2024-06-30-accounts - Wheels Vocational and Life Skills Centre

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Trustees’ Annual Report for the Year Ending 30 June 2024

The Trustees of Wheels Vocational and Life Skills Centre present their annual report and audited accounts for the year ended 30 June 2024 and confirm they comply with the requirements of the Charities Act 2011, the trust deed and the Charities SORP (FRS 102).

Our Aims

We aim to provide an Alternative Educational Offer within the surrounding areas for young people aged between 13 – 16 years old.

Our Objectives

To act as a resource for young people, within the West Midlands and surrounding areas, by providing advice and assistance and organizing programmes of physical, educational and other activities as a means of:

Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals.
Advancing educational opportunities.
Relieving unemployment.
Providing recreational and leisure time activity in the interests of social welfare for young people who have need by reason of their age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such young people.

Review of Activities and Achievements

Pupil numbers and income continually fluctuate. Currently, we continue to offer part time Day Student places (for up to three days per week). At present we have 22 students attending up to 3 days per week. Places are charged at between £85.00 and £100.00 per day.

Due to financial constraints the Senior Leadership Team and the Board of Trustees made a decision to re-apply to the Department for Education to register as an Independent School. Additionally this decision was also as a consequence of continued requests and pressure from stakeholder schools for the Centre to take students on a full time basis (this is something that we are unable to facilitate without Independent School status). A pre-registration inspection was carried by the DfE and the Centre was given advice on areas that need to be address around the site in order to meet Independent School standards; this was mainly with regards to the layout of the new premises.

The process is lengthy and can take up to, and possibility in excess, of six months to achieve once the Centre has carried out the advised improvements. The Senior Leadership Team will then work through the re-application process during the summer with a view to being fully registered between September – December 2025.

As we operate as a vocational centre and are only able to accommodate part time students, the Senior Leadership Team and Board of Governors, in order to reduce the organisations monthly financial outgoings, made a decision to downsize the operation during 2024. The organisation moved into new premises in April/May 2024 and there was a substantial amount of work that needed to be carried out in order to safely and legally accommodate students and staff. The unit is now fully operational and the decision to move has seen a considerable reduction in the costs of rent, heat, light and energy, as well as a number of additional categories. It is hoped that these savings continue and the organisation remains financially viable.

Despite having downsized in terms of premises and the organisations physical capacity, the Centre is still able to expand upon student numbers but is restricted to fiscal considerations.

Academic

Vocational Studies remain the core of the Centre’s curriculum, with all students that are placed by stakeholders enrolled upon one or more vocational qualification and pathway. Numbers participating are relatively stable considering the economic situation of funding for Day Students.

AIM courses of study and accreditation are now being delivered and have widened the curriculum offer. In addition to the Skills for Work and Living qualification that the Centre was originally approved to deliver, we are now also accredited to deliver through AIM, the Diploma in Skills for Working in Construction and Building Industries

qualification. The planning of this qualification is currently in progress and it is intended that this will be rolled out to students in the next academic year.

The following table details 2024 examination results.

Award	Number of Students Entered	Pass Rate	% Pass
IMI Motor Vehicle Award	12	9	75%
IMI Motor Vehicle Certificate	5	3	60%
BTEC Vocational Studies Certificate	7	6	86%
AIM Certificate in Skills for Livingand Work	7	6	86%

To further improve pupils’ outcomes it is evident that the Centre must:

Continue with the evaluation of our curriculum offer, lesson planning and ILPs.
As it is the intention to register as an Independent School in the forth coming months, it will be necessary to employ a Functional Skills tutor to deliver English and Maths to all full time students. This is a mandatory requirement of being an Independent School and this will foster continuity for our young people outside of their mainstream setting.
Maintain and develop alternative accreditation routes for students to be rewarded for their work.
Offer a consistent quality of tuition in studies by all staff.
Continue to provide Tutors with Professional Development regarding their Teaching and Learning strategies and maintain a robust framework of Assessment that accurately reflects areas for individual development and target setting.

Community Work

Social Enterprise activities have been limited this academic year due to the organisation relocating premises. Previously students have taken part in a sponsored walk, engaged in the production of decorative garden ornaments constructed of concrete; bird boxes and insect houses made of wood, held cake sales, all of which have been offered for sale to local businesses who shared the Industrial Estate, and friends, family and visitors to the centre and its staff and students. A timetable of charitable events and activities is in the process of being created for the forthcoming months and academic year.

Future Plans

Following the relocation of the organisation it was decided to review, recreate and redevelop the Centres’ Improvement Plan in accordance with the changed structure and operational requirements of the organisation and it’s location. There continues to be four main priorities as shown below.

Wheels VLS Centre will continue to monitor and develop the physical nature of the organisation to enable students to benefit from a sustainable curriculum offer, in a safe, suitable environment for the delivery of vocational practical courses and pathways (in the forthcoming future).
Teaching, Learning and Assessment. Curriculum development will ensure wider accreditation routes are available appropriate to students’ abilities. Staff CPD ensures questioning deepens students’ understanding. Assessment promotes strategies to raise achievement, self-esteem and the final outcomes for students.
Centre Systems. Staff CPD, Staffing Structure and Staff Appraisal, Succession Planning and Governance.
Improving Welfare of Students. Attendance remains an issue for a small minority of students (particularly at their home school). Existing strategies to be investigated further and new initiatives piloted to address this barrier to learning and achievement.

Discussions continue to take place to extend our offer, insomuch as to provide an Alternative Programme for 16-19 year olds to help combat the NEET problem (Not in Education, Employment or Training). Wheels Vocational and Life Skills Centre would like to have the opportunity to increase its impact on the lives of young people who find it difficult to access mainstream colleges. The major difficultly to overcome remains the access to sustainable funding routes to enable not only the setup costs, but the employment of well-trained staff to deliver the qualifications. The Centre, has and will continue to explore ways in which this be achieved.

