Charity registration number 1153424
Company registration number 07746913 (England and Wales)
THE EAST DURHAM EMPLOYABILITY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
THE EAST DURHAM EMPLOYABILITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Meryl Levington |
|---|---|
| Sally Waterston | |
| Denis Ford | |
| Sally Hancox | |
| Charity number | 1153424 |
| Company number | 07746913 |
| Registered office | 3 Palmer Road |
| South West Industrial Estate | |
| Peterlee | |
| SR8 2HU | |
| Independent examiner | RMT Accountants & Business Advisors Ltd |
| Gosforth Park Avenue | |
| Newcastle upon Tyne | |
| NE12 8EG | |
| Bankers | Barclays Bank PLC |
| Leicester | |
| Leicestershire | |
| LE87 2BB |
THE EAST DURHAM EMPLOYABILITY TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 6 |
| Balance sheet | 7 - 8 |
| Notes to the financial statements | 9 - 19 |
THE EAST DURHAM EMPLOYABILITY TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JANUARY 2022
The trustees present their annual report and financial statements for the year ended 31 January 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The charity's objects are as follows:
The relief of unemployment for the benefit of the public in such ways as maybe thought fit, including assistance to find employment.
The promotion of urban or rural regeneration in areas of social and economic deprivation, and in particular East
Durham, by all or any of the following means:
-
The advancement of education, training or retraining, particularly among unemployed people and
-
providing those individuals with works experience;
-
The creation of training and employment opportunities by the provision of workspace, buildings and/or land for use on favourable terms;
-
The provision of financial assistance, technical assistance, business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or charitable need through help:
-
a) in setting up their own business
-
b) to existing businesses; or
-
c) by such other means as may from time to time be determined subject to prior written consent of
-
11111 the Charity Commissioners for England and Wales.
Public benefit that is provided by the charity
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Review of charitable activities undertaken by the charity
The East Durham Employability Trust has continued with our mission to maximise the potential of individuals whilst adding value to industry by responsively developing skills and attitudes to match local industry needs. Despite the ongoing restrictions of the Covid-19 pandemic in the first part of the financial year, we were able to restart our Destination Employment programme and invite candidates to join us once again. We also utilised the government Kickstart Scheme which enabled us to employ an additional 7 young people. Despite the funding only covering 25 hours per week, we were able to provide full time employment and even overtime for these candidates, all of whom had their contracts extended, 3 of which were made permanent employees. We hope to expand upon our services in the coming year, increasing work experience placements and diversifying our training potential further by attracting new customers in different sectors to provide a variety of contracts on which our candidates can be trained.
Financial review
Review of financial position
The accounts are set out on pages 5 to 19.
Policies on reserves
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at levels sufficient to enable the charity to continue with its core activities. equivalent to between three and six month’s expenditure. The trustees consider that there is currently a deficit on unrestricted reserves and are actively seeking new sources of funding.
Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular the financial and operational risks, and are satisfied that systems are in place to mitigate exposure to the major risks. In light of the COVID-19 pandemic, during 2020/21 the Trustees will be reviewing the risk register at each Board meeting.
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THE EAST DURHAM EMPLOYABILITY TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)(CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
Plans for future periods
The board of trustees is looking at ways in which to expand the income generating activities of the charity along with seeking funding from local businesses and government bodies. We also wish to add to our Board of Trustees to provide a more diverse and inclusive Board with a wider variety of skills and experiences.
Structure, governance and management
Nature of governing document and constitution of the charity
The charity is a company limited by guarantee and is therefore governed by a memorandum and articles of association. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Meryl Levington Sally Waterston Denis Ford Sally Hancox
Recruitment and appointment of trustees
In the governing documents of the charity there is no maximum number of trustees set, but there should, at any one time, be in place a minimum of three trustees which represents the quorum. A trustee must be over 18 years of age.
