Charity Registration No. 1155465
Company Registration No. 07479529 (England and Wales)
CPTC LIMITED (LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
CPTC LIMITED (LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr J Best Mr A Counsell Ms N Carlyon Ms K Evans Mr S Parsons Mr N Rundle Mr T Gill (Appointed 12 February 2020) Charity number 1155465 Company number 07479529 Registered office CPTC Limited Duchy College Stoke Climsland CALLINGTON Cornwall PL17 8PB Independent examiner Mark Williams FCA DChA RRL LLP Peat House Newham Road TRURO Cornwall TR1 2DP Bankers Barclays Bank Plc PO Box 2 8 - 9 Market Jew Street PENZANCE Cornwall TR18 2TW
CPTC LIMITED (LIMITED BY GUARANTEE)
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees' responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
CPTC LIMITED (LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report and financial statements for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply 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).
Objectives and activities
CPTC Ltd objective is the advancement of the education of persons studying agriculture, horticulture and arboriculture and allied trades by means of the establishment and administration of City and Guilds Land based Services approved Certificate of Competence qualifications. These qualifications are required to support the skills needed in today’s industrial environment and some are also required for License to Practice activities.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
In the year 2020 we registered and assessed a total of 974 tests.
Financial review
The results for the year are shown in the statement of financial activities and show net incoming resources for the year of £11,422 (2019: £16,918), which together with the reserves brought forward of £34,353 (2019: £17,435) gives a total reserves figure of £45,775.
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The level of reserves has fallen below this amount during the year due to additional costs, however, the trustees are confident that reserves will increase to a sufficient level in the future as turnover increases and costs are controlled.
Investment policy
The trustees maintain access to funds for operational purposes and place all funds in a current account.
Risks
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Plans for the future
CPTC Ltd currently work with Duchy College, Bicton College & Kernow Training Group and private individuals, the changes in Land-based Education will mean students requiring more Certificates of Competence (C o Cs).
Structure, governance and management
The charity is incorporated as a company limited by guarantee and not having a share capital. In the event of a winding up, the members of the company are liable to contribute a sum not exceeding £1 per member towards the debts and liabilities of the charity and the costs and expenses of winding up.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr J Best
Mr A Counsell
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CPTC LIMITED (LIMITED BY GUARANTEE)
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020
Ms N Carlyon Ms K Evans Mr S Parsons Mr N Rundle Mr T Gill (Appointed 12 February 2020)
One trustee is appointed by the following bodies: Cornwall College, Cornwall Young Farmers, and National Farmers Union. Suitable individuals are identified by the existing trustees on the basis of their skills and knowledge and are invited to become trustees. New trustees are inducted into the workings of the charity.
The trustees are responsible for the overall control of the charity and are assisted by the head of the assessment centre to run day to day operations.
None of the trustees has any beneficial interest in the company.
Remuneration policy for key management
The trustees consider the board of trustees to comprise the key management personnel of the charity, to be in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee received any remuneration in the year for their role as a trustee. Two trustees provide consultancy and assessor services to the charity. Details of the trustees’ expenses and related party transactions are disclosed in notes 8 and 12 to the financial statements.
The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the trustees benchmark against pay levels in other similar organisations.
The trustees' report was approved by the Board of Trustees.
Ms K Evans
Trustee Dated: 23 September 2021
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CPTC LIMITED (LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees, who are also the directors of CPTC Limited (Limited by Guarantee) for the purpose of company law, are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent; and
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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.
In so far as the trustees are aware:
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there is no relevant information of which the charitable company's examiner is unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the examiner is aware of that information.
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CPTC LIMITED (LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CPTC LIMITED (LIMITED BY GUARANTEE)
I report to the trustees on my examination of the financial statements of CPTC Limited (Limited by Guarantee) (the charity) for the year ended 31 December 2020.
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
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:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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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
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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.
Mark Williams FCA DChA
RRL LLP Peat House Newham Road TRURO Cornwall TR1 2DP
Dated: 27 September 2021
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CPTC LIMITED (LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2020
| Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2020 | 2019 | ||||
| Notes | £ | £ | |||
| Income and endowments from: | |||||
| Donations and legacies | 3 | 14,689 | - | ||
| Charitable activities | 4 | 89,384 | 122,874 | ||
| Other income | 5 | 10 | - | ||
| Total income | 104,083 | 122,874 | |||
| Expenditure on: | |||||
| Charitable activities | 6 | 92,661 | 105,956 | ||
| Net income for the year/ | |||||
| Net movement in funds | 11,422 | 16,918 | |||
| Fund balances at 1 January 2020 | 34,353 | 17,435 | |||
| Fund balances at 31 December 2020 | 45,775 | 34,353 |
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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CPTC LIMITED (LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31 DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 10 | 13,499 | 30,925 | ||
| Cash at bank and in hand | 43,780 | 15,499 | |||
| 57,279 | 46,424 | ||||
| Creditors: amounts falling due within | |||||
| one year | 11 | (11,504) | (12,071) | ||
| Net current assets | 45,775 | 34,353 | |||
| Income funds | |||||
| Unrestricted funds | 45,775 | 34,353 | |||
| 45,775 | 34,353 |
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 December 2020.
The trustees acknowledges their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.