Our Finances

The financial statements show the Income as £110,240 and Expenditure as £324,294 other costs; the Centre has had a hard task to remain viable and solvent. As part of future financial planning, funding, negotiations with local schools/alternative provision/other such organisations are continuously being reviewed as 100% of the income of the Centre now arises from these commissioning organisations.

It should be noted that the Centre continues to benefit from 100% reduction in Business Rates on the property we use for our charitable purposes. However, as an educational charity, we are unable to reclaim VAT input tax on our costs as we are exempt for VAT purposes. We also pay tax as an employer through the National Insurance Contributions we make.

The substantial benefits our Centre makes to the lives and prospects of the young people in our care, their families and the local community is something we are proud of and is without cost to the Exchequer.

Financial Health

As stated, an increase in revenue is required for the Centre to maintain its provision for the young people it serves. The Trustees have due regard for the current financial situation and funds held by the Centre. There remains a concern that, unless strong collaborations with local schools/alternative provision/other such organisations, with long term agreements, the Centre faces an uncertain future.

Notwithstanding the above, the closing value of our tangible assets, property, plant and equipment stands at £12,806.

The centre currently operates at 51% capacity. There is, therefore, sufficient room for expansion and the ability to increase income.

Reserves Policy

It has been decided that Reserves of approximately £200,000 should be held to off-set any such situation. These funds would allow the Centre to maintain teaching staff in post for the short term whilst alternative funding is sourced. This Reserve will allow the Centre to provide education for those students remaining on roll and continue to operate.

Developments and Maintenance

The internal re-structuring of the organisations new building, and development of curriculum areas continues as a work in progress. It is anticipated that there may be some expenditure next year to fund this work however contingency funds have been allocated.

Ethos, Strategy and Policies

The Ethos of the School remains constant:

To provide each young person with a positive experience of learning within a practical training programme that is based on nurturing individual talents and providing opportunities for personal development. This enables students to be self-aware and to learn the skills that will help them manage their lives, their employability prospects and their relationships in the future. Central to this is the centre’s aim to actively promote inclusion, supported by social, educational and vocational networks. We are committed to safeguarding all young people in our care and all staff share this responsibility equally.

The Centres’ Improvement Plan is active, in line with the key priorities stated and enjoys full Trustee approval.

Trustees ensure that this is followed by regular contact with the Centre, the Business Manager and the Senior Leadership Team. The Centre’s website contains detailed information, advice and guidance relating to Policies and may be accessed via: www.wheelsvls.co.uk

Governance

Trustees give their time freely and without cost to the Centre. No expenses were paid to Trustees during the last year. Trustees accept that they have overall responsibility for the management of the Centre albeit with the input of the Business Manager and the Senior Leadership Team being highly regarded.

The day to day running of the Centre remains the remit of the Senior Leadership Team, whilst the Trustees ensure the overarching ethos of the provision is maintained.

Recruitment and Remuneration

The Business Manager and the Senior Leadership Team, oversees the recruitment of all staff and determines the salary paid to each staff member. Whilst the Trustees delegate this responsibility to the Senior Leadership Team, the Chair monitors all such appointments and costings.

Risk Management

A SWOT (Strengths, Weaknesses, Opportunities and Threats) Analysis is critically reviewed every Term and shared with Trustees. A more detailed analysis is reviewed annually that includes Student Welfare, Health and Safety, Financial Sustainability and Community Awareness Issues.

A Critical Incident Management Policy is also available for guidance and is reviewed annually.

The Trustees are satisfied that major risks have been identified and risks have been adequately mitigated by the Centre. It is accepted that such systems can only provide reasonable, but not absolute, assurance that risks have been well managed.

Charity Trustees

Mr Gareth Drew Rosedale Hermit Street Dudley West Midlands DY3 2BS

Alexandra Pejovic 3A Perryfields Road Bromsgrove B61 8SY

Catherine Jones 9 Bank Farm Close West Midlands DY9 0TT

Business Manager: Clare Dulson

Contact Details: Wheels Vocational and Life Skills Centre, Britannia Works, Talbots Lane Trading Estate, Talbots Lane, Brierley Hill, West Midlands, DY5 2YX

Website: www.wheelsvls.co.uk

Charity No. 1157795

Professional Advisors:

Bankers: Barclays Bank, 27 Queensway, Halesowen B63 4AE Accountants: Sandwell Accountancy Services, 30 Upper High St, Cradley Heath B64 5HY Insurances: KGJ Insurance Brokers (Stourbridge) Ltd, 2 Hagley Rd, Stourbridge DY8 1QG

Company registration number: 06608327 Charity registration number: 1157795 Wheels Vocational & Life Skills Centre Ltd (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 June 2024 Sandwell Accountancy Services Limited Certified Public Accountants Old Bank Buildings Upper High Streei Crndley Heath West Midlands B64 SHY

Whee18 Vocational & Life Skills Centre Ltd Contents Reference and Administrative Details Trustees, Report 2to4 Independent Examine¢s Report 5t06 Statement of Financial Activities 7108 Balance Sheet Sialement of Cash Flows 10 Notes to the Financial Statements I I to22

Wheels Vocational & Life Skills Centre Ltd Reference and Administrative Details Senior Manftgement l Leadership Mrs J Lear, Head Teacher Team Mrs C Lear. School Business Manager Mr R Brown. Education Consultant Chirlty Regl8trotlon Number 1157795 Company Reglstrallon Number 06608327 The charity is incorporated in England. Old Bank Buildings Upper High Slreet Cradley Heath Wesl Midlands B64 SHY Reglstered Office Prlnclpal Offlce Britannia Works Talbots Lane Trading Estate Talbots Lane Brierley Hill West Midlands DY5 2YX Independent Examiner Sandwell Accounlancy Services Ltd Certified Public Accountants Old Bank Buildings Upper High Street Cradley Heath West Midlands B64 SHY Page I