Potential trustees are recruited through recommendation, referral or advertisement where a skills shortage has been identified. Potential trustees in the first instance will be met by the CEO and given an overview of the organisation. Following this they will be interviewed by two members of the board and if successful they will be invited to attend the next available board meeting.
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THE EAST DURHAM EMPLOYABILITY TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)(CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
Statement of trustees' responsibilities
The trustees, who are also the directors of The East Durham Employability Trust for the purpose of company law, are responsible for preparing the Trustees' Report 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these 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 UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' report was approved by the Board of Trustees.
Sally Waterston Trustee
Dated: 19 October 2022
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THE EAST DURHAM EMPLOYABILITY TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE EAST DURHAM EMPLOYABILITY TRUST
I report to the trustees on my examination of the financial statements of The East Durham Employability Trust (the charity) for the year ended 31 January 2022.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
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3 the financial statements 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
-
4 the financial statements 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).
I 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 financial statements to be reached.
RMT Accountants & Business Advisors Ltd Stephen Slater FCA Gosforth Park Avenue Newcastle upon Tyne NE12 8EG
Dated: 19 October 2022
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THE EAST DURHAM EMPLOYABILITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2022
| Current financial year | Current financial year | Current financial year | Total 2021 £ 107,130 404,388 13 511,531 530,561 8,198 538,759 |
|
|---|---|---|---|---|
| Unrestricted Unrestricted funds funds general designated 2022 2022 Notes £ £ |
Total | |||
| funds funds general designated |
||||
| 2022 | 2022 | 2022 | ||
| £ | £ | £ | ||
| Income from: | ||||
| Donations and legacies 3 |
84,890 | - | 84,890 | |
| Charitable activities 4 |
433,836 | - | 433,836 | |
| Investments 5 |
6 | - | 6 | |
| Total income | 518,732 | - | 518,732 | |
| Expenditure on: | ||||
| Charitable activities 6 |
495,778 | 993 | 496,771 | |
| Other 10 |
10,019 | - | 10,019 | |
| Total resources expended Net income/(expenditure) for the year/ |
||||
| 505,797 | 993 | 506,790 | ||
| 12,935 | 11,942 | |||
| Net movement in funds | (993) | (27,228) | ||
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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THE EAST DURHAM EMPLOYABILITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2022
Prior financial year
| Unrestricted Unrestricted funds funds general designated 2021 2021 Notes £ £ |
Unrestricted Unrestricted funds funds general designated 2021 2021 Notes £ £ |
Unrestricted Unrestricted funds funds general designated 2021 2021 Notes £ £ |
Total 2021 £ 107,130 404,388 13 511,531 530,561 8,198 538,759 |
|---|---|---|---|
| funds funds general designated |
|||
| 2021 | 2021 | ||
| £ | £ | ||
| Income from: | |||
| Donations and legacies 3 |
107,130 | - | |
| Charitable activities 4 |
404,388 | - | |
| Investments 5 |
13 | - | |
| Total income | 511,531 | - | |
| Expenditure on: | |||
| Charitable activities 6 |
523,026 | 7,535 | |
| Other 10 |
8,198 | - | |
| Total resources expended 531,224 Net income/(expenditure) for the year/ Net movement in funds (19,693) Fund balances at 1 February 2020 (158,740) Fund balances at 31 January 2021 (178,433) |
|||
| 531,224 | 7,535 | ||
