Charity registration number: 1162957
The Career Colleges Trust CIO
Annual Report and Financial Statements for the Year Ended 31 August 2024
KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
The Career Colleges Trust CIO
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 13 |
The Career Colleges Trust CIO
Reference and Administrative Details
Trustees Ms R Gilbert Ms J A Lloyd Mr M Silverman Charity Registration Number 1162957 Principal Office 1st Floor, Block C The Wharf Manchester Rd Burnley BB11 1JG Independent Examiner KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG Bankers Co-op Bank 1 St Peters Square Stockport Greater Manchester SK1 1NX
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The Career Colleges Trust CIO
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2024.
Trustees
Ms R Gilbert
Ms J A Lloyd Mr M Silverman
Objectives and activities
Objects and aims
The objects of the charity are as follows:
To advance education for the public benefit by:
(a) assisting in the establishment of colleges for 14-18 year olds for the provision of vocationally-focused programmes of study (Career Colleges);
(b) advancing the efficiency and effectiveness of education in Career Colleges by the provision of educational support services.
Introduction
This is the final report of Career Colleges Trust CIO as the trustees have decided to close the charity. The trustees wish to thank all who have been involved with the charity over the many years of its existence.
The report below is to provide the context of the final financial year.
Objectives, strategies and activities
The principal activity of the charity is the provision of education support services and improve the career prospects of young people, with a clear focus in sectors with acute skills shortages. Over the past twelve months the focus has been on the key area of digital construction through a 5-year project funded by Sir Robert McAlpine Ltd. Many of our clients in the Further Education sector need support to engage employers in these key skills shortage areas to engage employers in shaping the focus and direction of their college.
The Trust has strong relationships with employers in the construction sector who have supported the development of a digital literacy framework which can be embedded into vocational construction course. The framework is designed to ensure young people studying construction also develop knowledge and competence of software and tools used in the industry. Over the past year the Career College Trust has developed a suite of micro credentials to accredit young people with the digital skills they developed as part of their studies on the Digital Construction pilot courses. In addition, micro credentials have been used to accredit the Continuing Professional Development offered to college staff, which includes understanding and delivering project-based approaches to teaching and learning and embedding the digital construction framework into the construction curriculum.
The financial year 2023-24 saw the last year of project funding from Sir Robert McAlpine Ltd, who were pleased with the outputs of the project, both in terms of material development and engagement with teachers and students.
Established in 2013 the Career Colleges Trust were trailblazers, telling and showing DfE how critical employer-led education was to improve the life and work prospects of young people. Our founding principles - notably:
- ensuring skills for work, and industry-led career preparation in professional/ technical education, and
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The Career Colleges Trust CIO
Trustees' Report (continued)
- embedding 'work readiness' through co-development of curriculum, projects and work placements, with employers
The political and educational landscape has changed significantly since the inception of the Career Colleges Trust, with employer engagement now a fundamental part of government policy demonstrated through the implementation of T Levels and a stronger focus in the Ofsted Inspection Framework now Skills England will continue the mantra. Colleges have therefore developed a greater understanding of the needs of employers and are less reliant on external support.
Our CEO, Bev Jones, having been with the charity for eleven years retired on 31st August 2024 and as the reach of Career Colleges has reduced in the past two years, Trustees made a decision to close the Career Colleges Trust. Surplus funds will be transferred to a charity (South East Essex Advanced Technical Skill) that will use the funds to support young people and adults into training and regional employment- not cover cost of training.
The Career College model is based on international educational research and evidence of a European education model, which demonstrates the benefit of engaging young people in vocational learning and education at 14. Research evidence is published by many organisations, including the Edge Foundation, Cambridge University and the Institute of Education, and largely draws on the education systems in Denmark, Germany and Switzerland. The model also draws on some lessons from American Career Colleges, notably the Food and Finance School in New York.
The concept of Career Colleges in the UK has been developed by the charity itself (the Career Colleges Trust - founded by The Lord Baker in 2013) researching good practice in work experience, careers education, delivery of maths, English and science, effective use of learning technology and enterprise education and bring it together to form one complete vocational learning package for 14-19 learners. The model is further enhanced by employer links and is designed to provide an outstanding learning experience, equipping young people with the right knowledge and skills to ensure they enter the market 'work-ready', which, at a time of high youth unemployment, is a critical factor. OfSTED inspectors have been consulted in the process of developing the model and have joined visits and provided positive feedback on the Career College model.