Wheels Vocational & Life Skills Centre Ltd Trusteey, Report The trustees, who are directors for the purposes of company law, present the annual report logether with the financial slalements and auditors, report of the charilable company for the year ended 30 June 2024. ObJec¢lves and aetlvltles Objects and alm.s To act as a resource for young people. within the Wesl Midlands and surrounding areas. by pruviding advice and assistance and organizing programmes of physical. eduLatioiial and oiher activities as a means ()f.. Advancing in life and helping young people by developing their skills. capacities and capabilities lo enable them to participate in society as indeprndent. malure and responsible individuals. Advanling educalional opportunities, Relieving unemploymenl. Providing recreational and leisure lime activity in the interesls of social welfare for young people who have need by reason of their age, infirniity or disability, poverty or social and economic circumsiances with a view to improving ihe conditions of life of such young people. We aim lo provide an Aliern8tive Educational Offer within the surrounding areas for young people aged belween 14 - 16 years old. A full Trustees Report is available as a PDF from the Charities Commission website Publlc benejli Students continue to raise funds for various chariiable organisations. This year support has again been given lo Macmillan Cancer Support (£149 was raised). Community relations were improved by offering a free of charge "Car Valeting Service" for workers on the industrial estate. This proved to be popular and provided students with the opportunity lo produce advertising posters lo publicise the event. Litter picks around communal areas have also been a feature of this years work. Social Enterprise Activities have concenlraled upon the production of bird boxes. planters and the cultivation of flowers, small shrubs, fruit and vegetables. Pre-planted conlainers have been for sale to local businesses who share the industrial estate. The tnjstees confim that Ihey have complied wilh the requirements of section 17 of the Charilies Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for F.nbiland and Wales. Fln8n¢lal revlew Pijllcy on reserves The 'l'rustees are cognizanl thal the local authority funding is crucial for the solvency of the school and should this be withdrawn Ihen closure would swiftly follow. It has been decided thal reserves of approximately £200.000 of this funding should be held to off-set any such 5ltualion. These funds would allow the school to Inainlain leaching slaff in post for the shon tenn whilst alternative funding 15 sourced. This reserve will allow Ihe School (o provide education for those students remaining on roll and continue lo operate. Page 2

Wheels Vocational & Life Skills Centre Ltd Trustees, Report Trustees and offlcers The trustees and officers Serving during the year and since the year end were as follows: Truste¢s: Ms A Pejovic MrGMDrew Mrs C Moore (appointed l July 2023) S¢nior Management / Leadership Team,. Mrs J Lear, Head Teacher Mrs C Lear. School Business Manager Mr R Brown, Education Consultant Structurei governanee and management Fln4ncl81 Instruments Objecllves andpollcles The charity's aclivities expose it lo a number of financial risks including credit risk. cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustee5, which provide wrirten principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Ca.fhflow rtsk The charity's activities expose it primarily io ihe financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign ¢xchang¢ fonvard contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. Credll rlsk The charity's principal financial assets are bank balances and cash. trade and other receivables, and investments. The charity's credii risk is primarily attributable lo its trade receivables. The amounts pr¢5ented in the balance sheel are nel of allowances for doubtful receivables. An allowance for impainnenl is made where there is an idenlified loss ¢vent which. based on previous experience, is evid¢nce of 4 reduction in th¢ r¢¢overability of the cash tlows. The credit risk on liquid funds and derivative financial insiruments is limited because the counterparties are banks with high credit-ratings assigned by international credil-raling agencies. The charity ha5 no SIlfICant concentration of credit risk. with exposure spread over a large number of counterparties and customers. Llquldity rtsk In order to maintain liquidity to ensur¢ that Su1Clent funds are available for ongoing operntions and future developments. the charity uses a mixture of long-lvrm and 5hort-tenn debt finance. Further details regarding liquidity risk can be found in the Statement of accounling policies in the financial statements. Page 3

Wheels Vocationydl & Life Skills Centre Ltd Trustees, Report Statement of ¢rus¢¢¢s' responslhilitleg The trustees (who are also ihe directors of Wheels Vocational & Life Skills Centre Ltd for the purposes of company law) are responsible for preparing Ihe truslees, report and the findncial 51al¢menls in accordance with applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice). including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trusiees to prepare financial statements for each financial year. Under coinpany law the trustees musl nol approve the financial statemenls unle55 Ihey are satisfied that they give a irue and lair view of the stale of affair5 Ot the charitable company and of the incoming resources and application of resources, including it5 income and expenditure, of the charilable company for ihai period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP; mak¢ judgements and estimates that are reasonable and prudenl. state whether applicable accounting standards, comprising FRS 102 have been followed. subject to any material departures disclosed and explained in the fin8ncial statements: and prepare the financial slalements on Ihe going concern basis unless li is inappropriate to presume that the charitable company will continue in business. The Irustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of th¢ charitable company and enabl¢ them to ensure that the linancial 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 prevenlion and detection of fraud and other irregularities. The trusiees are responsible for the maintenance and integrity of the corporate and financial inforniation included on the charitable company's website. Le8islation governing the preparation and dissemination of financial stat¢ments may differ from legislation in other jurisdictions. Dlsclosure of InformAtlon to audllor Euch trustee has taken slep.5 that they ought to have taken as a truslee in order to make themselves aware of any relevant audit inforniation and to establish that the charity's auditor is aware of thal inforniation. The trustees confim that there is no relevant infom)ation that they know of and of which they know the auditor is unaware. The annual report was approved by the truste¢s of the charity on ... and signed on its behalf by,, MrGMDrew Trustee Page 4