| (19,693) | (7,535) | (27,228) | |
| 9,190 (149,550) 1,655 (176,778) |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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THE EAST DURHAM EMPLOYABILITY TRUST
BALANCE SHEET
AS AT 31 JANUARY 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 11 | 5,218 | 8,138 | ||
| Current assets | |||||
| Stocks | 12 | 40,285 | 22,591 | ||
| Debtors | 13 | 109,701 | 70,970 | ||
| Cash at bank and in hand | 40,438 | 51,523 | |||
| 190,424 | 145,084 | ||||
| Creditors: amounts falling due within | |||||
| one year | 15 | (164,250) | (120,847) | ||
| Net current assets | 26,174 | 24,237 | |||
| Total assets less current liabilities | 31,392 | 32,375 | |||
| Creditors: amounts falling due after | |||||
| more than one year | 16 | (196,228) | (209,153) | ||
| Net liabilities | (164,836) | (176,778) | |||
| Income funds | |||||
| Unrestricted funds | |||||
| Designated funds | 17 | 662 | 1,655 | ||
| General unrestricted funds | (165,498) | (178,433) | |||
| (164,836) | (176,778) | ||||
| (164,836) | (176,778) |
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THE EAST DURHAM EMPLOYABILITY TRUST
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2022
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 January 2022.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 19 October 2022
Sally Waterston
Trustee
Company registration number 07746913
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THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
1 Accounting policies
Charity information
The East Durham Employability Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Palmer Road, South West Industrial Estate, Peterlee, SR8 2HU.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's memorandum and articles of association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. This includes taking into account the potential impact of COVID-19 to ensure that cashflow is positively managed and the impact to the charity’s operations are mitigated. The Board has concluded that the going concern assumption is appropriate in preparing these financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Resources expended
All expenditure is accounted for on an accrual basis and has been classified under the headings that aggregate all costs to that category. Charitable activity costs includes expenditure relating to the operation of the charity and includes both direct and support costs relating to those activities. Support costs include central function expenditure and are allocated on the basis of staff allocated to each activity. Governance costs include those incurred in the governance of the charity and its assets, and are primarily associated with constitutional and statutory requirements.
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THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
| Leasehold land and buildings | 20% straight line |
|---|---|
| Plant and equipment | 20% straight line |
| Fixtures and fittings | 15% straight line |
| Motor vehicles | 20% straight line |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
- 1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13 Leases
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
Assessing indicators of impairment
In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions and experience of recoverability.
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THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
2 Critical accounting estimates and judgements (Continued)
Key sources of estimation uncertainty
Determining residual values and useful economic lives of tangible fixed assets
The company depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.
Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value trustees aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.
3 Donations and legacies
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Donations and gifts | 13,966 | 9,225 |
