•IEDT]
Industrial
Cadets
THE ENGINEERING DEVELOPMEN
Annual report & Financial Statement
for the Year ended 31 August 2021
Connecting
young people with
industry and
inspiring STEM futures
|||Pages|
|---|---|---|
|Strategic Report||1-10|
|Trustees'
Annual
Report||11-21|
|Independent
Auditor's|Report|22-25|
|Statement
of Financial|Activities|26|
|Balance Sheet||27|
|Statement
of Cash-Flows||28|
|Notes to the Financial|Statements|29-42|
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||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Unrestricted|Total|Total|
||||Notes|Funds|Funds|Funds|
|||||K'000|6'000|6'000|
|INCOME|||||||
|Donations
and legacies|||2|415.5|415.5|490.2|
|Charitable
activities|||3|1,137.5|1,137.5|1,975.1|
|Investments|||4|56.4|56.4|51.6|
|Other income|||9|88.0|88.0|251.1|
|TOTAL INCOME||||1,697.4|1,697.4|2,768.0|
|EXPENDITURE|||||||
|Cost of raising funds|||5|196.7|196.7|229.3|
|Charitable
activities|||6|1,645.4|1,645.4|2,564.6|
|TOTAL EXPENDITURE||||1,842.1|1,842.1|2,793.9|
|Net gains on investments|||11|230.0|230.0|19.7|
|NET (EXPENDITURE)/INCOME||AND|||||
|NET MOVEMENT|IN FUNDS|||85.3|85.3|(6.2)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought|forward|||1,146.2|1,146.2|1,152.4|
|Total funds carried|forward|||61,231.5|51,231.5|61,146.2|
||||2021||2020|
|---|---|---|---|---|---|
||Notes|||||
|||5'000|6'000|5'000|6'000|
|FIXEDASSETS||||||
|Tangible fixed assets|10||14.1||56.2|
|Investments|11||1,621.2||1,583.0|
|TOTAL FIXEDASSETS|||1,635.3||1,639.2|
|CURRENT ASSETS||||||
|Debtors|12|364.0||270.7||
|Cash at bank and in hand||74.9||233.4||
|TOTAL CURRENT ASSETS||438.9||504.1||
|LIABILITIES||||||
|Creditors: Amounts
falling due within one year 13||842.7||997.1||
|NET CURRENT ASSETS|||(403.8)||(493.0)|
|TOTAL ASSETSLESSCURRENT LIABILITIESI NET||ASSETS||||
||17||51,231.5||61,146.2|
|THE FUNDS OF THE CHARITABLE COMPANY||||||
||||51,231.5||51,146.2|
|Unrestricted
income funds||||||
|TOTAL CHARITABLE COMPANY FUNDS|18||61,231.5||51,146.2|
##
|||||Notes|2021|2020|
|---|---|---|---|---|---|---|
||||||5'000|6'000|
|CASH FLOWS FROM OPERATING ACTIVITIES|||||||
|Net cash (used in) operating|activities|||25|(405.8)|(241.6)|
|CASH FLOWS FROM INVESTING ACTIVITIES|||||||
|Dividends
from investments|||||48.2|51.6|
|Interest from investments|||||||
|Proceeds from sale of investments|||||200.0||
|Purchase of property,
plant|and equipment||||(0.9)|(21.1)|
|NET CASH PROVIDED BYINVESTING||ACTIVITIES|||247.3|30.5|
|Change
in cash and cash|equivalents|in|the year||(158.5)|(211.1)|
|Cash and cash equivalents|at the beginning||ofthe year||233.4|444.5|
|Cash and cash equivalents|at the end|of|the year|26|574.9|6233.4|
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|2.DONATIONS|AND LEGACIES|Unrestricted|2021Total|2020 Total|
|---|---|---|---|---|
|||6'000|6'000|6'000|
|onations||5415.5|5415.5|5490.2|
|3.INCOME FROM CHARITABLE ACTIVITIES|3.INCOME FROM CHARITABLE ACTIVITIES|Unrestricted|2021Total|2020 Total|
|---|---|---|---|---|
|||F-'000|6'000|6'000|
|Experiences||299.8|299.8|619.0|
|projects||354.7|354.7|848.2|
|Placements||375.2|375.2|369.3|
|Industrial
Cadets accreditations|and development|107.8|107.8|138.6|
|||51,137.5|51,137.5|51,975.1|