Wheels Vocational & Life Skills Centre Ltd Independent Examiner's Report to the trustees of Wheels Vocational & Life Skills Centre Ltd ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for th¢ year ended 30 June 2024. Responslbllltles and basls of report As the charity's truslees of the Company (and also its directors for the purposes of company law) you are responsible for Ihe preparation of the accounts in accordan¢e with the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied myself thal the a¢counts of the Company are nol required lo be audited under Part 16 of Ihe 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In Larrying out Iny examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Acl. Page 5

Wheels Vocational & Life Skills Centre Ltd Independent Examiner's Report to the trustee8 of Wheels Vocational & Life Skills Centre Ltd ('the Company,) Independent examlner's statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe: l. accounting records were noi kept in respect of Wheels Vocational & Life Skills Cenlre Ltd as required by section 386 of the 2006 Act; or 2. the accounts do noi accord with those records; or 3. the accounts do nol Comply wilh the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which 15 not a malter considered as part of an independent examination. or 4. the acLounts have not been prepared in accordance wilh the methods and principles of the Statement of Recommended Practice for accouniing and reporting by charitie4 lapplicable lo chv4rilie5 preparing Iheir accoiints in accordance wilh the Financial Reporting Standard applicable in the UK and Republic ot. Ireland (FRS 102). I have no concern% and have come across no other malters in connection with the examination lo which attention should be drawn in this report in order to enable a proper undersianding of ihe accounts lo be reached. Sandwell Accountancy Services Limited Certified Public Accountants Old Bank Buildings Upper High Street Cradley Heath Wesl Midlands B64 SHY Page 6

Wheels Vocational & Life Skills Centre Ltd Statement of Financial Activities for the Year Ended 30 June 2024 (Including Income and Expenditure Aceount and Statement of Total Recognised Gains and Losses) Unrestrlcted funds TolAI 2024 Note Ineome and F.ndowment5 from: Donations and legacies Charilable activities 5.100 105,140 5,100 105,140 Total income 110.240 10.240 Expendlture on; Raising funds Charitable activities (49) 324,294) (49) 324.294) Total expenditure 324,343 324.343) Net expenditure 214,103 214.103 Net movement in funds (214.103) (214.103) Reconclliatlon of funds Tothl funds brought forward 302.871 302,871 Total funds carried forward 17 88,768 88,768 Unrestricted funds Tot81 2023 Note Income and F.ndDwments from: Donations and legaci¢s Charitable activities 1,040 148,252 1.040 148,252 Total income 149.292 149.292 Expendlture on: Raising funds Charitsble activities (8) 354.042) (8) 354,042) Total expenditure Net expenditure 354.050) 354.050) 204,758 204.758 Net movement in fund5 (204.758) (204,758) ReconclliAtlon of funds Total funds brought fonvard Total funds carried forward 507,629 507,629 17 302.871 302,871 All of the charity's activities derive from continuing operations during the above two periods. The notes on pages I I to 22 fom an integral part of these financial ststements. Page 7

Wheels Vocational & Life Skills Centre Ltd Statement of FinAncial Activities for the Year Ended 30 June 2024 (Including Income and Expenditure Account and Statement of Total Recognised G"ains and Losses) The funds breakdown for 2023 is shown in note 17. The notes on pages I I to 22 forni an integral part of these financial statements. Page 8

Wheels Vocational & Life Skills Centre Ltd (Registration number: 06608327) Balance Sheet as at 30 June 2024 2024 2023 Note Flxed assets Tangible &ssets 12,806 13.675 Current assets Deblors Cash at bank and in hand 12 21.667 62,353 9,566 288,081 84.020 297,647 Credltorj: Amounts falllng due withln one year 14 8,058 8,451 Nel eurrent assets 75.962 289,196 Net assets 88.768 302,871 Funds of Ihe charlty: Unrestrlcted Income funds Unrestrlcted funds 88,768 302.871 Total funds 88.768 302.871 For the financial year ending 30 June 2024 the charity was entitled to exempiion from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obtain an audit of its accounts for th¢ year in question in accordance with Section 476,. and The directors acknowledge Iheir responsibilities for complying with the requirements of the Act with respect to accounting records and Ihe preparation of accounis. The financi ements on pages 7 to 22 were approved by the trustees. and authorised for issue on Tned on their behalf by: MrGMDrew Trustee The notes on pages I I to 22 forni an integral part of these financial statements. Page 9

Wheels Vocational & Life Skills Centre Ltd Statement of Cash Flows for the Year Ended 30 June 2024 2024 2023 Note Cash flows from operatlng activities Net cash expenditure (214,103) (204,758) Adjustments to ea5h flows from non-cash Item5 Depreciation 3.050 3.366 (211.053) (201,392) Worklng expllil adJu4tments (Incredse)IdeLrease li) dLblurs Decrease in creditors 12 14 (12.101) 393) 40,546 (8.9231 Net cash flows from operating activities (223.547) (169.769) Cash flows from Investlng actlvltles Purchase of thngible fixed assets 2,181) 1.581) Net de¢ree in cash and cash equivalents (225.728) (171,350) Cash and cash equivalents at l July 288,081 459,431 Cash and cash equivalents at 30 June 62.353 288,081 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages I I to 22 forni an integral part of these financial statements. Pa8e 10