| Grants receivable | 70,924 | 97,905 |
| 84,890 | 107,130 | |
| Grants receivable for core activities | ||
| Job Retention Scheme funding | 13,361 | 46,176 |
| Other | 57,563 | 51,729 |
| 70,924 | 97,905 |
4 Charitable activities
| Sales of services by beneficiaries Ancillary trading income |
2022 | 2021 |
|---|---|---|
| £ | £ | |
| 358,252 | 327,379 | |
| 75,584 | 77,009 | |
| 433,836 | 404,388 |
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THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
| 5 Investments |
||
|---|---|---|
| Interest receivable | ||
| 2022 | 2021 | |
| £ | £ | |
| 6 | 13 | |
| 6 Charitable activities |
||
| Purchases Carriage Share of support costs (see note 7) Share of governance costs (see note 7) Analysis by fund Unrestricted funds - general Unrestricted funds - designated |
||
| 2022 | 2021 | |
| £ | £ | |
| 29,672 | 35,003 | |
| 15,550 | 16,511 | |
| 45,222 | 51,514 | |
| 449,899 | 477,397 | |
| 1,650 | 1,650 | |
| 496,771 | 530,561 | |
| 495,778 | 523,026 | |
| 993 | 7,535 | |
| 496,771 | 530,561 |
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THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
7 Support costs
| Support costs | ||||||
|---|---|---|---|---|---|---|
| Support costs Governance costs |
2022 |
Support costs Governance costs |
2021 | |||
| £ | £ | £ | £ | £ | £ | |
| Staff costs | 282,026 | - | 282,026 | 306,784 | - | 306,784 |
| Depreciation | 4,849 | - | 4,849 | 11,654 | - | 11,654 |
| Training fees | 400 | - | 400 | - | - | - |
| Premises costs | 69,203 | - | 69,203 | 76,215 | - | 76,215 |
| General administration expenses |
||||||
| 49,183 | - | 49,183 | 54,972 | - | 54,972 | |
| Equipment rentals and repairs |
||||||
| 18,862 | - | 18,862 | 12,101 | - | 12,101 | |
| Motor expenses | 2,065 | - | 2,065 | 889 | - | 889 |
| Travel, subsistence and entertaining |
||||||
| 12,501 | - | 12,501 | 3,316 | - | 3,316 | |
| Accountancy | 6,740 | - | 6,740 | 6,560 | - | 6,560 |
| Legal and professional | 300 | - | 300 | 1,166 | - | 1,166 |
| Subscriptions | 3,142 | - | 3,142 | 2,351 | - | 2,351 |
| Sundries | 628 | - | 628 | 1,389 | - | 1,389 |
| Independent examination | - | 1,650 | 1,650 | - | 1,650 | 1,650 |
| 449,899 | 1,650 | 451,549 | 477,397 | 1,650 | 479,047 | |
| Analysed between | ||||||
| Charitable activities | 449,899 | 1,650 | 451,549 | 477,397 | 1,650 | 479,047 |
All support cost have been allocated to the only charitable activity of the charity on the basis that no fundraising or other activities have been conducted during the year.
Governance costs includes payments to the independent examiners of £1,650 for the independent examination of the financial statements.
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
9 Employees
Number of employees
The average monthly number of employees during the year was:
| Number of employees The average monthly number of employees during the year was: |
||
|---|---|---|
| 2022 | 2021 | |
| Number | Number | |
| Charitable activities | 11 | 13 |
| Employment costs | 2022 | 2021 |
| £ | £ | |
| Wages and salaries | 261,759 | 284,197 |
| Social security costs | 16,457 | 18,385 |
| Other pension costs | 3,810 | 4,202 |
| 282,026 | 306,784 |
The charity considers its key management personnel comprises of the Chief Executive Officer. The total employment costs of the key management personnel were £60,000 (2020: £60,000).
The number of employees whose annual remuneration was £60,000 or more were:
| The number of employees whose annual remuneration was £60,000 or more were: | ||
|---|---|---|
| £60,000 - £70,000 | 2022 | 2021 |
| Number | Number | |
| 1 | 1 | |
| 10 Other |
||
| Net loss on disposal of tangible fixed assets Interest payable |
||
| 2022 | 2021 | |
| £ | £ | |
| - | 2,760 | |
| 10,019 | 5,438 |
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THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
11 Tangible fixed assets