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 23 September 2021
Ms K Evans Trustee
Company Registration No. 07479529
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CPTC LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
Company information
CPTC Limited (Limited by Guarantee) is a private company limited by guarantee incorporated in England and Wales. The registered office is CPTC Limited, Duchy College, Stoke Climsland, CALLINGTON, Cornwall, PL17 8PB.
1.1 Accounting convention
The financial statements 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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP 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 on 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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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.
1.5 Resources expended
Expenditure is included on an accrual basis. The irrecoverable element of VAT is included with the item of expense to which it relates. Expenditure is recognised when a liability is incurred.
Governance costs represent the cost of the board expenses and independent examiner's fees.
The majority of costs are directly attributable to specific activities. Certain shared costs are apportioned to activities in furtherance of the objects of the charity. Shared staff costs and office costs are apportioned on the basis of the estimated usage by each cost centre of services provided.
1.6 Cash and cash equivalents
Cash and cash equivalents is the total amount held in the business current account.
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CPTC LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
(Continued)
1.7 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.
Basic financial liabilities
Basic financial liabilities, including creditors and bank 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 receipts 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.
1.8 Taxation
The company being a registered charity is exempt from corporation tax.
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.
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CPTC LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
3 Donations and legacies
| Unrestricted | Unrestricted | Total | ||
|---|---|---|---|---|
| funds | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Government grants | 14,689 | - | ||
| Grants receivable for core activities | ||||
| Cornwall Council grant | 10,000 | - | ||
| Government grants | 4,689 | - | ||
| 14,689 | - |
HMRC - grants have been received totalling £4,689 (2019:Nil) to help with the furloughed staff whilst in a nationwide lockdown due to COVID-19.
Cornwall Council - a grant has been received for £10,000 (2019: Nil). The local restrictions support grant has been issued to help businesses during the national lockdown and COVID-19 outbreak.
4 Charitable activities
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Test fees | 89,384 | 122,874 | |
| Other income | |||
| Unrestricted | Total | ||
| funds | |||
| 2020 | 2019 | ||
| £ | £ | ||
| Other income | 10 | - |
5 Other income
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CPTC LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
6 Charitable activities
| Unrestricted | Unrestricted |
|
|---|---|---|
| funds | funds | |
| 2020 | 2019 | |
| £ | £ | |
| Staff costs | 13,679 | 17,479 |
| Assessor fees | 58,363 | 70,033 |
| Travel | 3,260 | 4,678 |
| Training costs | 1,730 | 1,125 |
| Consultancy fees | 9,500 | 6,014 |
| Bank charges | 52 | 76 |
| Legal & Professional fees | 193 | 1,273 |
| Premises costs | 3,664 | 3,078 |
| 90,441 | 103,756 | |
| Share of governance costs (see note 7) | 2,220 | 2,200 |
| 92,661 | 105,956 |
7 Support costs
| Support costs | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Support | Governance |
2020 | Support | Governance |
2019 | |||||||
| costs | costs | costs | costs | |||||||||
| £ | £ | £ | £ | £ | £ | |||||||
| Accountancy | - | 2,220 | 2,220 | - | 2,200 | 2,200 | ||||||
| - | 2,220 | 2,220 | - | 2,200 | 2,200 | |||||||
| Analysed between | ||||||||||||
| Charitable activities | - | 2,220 | 2,220 | - | 2,200 | 2,200 |
8 Trustees
Other than as disclosed in note 12, none of the trustees received any remuneration or benefits from the charity during the year.
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CPTC LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
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: |
|||||||
|---|---|---|---|---|---|---|---|
| 2020 | 2019 | ||||||
| Number | Number | ||||||
| 2 | 2 | ||||||
| Employment costs | 2020 | 2019 | |||||
| £ | £ | ||||||
| Wages and salaries | 13,507 | 16,916 | |||||
| Other pension costs | 172 | 563 | |||||
| 13,679 | 17,479 | ||||||
| There were no employees whose annual remuneration was £60,000 or more. | |||||||
| 10 | Debtors | ||||||
| 2020 | 2019 | ||||||
| Amounts falling due within one year: | £ | £ | |||||
| Trade debtors | 13,499 | 30,925 | |||||
| 11 | Creditors: amounts falling due within one year | ||||||
| 2020 | 2019 | ||||||
| £ | £ | ||||||
| Trade creditors | 7,854 | 6,878 | |||||
| Accruals and deferred income | 3,650 | 5,193 | |||||
| 11,504 | 12,071 | ||||||
| 12 | Related party transactions |
Remuneration of key management personnel
Key management personnel were paid compensation for services provided. The total amount is as follows.
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Aggregate compensation | 11,130 | 11,082 |
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CPTC LIMITED (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
12 Related party transactions
(Continued)
During the year Mr N Rundle, trustee, was paid by CPTC Limited for consultancy and assessments totalling £11,130 (2019: £11,082) and was reimbursed for travel/subsistence totalling £376 (2019: £1,477) and other costs totalling £188 (2019: £43). £503 (2019: £922) was outstanding at the year end.
During the year Mr T Gill, trustee, was paid by CPTC Limited for consultancy and assessments totalling £513 (2019: £nil) and was reimbursed for travel/subsistence totalling £194 (2019: £nil) and other costs totalling £199 (2019: £nil). £82 (2019: £nil) was outstanding at the year end.
During the year, Kernow Training Limited, a company controlled by N Carlyon, trustee, paid CPTC Limited for services totalling £40,571 (2019: £47,655). £4,384 (2019: £7,126) was owed to the charity at the year end.
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