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year Ended 30 June 2024 Charlty stAtus The charity is limited by share capital. incorporated in England, The address of its regisier¢d office is: Old Bank Buildings Upper High Street Cradley Heath West M idlands B64 SHY The principal place of business is: Britannia Works Talbots Lane Trading Estate Talbots Lane Brierley Hill West Midlands DY5 2YX 2 Aeeountlng polleles Summary of significant accounting policies and key ac¢ountin£ estimates The principal accounting policies applied in the preparalion of these financial statements are sel out below. These policies have been consistently applied 10 all the years presented. unles5 oiherwise sthied. Slatement of eompllance The financial stalemenls have been prepared in accordance with Accounting and Reporting by Charilies: Statemen( of Recommended Practice (applicable to chariiies preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland l FRS 102)) (issued in Oclober 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. B*sls of prepAratlon Wheels Vocational & Life Skills Cenlre Ltd meels Ihe definition of a public benefit entity under FRS 102. Assels and liabi lilies are initially r¢co8nised ai historical ¢osl or transaction value unless Otherwise stated in the relevant accounting policy notes. Golng concern The Iruslees consider thai there are no material uncertainties about (he charity'5 ability to conlinue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Income and endowments All income is recognised once the charity has entitlement lo Ihe income, it is probable that the incorne will be received and the amounl of the income receivable can be measured reliably. Page 11

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year Ended 30 June 2024 Don4llon.s and legacles Donations are recognised when the charity has been notified in writing of both ihe amount and settlement date. In the event that a donation is subject to conditions thal require a level of perforniance by the charity before the charity is entiiled to the funds. the income is deferred and not recognised until either those conditions are fully met. or Ihe fultilmenl of those conditions is wholly wiihin the control of th¢ charity and it is probable that Ihese conditions will be fulfilled in the reporting period. Expendlture All expenditure is recognised once ther¢ is a legal or construclive obligation to that expenditure. il is probabl¢ setileinent is required and Ihe amount can be measured reliably. All cosl5 are allocated lo Ihe applicable expendilure heading thal aggregate similar costs to that catebFOry. Where cosls cannol be direcily allributed to particular headings Ihey havL been allocated on a basis consistent with the use of resources, wilh central stafy osts allocated on th¢ basis of lime spenl, and depreciation charges allocated on the portion of the asset's Use. Other support costs are allocated based on the spread of statT costs. Ralslttgfunds These are costs incurred in attracting voluntary income. the management of investments and those incurred in trading aclivities ihat rnise funds. Charllable ac¢lvlile.s Charitable expenditure comprises those costs incurred by ihe charity in the delivery of its activities and services for ils beneficiaries. It includes boih costs that can be allocaled directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central funclions and have been allocated to activity cost categories on a basis consistenl with the use of resources. for example, allocaling property costs by floor areas. or per capit& staff costs by the lime spent and other costs by their usage. Governxnee Costs These include the cosls attributsble to the charity's compliance with constitutional and statutory requirements, including audit, strategic mlagement and trusl¢es meetings and reimbursed expenses. TAXatlon Th¢ charity is considered to pass the tests sel out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charilable coinpany for UK corporaiion tax purposes. Ac¢ordin¥ly, the charity is potenlially exempi from laxation in respecl of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Acl 2010 or Seclion 256 of the Taxaiion of Chargeable Gains Aci 1992, lo the extent that such income or gains are applied exclusively lo charitable purposes. Tan%lhle flxed assels Individual fixed assels costing £ 100,00 or more are initially recorded al cost, less any subsequent accumulated depreciation and subsequeni accumulated impaiment losses. Page 12

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year Ended 30 June 2024 Depreciatlon and amortlsatlon Depreciation is provided on iangible fixed assets so as to write off the cost or valuation. less any estimated residual value. over their expected us¢ful economic life as follows: As$e¢ class Fixtures and fittings Office equipment Motor vehiLles Plant and machinery Depreclation method and rate 200/0 Reducing balance basis 200/0 Reducing balance basis 200/0 Reducing balance basis 200/0 Reducing balance basis Trade debtors Trade debtors are amounts due from customers for merchandis¢ sold or service5 perfornied in the ordinary ourse of business. Trade debiors are recognised initially at the transaction price. They are subsequenily measured at amortised cost usin8 the effective inierest method. less provision for impairnienl. A provision for the impaimient of trade debtors is established when there is objective evidence that th¢ charity will not be able to collect all amounts due according 10 the original tern)s of the receivables. Cash and cash ¢qulvalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-lerni highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Tr8de Creditors Trade creditor5 are obligations to pay for goods or services thai have been acquired in (he ordinary course of business from suppliers. Accounls payable are classified as current liabilities if the charity does not have an uncondilional right. at the end of the r¢porting period. 10 defer settlement of the creditor for at least twelv¢ months after the reporting date. If there 15 an unconditional right to defer settlemenl for at least twelve months after the reporting dale. they arc presented as non-current liabiliiies. Trade creditors are recognised initially at the transaction price and subsequenily measured at amortised cost usin8 the etyeclive inierest method. Borrowlngl InterLs1-bearing borrowings 8re initially recorded at fair value. nel of transaction costs. Inlerest-bearing bOowing5 are subsequently carried at amortised cosl, with the difference between ihe proceeds. nel of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Finan¢ial Activities over the period of th¢ relevani borrowing. IDler¢st exp¢nse is recogntsed on the basis of the effective int¢rest method and is included in interest payable and similar charges. Borrowings are classifi¢d as curreni liabilities unless the charity has an unconditional right to defer settlement of the liability for at leasi twelve months after the reporting dale. Page 13