| Leasehold land and buildings Plant and equipment Fixtures and fittings Motor vehicles £ £ £ £ Cost At 1 February 2021 36,490 38,059 11,080 3,000 Additions 1,400 529 - - At 31 January 2022 37,890 38,588 11,080 3,000 Depreciation and impairment At 1 February 2021 36,035 34,129 8,177 2,150 Depreciation charged in the year 722 1,807 1,720 600 At 31 January 2022 36,757 35,936 9,897 2,750 Carrying amount At 31 January 2022 1,133 2,652 1,183 250 At 31 January 2021 455 3,930 2,903 850 12 Stocks |
Leasehold land and buildings Plant and equipment Fixtures and fittings Motor vehicles £ £ £ £ Cost At 1 February 2021 36,490 38,059 11,080 3,000 Additions 1,400 529 - - At 31 January 2022 37,890 38,588 11,080 3,000 Depreciation and impairment At 1 February 2021 36,035 34,129 8,177 2,150 Depreciation charged in the year 722 1,807 1,720 600 At 31 January 2022 36,757 35,936 9,897 2,750 Carrying amount At 31 January 2022 1,133 2,652 1,183 250 At 31 January 2021 455 3,930 2,903 850 12 Stocks |
Leasehold land and buildings Plant and equipment Fixtures and fittings Motor vehicles £ £ £ £ Cost At 1 February 2021 36,490 38,059 11,080 3,000 Additions 1,400 529 - - At 31 January 2022 37,890 38,588 11,080 3,000 Depreciation and impairment At 1 February 2021 36,035 34,129 8,177 2,150 Depreciation charged in the year 722 1,807 1,720 600 At 31 January 2022 36,757 35,936 9,897 2,750 Carrying amount At 31 January 2022 1,133 2,652 1,183 250 At 31 January 2021 455 3,930 2,903 850 12 Stocks |
Leasehold land and buildings Plant and equipment Fixtures and fittings Motor vehicles £ £ £ £ Cost At 1 February 2021 36,490 38,059 11,080 3,000 Additions 1,400 529 - - At 31 January 2022 37,890 38,588 11,080 3,000 Depreciation and impairment At 1 February 2021 36,035 34,129 8,177 2,150 Depreciation charged in the year 722 1,807 1,720 600 At 31 January 2022 36,757 35,936 9,897 2,750 Carrying amount At 31 January 2022 1,133 2,652 1,183 250 At 31 January 2021 455 3,930 2,903 850 12 Stocks |
Leasehold land and buildings Plant and equipment Fixtures and fittings Motor vehicles £ £ £ £ Cost At 1 February 2021 36,490 38,059 11,080 3,000 Additions 1,400 529 - - At 31 January 2022 37,890 38,588 11,080 3,000 Depreciation and impairment At 1 February 2021 36,035 34,129 8,177 2,150 Depreciation charged in the year 722 1,807 1,720 600 At 31 January 2022 36,757 35,936 9,897 2,750 Carrying amount At 31 January 2022 1,133 2,652 1,183 250 At 31 January 2021 455 3,930 2,903 850 12 Stocks |
Total |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| 36,490 | 38,059 | 11,080 | 3,000 | 88,629 | |
| 1,400 | 529 | - | - | 1,929 | |
| 37,890 | 38,588 | 11,080 | 3,000 | 90,558 | |
| 36,035 | 34,129 | 8,177 | 2,150 | 80,491 | |
| 722 | 1,807 | 1,720 | 600 | 4,849 | |
| 36,757 | 35,936 | 9,897 | 2,750 | 85,340 | |
| 1,133 | 2,652 | 1,183 | 250 | 5,218 | |
| 455 | 3,930 | 2,903 | 850 | 8,138 | |
| 12 Stocks |
|||||
| Work in progress | 2022 | 2021 | |||
| £ | £ | ||||
| 40,285 | 22,591 | ||||
| 13 Debtors |
|||||
| Amounts falling due within one year: Trade debtors Prepayments and accrued income |
2022 | 2021 | |||
| £ | £ | ||||
| 99,862 | 57,768 | ||||
| 9,839 | 13,202 | ||||
| 109,701 | 70,970 |
- 16 -
THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
| 14 Loans and overdrafts |
||
|---|---|---|
| Bank overdrafts Bank loans Other loans Payable within one year Payable after one year 15 Creditors: amounts falling due within one year |
2022 | 2021 |
| £ | £ | |
| - | 10,228 | |
| 50,000 | 50,000 | |
| 151,228 | 159,153 | |
| 201,228 | 219,381 | |
| 5,000 | 10,228 | |
| 196,228 | 209,153 | |
| Notes Bank loans and overdrafts 14 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 16 Creditors: amounts falling due after more than one year Notes Bank loans 14 Other borrowings |
2022 | 2021 |
| £ | £ | |
| 5,000 | 10,228 | |
| 75,618 | 44,489 | |
| 45,578 | 50,122 | |
| 21,710 | 4,960 | |
| 16,344 | 11,048 | |
| 164,250 | 120,847 | |