|4.INVESTMENT INCOME|Unrestricted|2021Total|2020 Total|
|---|---|---|---|
||6'000|6'000|6'000|
|Dividends|48.2|48.2|51.6|
|Profit on sale of investments|8.2|8.2||
||656.4|556.4|551.6|
|2021Total|2020 Total|
|---|---|
|E'000|E'000|
|196.7|229.3|
|E196.7|E229.3|
##
|6.ANALY||SIS OF EXPEN|DITURE ON CHARIT|ABLE ACTIV|ITIES|||
|---|---|---|---|---|---|---|---|
||||||||Events|
||||Staff|||Tutors|Courses|
||||costs|Travel|Recruitment|Supervisors|Workshops|
||||E'000|E'000|E'000|E'000|E'000|
|Experience||Days|295.9|0.4|4.7|0.0|2.1|
|Projects|||432.6|0.3|0.2|0.0|1.9|
|Year In Industry|||212.0|0.0|0.0|0.0|0.8|
|Industrial|Cadets||148.4|0.2|0.0|0.0|0.0|
|2021Total|||E1,088.9|E0.9||Eo.o|E4.8|
|2020 Total|||E1,729.9|E63.0|||E114.7|
|||||Running|Support|Governance|Total|
|||||costs|functions|costs|expenditure|
|||||E'000|E'000|E'000|60OO|
|Experience||Days||20.4|123.7|13.5|460.7|
|Projects||||30.9|134.6|13.5|614.0|
|Yearln Industry||||16.9|109.3|13.5|352.5|
|Industrial|Cadets|||7A|48.7|13.5|218.2|
|2021Total||||E75.6|E416.3||E1,645.4|
|2020 Total||||E123.2|E447.9|E45.8|E2,564.6|
##
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|||General||Total|
|---|---|---|---|---|
|||Support|Governance|Funds|
|||E'000|E'000|E'000|
|Staff costs
Travel
Recruitment||294.8
1.2
0.0|51.5
0.1
0.0|346.3
1.3
0.0|
|Running
costs
Marketing/Publicity
Depreciation
ICT||4.0
4.9
43.0
98.7|0.7
0.0
0.0
0.0|4.7
4.9
43.0
98.7|
|Professional
Audit fees|fees|2.0
0.0|7.6
7.5|9.6
7.5|
|||E448.6|E67.4|E516.0|
|Cost offundraising
Expenditure
on charitable||32.3
416.3|13.4
54.0|45.7
470.3|
|activities|||||
|||E448.6|E67.4|E516.0|
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|NET INCOME|FOR THE YEAR|||
|---|---|---|---|
|||2021|2020|
|||E'000|E'000|
|This is stated|after charging:|||
|Operating
leases||51.9
43.0|74.7
32.6|
|Depreciation
Professional
Audit fees|fees|9.6
7.5|2.3
7.5|
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|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
||Software|Computer|Office||
||&Website|Equipment|Equipment|Total|
||f,'000|K'000|6'000|f,'000|
|Cost|||||
|At31August 2020|300.5|142.4|17.8|460.7|
|Additions|||0.9|0.9|
|Disposals|||||
|As at 31August 2021|300.5|142.4|18.7|461.6|
|Depreciation|||||
|At 31August 2020|264.6|128.6|11.3|404.5|
|Additions|28.8|11.1|3.1|43.0|
|Disposals|||||
|As at 31August 2021|293.4|139.7|14A|447.5|
|Net Book Values|||||
|As at 31August 2021|57.1|f2.7|54.3|614.1|
|As at 31August 2020|f35.9|f13.8|56.5|f56.2|
|11.INVESTMENTS|11.INVESTMENTS||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||E'000|6'000|
|Market Value|||||||||
|CCLA Charities||Common||Investment|Fund||1,457.1|1,430.6|
|CCLA Charities||Property|Fund||||164.1|152.4|
|Market Value|at the end|||ofthe financial year|||51,621.2|61,583.0|
|Reconciliation|of Movement
in Market|||||Value of Investments|||
|Market value at||the start|ofthe financial|||year|1,583.0|1,563.3|
|Sale of investment
at Market Value (March 2021)|||||||(200.0)||
|Profit on sale of||investment||(March 2021)|||8.2||
|Net gains on revaluation|||of investments|||at the end ofthe financial year|230.0||
|Market Value at the end||||ofthe financial year|||51,621.2|51,583.0|
||||||||2021|2020|
||||||||K'000|E'000|
|Cost|||||||||