Wheels Vocational & Life Skills Centre Ltd Notey to the Finan¢iAI Statements for the Year Ended 30 June 2024 Forelgn exch#nge Transaclions in foreign currencies are recorded ai the rate of exchange at the date of Ihe trans8Ction. Moneiary assets and liabililies denominated in foreign currencies al ihe balance sheei dale are reported at the rates of exchange prevailing at ihat date. The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets al the rates ruling at Ihe balance sheet dale. Exchange difterence5 arising on translation of ihe opening n¢t assets and re5u115 of overseas operations are reported in other comprehensive income and a¢¢umulated in equity (attributed lo non-controlling interests as appropriate). Other exchange differences are recognised in the Slatement of Financial Activities in th¢ period in which Ihey arise except for: l ) exchange differences on transaclions entered into to hedge certain foreign currency risks (s¢¢ abov¢), 2) exchange ditTerences arising on 8ains or losses on non-monetary items which are reco8nised in other comprehensive income; and 3) in the case of the consolidated financial statement5. exchange difyerences on monetary iiems receivable from or payable to a foreign operation for which settlement is neither plann¢d nor likely to occur (therefore forniing part of the net investment in the toreign operation). which are recognised in other comprehensive income and reported under equily. Fund structure Unrestricled income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Pensions and other post retirement obligations The Lharily operate5 a defined contribuiion pension scheme which is a pension plan under which fixed conlributions are paid into a pension fund and the charity ha5 no legal or construclive oblig¢ltiL)n to pay further contributions even if the fund does not hold su1clent assets to pay all employee5 the benefits relating to employee servi¢¢ in ihe current and prior periods. Contributions lo defined contribulion plans are recognised in ihe Sthtement of Financial A¢livities when they are due. If contribution paymenis exceed the contribution due for service, the excess is recogni5ed as a prepayment. Flnan¢lal Injtruments ClaJslflcailon Financial assets and financial liabilities are recognised wh¢n the charity becomes a party to the contractual provisions of ihe instrumeni. Financial liabiliiie5 and equily instruments are classified accordin8 lo the subsiance of the contractual arrangemen15 entered inlo. An equity instrument is any conlra¢t ihat evidences a residual interest in the assets of the Chariiy #fter deducling all ot. its liabilities. Page 14

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year F.nded 30 June 2024 Recognlllon and ffteasmremenl All financial assets and liabilities are initially measured at transaciion price (including trnnsaction costs). except for those tinancial assets classified as at fair value through profil or loss, which are initially measured at fair value (which is nomially the transaction price excluding Iransaclion costs), unless Ihe arrangement constilules a financing transaction. Ir an arrangemeni constiluies a financing iransaciion, the financial assei or financial liability is Inea5ured ai the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial asse15 and liabilities are only offset in the statement of financi&l position when. and only when there exisls a legally enforLeable right to set off the recognised amounts and the charity inlends either lo s¢lll¢ on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights lo the cash flows from the financial asset expire or are settled, b) the charity trnnsfers to anoiher party substantially all of the risk5 and rewards of ownership of the financial asset. or c) th¢ charity, despite having retained some. but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are dere¢ognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 15

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year Ended 30 June 2024 Debl Inslrumenls Debt instruments which meet the following conditions are subsequently measured at amortised cost using Ihe effective interest method: (a) The contractual return to the holder is (i) a fixed amount; (li) a positive fixed rate or a positiv¢ variable rate: or (iii) & combination of a positive or a negative fixed rale and a posilive variable rate. (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked lo a single relevant observable index of b7eneral price inflation of the currcn¢y in which the debt inslrumenl is denominated. provided such links are not leveraged. (c) The contracl Inay provide for a delerniinable variation of the return to the holder during Ihe life of Ihe instrument, provided thal (i) the new rate satisfies condilion (a) and Ihe variaiion is nol coniingient on future events other ihan ( l ) a change of a contractual variable rate,. (2) to protect the holder against credit deterioration of (he issuer: (3) chan8es in levies applied by a central bank or arising from changes in r¢l¢vant taxation or law; or (li) the new rate i5 a market rate of interest and satisfies ¢ondilion (a). (d) There is no contractual provision thal could, by its tern)s. result in Ihe holder losing the principal amounl or any inleresl attributsble to the current period or prior periods. (e) Contractual provisions that pemit the issuer lo prepay a debt instrument or pemiit the holder to pul li back lo the issuer before Inalurity are not contingent on future events, other than to protect the holder against the credit deterioralion of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. (fj Contractual provisions may pemit the extension of ihe terni of the debi instrument, provided that the return to the holder and any other contractual provisions applicable durin8 the extended tenn satisfy the conditions of paragraphs (a) to (c). Debi instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of iinpairinent. With the exception of some hedging instruments. other debt instruments nol m¢elin8 these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impaimeni. Inve.Ilments Investments in non-convertible preference share5 and non-puttable ordinary or preference shares (where shares are publicly traded or Iheir fair value is reliably measurable) are measured at fair value ihrough profit or loss. Where fair value cannot be m¢ured reliably, investments are measured at cost less impairment. Investments in subsidiaries and associates are measured al cost less impainnent. For investments in subsidiari¢s acquired for consideration including the issue of shares qualifying for merger relief. cost is measured by reference to the nominal value of the shares i55ued plus fair value of other consideration. Any premium is ignored, Page 16