| 2022 | 2021 | |
| £ | £ | |
| 45,000 | 50,000 | |
| 151,228 | 159,153 | |
| 196,228 | 209,153 |
- 17 -
THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
17 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement in funds Balance at 1 February 2020 Resources expended Balance at 1 February 2021 Resources expended Balance at 31 January 2022 £ £ £ £ £ Fixed asset fund 9,190 (7,535) 1,655 (993) 662 9,190 (7,535) 1,655 (993) 662 |
Movement in funds Balance at 1 February 2020 Resources expended Balance at 1 February 2021 Resources expended Balance at 31 January 2022 £ £ £ £ £ Fixed asset fund 9,190 (7,535) 1,655 (993) 662 9,190 (7,535) 1,655 (993) 662 |
Movement in funds Balance at 1 February 2020 Resources expended Balance at 1 February 2021 Resources expended Balance at 31 January 2022 £ £ £ £ £ Fixed asset fund 9,190 (7,535) 1,655 (993) 662 9,190 (7,535) 1,655 (993) 662 |
Movement in funds Balance at 1 February 2020 Resources expended Balance at 1 February 2021 Resources expended Balance at 31 January 2022 £ £ £ £ £ Fixed asset fund 9,190 (7,535) 1,655 (993) 662 9,190 (7,535) 1,655 (993) 662 |
Movement in funds Balance at 1 February 2020 Resources expended Balance at 1 February 2021 Resources expended Balance at 31 January 2022 £ £ £ £ £ Fixed asset fund 9,190 (7,535) 1,655 (993) 662 9,190 (7,535) 1,655 (993) 662 |
Movement in funds Balance at 1 February 2020 Resources expended Balance at 1 February 2021 Resources expended Balance at 31 January 2022 £ £ £ £ £ Fixed asset fund 9,190 (7,535) 1,655 (993) 662 9,190 (7,535) 1,655 (993) 662 |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| 9,190 9,190 |
1,655 1,655 |
||||
| Fixed asset fund | (7,535) | (993) | 662 | ||
| (7,535) | (993) | 662 |
Fixed asset fund
This fund represents fixed assets which were purchased with restricted funds and the terms of the restrictions have been met, allowing the charity to use the asset on an unrestricted basis. This fund is now fully utilised.
18 Analysis of net assets between funds
| Unrestricted funds Designated funds Total Unrestricted funds Designated funds Total 2022 2022 2022 2021 2021 2021 £ £ £ £ £ £ Fund balances at 31 January 2022 are represented by: |
Unrestricted funds Designated funds Total Unrestricted funds Designated funds Total 2022 2022 2022 2021 2021 2021 £ £ £ £ £ £ Fund balances at 31 January 2022 are represented by: |
Unrestricted funds Designated funds Total Unrestricted funds Designated funds Total 2022 2022 2022 2021 2021 2021 £ £ £ £ £ £ Fund balances at 31 January 2022 are represented by: |
|---|---|---|
| 2022 2022 2021 |
2021 2021 |
|
| £ £ £ |
£ £ |
|
| Tangible assets 4,556 |
662 5,218 6,483 |
1,655 8,138 |
| Current assets/(liabilities) 26,174 |
- 26,174 24,237 |
- 24,237 |
| Long term liabilities (196,228) (165,498) |
- (196,228) (209,153) 662 (164,836) (178,433) |
- (209,153) 1,655 (176,778) |
19 Operating lease commitments
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating lease for the charity's premises, which fall due as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Within one year | 14,875 | 28,000 |
- 18 -
THE EAST DURHAM EMPLOYABILITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
20 Related party transactions
Actif
Meryl Levington, director and trustee, is a consultant for Actif. The balance due to Actif at the year end is £23,450 (2021: £23,450). This is repayable within 375 days of the charity receiving a written notice of demand.
Marley Kavelle Limited
Mr W Marley, chief executive, is a director of Marley Kavelle Ltd. Previously Marley Kavelle Ltd advanced an interest free loan to the charity and raised invoices for management fees. The balance due to Marley Kavalle Ltd at the year end is £101,466 (2021: £125,316). No interest is charged and the balance is repayable within 375 days of the charity receiving a written notice of demand.
Mr W Marley
At the year end £11,000 was due to Mr W Marley, chief executive,
- 19 -