003
-
20.
MOVEMENT IN FUNDS
At 1.8.23
£
Unrestricted funds
General fund
156,290
TOTAL FUNDS
156,290
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
912,939
Restricted funds
CABWI grant
35,000
Hearn Foundation grant
72,686
107,686
TOTAL FUNDS
1,020,625		 31.7.24
£
22,461
67,512
89,973
31.7.24
Total
funds
£
6,614
269,833
(77,934)
(10,510)
188,003
Net
movement
in funds
£
31,713
31,713
Resources
expended
£
(881,226)
(35,000)
(72,686)
(107,686)
(988,912)		 31.7.23
£
9,771
8,963
18,734
31.7.23
Total
funds
£
5,251
364,381
(192,588)
(20,754)
156,290
At
31.7.24
£
188,003
188,003
Movement
in funds
£
31,713
-
-
-
31,713

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

20. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above
Unrestricted funds
General fund
Restricted funds
CABWI grant
Hearn Foundation grant
TOTAL FUNDS		 At 1.8.22
£
85,086
85,086
are as follows:
Incoming
resources
£
946,165
31,667
67,481
99,148
1,045,313		 Net
movement
in funds
£
71,204
71,204
Resources
expended
£
(874,961)
(31,667)
(67,481)
(99,148)
(974,109)		 At
31.7.23
£
156,290
156,290
Movement
in funds
£
71,204
-
-
-
71,204

CABWI grant

CABWI are the awarding body for the water and utilities industry, awarding a grant to support the extended work experience programme which includes the following schemes:

Hearn Foundation grant

The grant has been awarded for the Employer Engagement Programme (EEP). The EEP project aims to assist pupils in understanding how what is learned in the classroom is relevant to the world of work which helps to engage and focus young people in school curriculum.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

21. EMPLOYEE BENEFIT OBLIGATIONS

The charitable company operates a defined contribution pension scheme for all salaried employees. Contributions to the scheme are independently administered by Aviva Life Assurance Limited. The pension charge for the period was £19,573 (31.7.23: £18,236). At the balance sheet date the contributions outstanding were £3,964 (31.7.23: £3,906).

22. RELATED PARTY DISCLOSURES

Certain trustee directors were associated with organisations which undertook transactions with the charitable company. All such transactions were undertaken in accordance with the charitable company's normal agreements with suppliers. None of the relevant trustee directors were in a position of material influence within the organisations concerned such that transactions between the charitable company and the organisations require disclosure in the financial statements.

In carrying out its principal activity the charitable company provides support and advice to organisations throughout South Hampshire and from time to time that has included organisations in which trustee directors have an interest. As these transactions were in the normal course of business and their value is not material to either party they have not been disclosed.

Key management

The total remuneration paid to those considered key management during the year was £123,740 (31.7.23: £126,545).

23. ULTIMATE CONTROLLING PARTY

The charitable company is not under the control of another entity or any one individual.

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