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year Ended 30 June 2024 Derlvoilveflnanclal Inslruments The charity uses derivative financial instruments to reduce exposure 10 foreign exchange risk and interest rate movements. The charity does noi hold or issue derivative financial instruments for speculative purposes. Derivatives are initially recognised at fair value at the date a derivative contracl is enlered into and are subsequently remeasured to iheir fair value at each reporting dale. The resulting gain or Ioss 15 recognised in stalemenl of financial activilies immedialely unless the derivative is designated and effeclive as a hedging instrument. in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship. Falr value measuremenl The best evidence of fair value is a quoted price for an identical a55et in an active market. When quoted prices are unavailable. the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction look place. If the markel is not active and recent transactions of an identical assel on th¢ir own are noi a good estimate of fair value. the fair value is estimated by using a valuation technique. 3 Income from donations and legacies Unrestricted funds General Tot81 funds Donations and legacies. Donations from individuals 5,100 5,100 Total for 2024 5,100 5,100 Totol for 2023 1,040 4 Income from charltable actlvltles Unrestrlcted Total runds IIL'neral Running of educalional scheme 105.140 105,140 Total for 2024 105,140 105,140 Total for 2023 148.252 148.252 Page 17

Wheels Vocational & Life Ski115 Centre Ltd Notes to the FinAncial Statements for the Year Ended 30 June 2024 S Expenditure on riiying funds a) Investment managemenl coslg UnrestrScted funds General Total funds Note Allocated support costs 49 49 Total for 2024 49 49 Total for 2023 Tot81 eosts 6 Expendlture on eharitable gctivities Unrestricted funds General Total funds Iyote Running of educaiional scheme Governance costs 6,690 317,604 6.690 317,604 Total for 2024 324.294 324,294 Total for 2023 354.042 354,042 Total expenditure In addition lo the expenditure analysed above. there are also govL'rndnce costs of £317.604 (2023 £346.710) which relate directly lo charitable a¢tivilie5. See note for turther details. 7 Trustees remuneratlon expenses No trustees, nor any persons connected with them. have receiv¢d any remuneration from the charity during Ihe year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. Page 18

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year Ended 30 June 2024 Staff costj The aggregate payroll costs were as follows: 2024 2023 Staff costs durlng the year were: Wages and salarie5 Pension ¢osts Other staff costs 148,656 3,276 9.105 172,310 3,199 14.739 161,037 190.248 The monthly average number of persons (including senior management I leadership team) employed by ihe charity during (he year expressed as full lime equivalenls was a5 follows: 2024 2023 Employees (2023 - 5) of the above employees participated in the Defined Contribuiion Pension Schemes. No employee received emoluments of more than £60.000 during the year. 9 Independent examiner's remunerallon 2024 2023 Examination of the financial statements 5,004 4.140 10 Taxatlon The charity is a regist¢r¢d charity and is therefore exempi from taxation. Page 19

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year Ended 30 June 2024 I l Tanglble Ilxed asyets Flxtures and flttings Motor vehlele5 TotAI Cosl At l July 2023 Additions 63,518 2,181 3.200 66,718 2,181 At 30 June 2024 65,699 3,200 68,899 Depreelatlon At l July 2023 Charge for the year 50,672 2.924 2.371 126 53,043 3.050 At 30 June 2024 53,596 2,497 56,093 Net book value At 30 June 2024 12,103 703 12.806 At 30 June 2023 12,846 829 13,675 12 Debtors 2024 2023 Trade debtors 21,667 9,566 13 Cash #nd eajh equlvalenls 2024 2023 Cash at bank 62,353 288,081 Page 20

Wheels Vocational & Life Skills Centre Ltd Iyotes to the Financial Statements for the Year Ended 30 June 2024 14 Creditors: amounts falllng due wlthln one year 2024 2023 Trade cr¢diiors Other taxation and social security Other creditors Accruals 2.558 2.015 626 3,252 3.630 636 3,792 8,058 8.451 IS Penslon and other scheme5 Deflned contrlbutlon pension seheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted lo £3,276 (2023 £3,199). 16 Share capltal 17 Fundg Balance ai I July 2023 IDcoming resoureej Resources expended Ballnce at 30 June 2024 Unrestrlcted funds General 302,871 110,240 324.343 88.768 Balance at I July 2022 Incoming resources Resoureej expended Balance At 30 June 2023 Unrestrlcted funds G¢neral 507,629 149,292 354.050 302.871 Pa8e21

Wheels Vocational & Life Skills Centre Ltd Notes to the Financial Statements for the Year F.nded 30 June 2024 18 AnAlysls of net assels between funds Unregtrlcted funds General TotMI funds 8t 30 June 2024 Tangible fixed assets Currenl assels Curreni liabiliiies 12,806 84,020 8,058) 12.806 84,020 (8,058) Total nel assets 88,768 88.768 Unreytrleted rund5 General Total funils at 30.lune 2023 Tangible ftxed asse15 Current assets Current liabilities 13.675 297.647 8.451 13,675 297.647 8.451 Total net assets 302,871 302,871 19 Analysls of net funds At 30 June 2024 At l July 2023 Cash at bank and in hand 288,081 288,081 Net debt 288,081 288.081 At 30 June 202J At l July 2022 Cash al bank and in hand 459.431 4.59,431 Nei debi 4.59,431 459,431 20 Relited parly transaetlons Page 22

Wheels Vocational & Life Skills Centre Ltd Detailed Statement of Financiydl Activities for the Year Ended 30 June 2024 Total 2024 Total 2023 Income and F.ndowments from: Donations and le&?a¢ies {analy5ed below) Charithble aclivilies (analysed below) 5,100 105,140 1,040 148,252 Total income 110,240 149,292 Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) (49) 324,294 (8) 354,042 Total expenditure Nei expenditure 324,343 354,050 214,103 204.758 Net movement in funds (214,103) (204.758) Reeonclllatlon of fund$ Total funds broughi forward Totsl funds carried forward 302,871 507.629 88.768 302,871 This page does not fonn part of the statutory financial statements. Page 23