|CCLA Charities||Common||Investment|Fund||911.2|1,052.2|
|CCLA Charities||Property|Fund||||134.5|134.5|
|Cost at the end||ofthe financial year|||||51,045.7|51,186.7|
||||||||2021|2020|
|12.DEBTORS|||||||K'000|6'000|
|Trade debtors|||||||245.0|145.3|
|Other debtors and prepayments|||||||119.0|125.4|
||||||||5364.0|5270.7|
|13.CREDITORS:|13.CREDITORS:|Amounts
falling due within one year|||
|---|---|---|---|---|
||||2021|2020|
||||6'000|6'000|
|Trade creditors|||231.6|224.8|
|VAT|||37.1|58.0|
|Taxation|and Social Security||17.1|17.7|
|Pension|scheme|contributions|6.9|8.1|
|Deferred|income (note 14)||361.8|293.7|
|Accruals|||188.2|394.8|
||||6842.7|6997.1|
|14.MOVEMENTS
IN DEFERRED INCOME|||2021|2020|
||||6'000|6'000|
|Deferred|income at 1September 2020||293.7|245.1|
|Deferred|income|released
during the year|(293.7)|(245.1)|
|Income received||during the year and deferred|361.8|293.7|
|Deferred income at31August 2021|||6361.8|6293.7|
##
|Financial|instruments
measured
at amortise|d
cost comprise the follow|ing:||
|---|---|---|---|---|
||||2021|2020|
||||6'000|6'000|
|Financial|assets that are debt instruments|(Trade Debtors)|245.0|145.3|
|Financial|liabilities that are debt instruments|(Creditors)|419.8|619.6|
##
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|under n|on-cance|llable
|ope|rating|lea|ses|which expire|as follow|s:|||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2021|2020|
|||||||||||E'000|6'000|
|Premises - Licences to|||occupy||expiring||between one|and five|years|37.3|12.8|
|Office equipment||- expiring||between||one and five years||||1.3|3.7|
|||||||||||638.6|616.5|
|ANALY|SIS OF|NET ASSETS BETWEEN FUNDS||||||||||
|||||||||2021||2021|2020|
|||||||||General||Total|Total|
|||||||||Funds||Funds|Funds|
|||||||||6'000||6'000|6'000|
|Tangible|fixed assets|||||||||||
|Investments|||||||||14.1|14.1|56.2|
|Current|assets|||||||1,621.2||1,621.2|1,583.0|
|Current|liabilities||||||||438.9|438.9|504.1|
||||||||||(842.7)|(842.7)|(997.1)|
|Total Funds||||||||||||
|||||||||61,231.5||61,231.5|61,146.2|
|ANALY|SIS OF|CHARITABLE|||FUNDS|||||||
|||||||||At|Incoming|Outgoing|At|
|||||||||01.09.20|resources|resources|31.08.21|
|Analysis|of Movements||in|Unrestricted|||Funds|6'000|6'000|6'000|6'000|
|General|Funds|||||||||||
|||||||||1,146.2
1,927.4||1,842.1|1,231.5|
|Total Unrestricted
Funds/Total|||||Funds|||||||
|||||||||61,146.2
61,927.4||61,842.1|61,231.5|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||5'000|5'000|
||Net (expenditure)/||income for the year||85.3|(6.2)|
||(as per the Statement of Financial Activities)||||||
||Adjustments|for:|Depreciation
charges||43.0|32.6|
||||Loss on disposal
ofasset||0.0|0.0|
||||Gains on investments||(230.0)|(19.7)|
||||Dividends
from investments||(48.2)|(51.6)|
||||Profit from sale of investments||(8.2)||
||||(Increase)/Decrease|in debtors|(93.3)|179.8|
||||(Decrease)
in creditors||(154.4)|(376.5)|
||Net cash (used in) operating
activities||||F(405.8)|5(241.6)|
|26.|ANALYSIS|OF CASH AND CASH EQUIVALENTS|||||
||||||2021|2020|
||||||5000|5'000|
||Cash at bank and in hand||||||
||||||74.9|233.4|
||Total cash and cash equivalents||||||
||||||574.9|5233.4|
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