Wheels Vocational & Life Skills Centre Ltd Detailed Statement of Financial Activities for the Year Ended 30 June 2024 Total 2024 TotAI 2023 Donallon.s and lexacles Appeals and donalions 5,100 1,040 5,100 1,040 Charllable ac¢lvliles Primary purpose trnding Contractual income from government or publi¢ authorities Other .097 93,191 3.852 19,893 120,961 7,398 105,140 148,252 Ral.Iln8lunds Travel and Subsistence The audit of the charity's annual accounts 50 10 49 Chorliable acilvlile Purchases Protective clothing Wages and salaries Staff pensions Subcontracl cost Staff training Health and safety StatT costs Rent Rates Light. heal and power Repairs and renewals Telephone and fax Computer software and maintenance costs Printing. postage and slationery Trade subscriptions H ire of plant and machinery (Opernting leases) Sundry expenses CIL'aning Molor expenses Advertising Independeni examinerfs fee Professional indemnity insurance Legal and professional fees Bad debts written off (6.581) (109) (148,656) (3.276) (6.513) {778) (1.630) (184) {80,J74) 233 (390) (17,756) (10,279) (6.150) (3,45J) (3,914) (5.626) (961) (3.468) (419) (955) (5.004) (7.917) (6.947) (7) (6,249) (1,083) (172,310) (3,199) (9,862) (3,456) (1,392) 129) (51,092} (1,689) (4,0841 (12.560) (9,554) (7.154) (4,198) (6,915) (24.744) {3,305) (2,902) (115) {1,601) (4,140) (10,619) {1,885) (6,280) This page does not forni part of the statutory financial statements. Page 24

Wheels Vocydtional & Life Skills Centre Ltd Detailed Statement of Financial Activities for the Year Ended 30 June 2024 Total 2024 Total 2023 Bank charges Depreciation of planl and machinery Depreciation of fixtures and fitlings Depreciation of motor vehicles Depreciation of 01¢¢ equipment (130) (1.052) (512) (126) 1,360 (262) (1,316) (239) (157) 1.651 324,294 2024 Unreslricted 2024 Total 2023 Genernl Total Don4llons and leKocles Appeals and donations 5,100 5,100 1.040 5.100 5,100 1,040 2024 Unrestricted 2024 Tolal 202J General Tolal Charllable acllvltles Primary purpose trading Contractual income from government or public authorities Other 8,097 .097 19.893 93,191 3,852 93,191 3,852 120,961 7.398 105,140 105,140 148,252 2024 Total RalslnKfun(ts Travel and subsistence The audit of the charity's annual accounts 50) 49 This page does not forni part of the statutory financial statements. Page 25

Wheels Vocational & Life Skills Centre Ltd Detailed Statement of Financial Activities for the Year Ended 30 June 2024 2024 Unre5trleted 2024 Total 2023 General Tot*1 Charliable acllvllle,I Purchases Protective cloihing Wages and salaries Staff pensions Subcontract cost Staff training Health and safety SialT costs Rent Rates Light, heat and power Repairs and renewals Telephone and fax Computer software and maintenance costs Prinling, Postage and stationery Trade subscriptions Hire of plant and machinery (Operating leases) Sundry expenses Cleanin8 Motor expenses Advertising Independent examiner's fee Professional indemnity insurance Legal and protessional fees Bad debis written off Bank Lharge5 Depreciation of plant and machinery Depreciation of fixture5 and littings Depreciation of moior vehicles Depreciation of otTice equipment (6.581 } (109) (148,656) (3,276) 16,513) (778) (1,630) (184) (80,374) 233 (390) (17,756) (10.279) (6.150) (3,453) (3.914) (5.626) (961) (3,468) (419) (955) (5.004) {7,917) (6,947) (7) (130) (1.052) (512) (126) 1.360 {6.581) (109) {148,656) (3.276) (6.513) (778) (1.630) (184) (80.374) 233 (390) (17.756) (10.279) (6.150) {3.453) (3,914) (5,626) (961) (3,468) (419) (955) (5,004) (7,917) (6.947) (7) (130) (1.052) (512) (126) 1.360 (0,249) (1.083) (172,310) {3,199) (9,862) (3,456) (1.392) (29) (51,092) (1,689) (4,084) (12.560) (9,554) {7,154) (4.198) (6,915) (24,744) (3,305) (2.902) (1.601) (4,140) (10,619) (1.8851 16,280) (262) (1,316) (239) (157) 324.294 324,294 This page does not forni part of the statutory financial statements. Page 26

Wheels Vocational & Life Skills Centre Ltd Detailed Statement of Financial Activities for the Year Ended 30 June 2024 2024 Totthl Yovernanee c(psls Wuges and salaries Siall. pensions Sub¢oniract Cost Siaff Iruining Health gnd 98tety sttT eo.4ls Rent tiates Light. heal and power Repuirs gnd reiiewal8 TelephonL And fax C.ompuler sollware and mAinlenance ¢0818 Priiitiii¥. postage und slaiioncry TradL subsLriplions Hire of plant and machinery {Operaiinbi leases) Sundry expen%e8 Cleaning Moior expenses Advertisin¥ Indcpcndent cxaminer's fee Professional indemnily insurance Legal and prolc48ional fee4 Bad debis wrillen off Baiik charges Dcprccialion of plant and mplcliinery r)eprcLlalion of fixturcs and fillin¥$ Depr¢¢i&tion of mc)tor vehiLle D¢'pr¢¢iatiun of ulTice equipnicnl (148,6561 {3,276) 16,513) {778 11,6.In) 1184) (80,-J741 233 13901 (17,7561 (10.2791 (6.1 fjo) (3,4531 (3.914) (5.626) 1961) (3.4C)8) (419) 1955) (5.1)IM) (7,917) (6.9471 (71 (1,052) 15121 11261 1,360 317,6U4 This pa¥e does not fonn p8rt of the statutory financial statements. Page 27