Career Colleges are unique and innovative - they have:
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Curriculum designed by employers, for employment. Students get involved in industry projects and wider employability skills including contextualise digital skills.
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Excellent progression pathways including higher level apprenticeships, University and fulfilling employment. 3. Employer partners who are involved with both the design and delivery of each Career College's innovative curriculum.
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Career College Boards which shape the curriculum and inform future direction of the vocational provision. 5. A minimum of 40% of board members of the Career College who are local/regional employers for the relevant sector.
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Extended curriculum designed to develop wider employability and digital skills required for sustainable employment in the digital economy.
Each College has a distinct way of working and as such, much of the delivery and an element of unique local factors will influence the model. However, all Career Colleges are underpinned with our core charitable values (e.g. may not operate for profit, accessible to all), CPD and commitment to effectively engage learners the two current curriculum areas of digital technology and digital construction.
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The Career Colleges Trust CIO
Trustees' Report (continued)
A Career College license to practice is granted based on the College meeting clear criteria. Fees are paid as a contribution towards support services, CPD and resources, which the College agrees are required to meet the standards expected of the Trust.
The Trust provides support with employer intervention, establishment of employer boards, CPD for staff and a range of webinars and resources for staff and students. This ensures the effective support of learners to be work-ready in a specific sector, bringing industry leaders to the table to support this critical work, without the undue influence of one employer.
The Trust seeks a Licence fee (as a cost contribution to support services) based on a negotiated set of outputs which include:
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Work experience and employer engagement- practical direction and skills development.
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Staff CPD requirements.
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Digital skills for our digital economy.
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Wider supports provided based on individual requirements.
As well as offering a clear brand and international identity for excellence - our branded support offer draws on the expertise and infrastructure of mainly existing FE establishments, and some schools. Building on this, the Career Colleges Trust provides a robust toolkit for employersr and educators. We also recognise the potential for FE colleges with particular specialisms or best practice to offer their services (CPD, systems, tools) to other Career Colleges as part of the membership model.
The Trust is concerned to ensure that others do not purport to meet Career College standards without our ongoing monitoring and assurance of this. The Career College sponsors also distinguish themselves as regional centres of excellence and specialism, using some of their own intellectual property in the process, often in competition with others. In order to ensure these Career Colleges are financially viable and sustainable organisations, the Trust commits to not setting up another Career College in the same specialism within the same locality, as this will not benefit learners.
Public Benefit
The Trust is committed to the public benefit through advancing education that improves the work prospects of young people and commits all Career Colleges to a not for profit open access education model for 14 to 19 year olds.
The specific resources and detailed education model for each Career College provides a quality mark- an assurance to learners, parents and employers that the education in a branded Career College has been designed by industry for industry- giving young people the best chance of employment in a growing sector. The Trust is concerned to ensure that others to not purport to meet Career College standards without our ongoing monitoring and assurance of this. The Career College sponsors also distinguish themselves as regional centres of excellence and specialism, using some of their own intellectual property in the process, often in competition with others. In order to ensure these Career Colleges are financially viable and sustainable organisations, the Trust commits to not setting up another Career College in the same specialism within the same locality, as this will not benefit learners.
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The Career Colleges Trust CIO
Trustees' Report (continued)
ACHIEVEMENT AND PERFORMANCE
Employer engagement:
Over the first eight years of operation over 800 regional, national and local employers have engaged with our Career Colleges, many on a regular basis. Over the last few years Amazon Web Services and Sir Robert McAlpine Ltd have been key supporters of the Trust. Sir Robert McAlpine continues to fund the development of a Digital Construction Career College, which has now been in operation for four years. Additional employers from the construction industry (including Belfour Beatty, Morrisons Construction, Robertsons Construction) have also supported the development of the digital construction project.
Reputation/brand growth:
We have focused on raising our profile with employers in the sectors we currently specialise in and have achieved this through regular social media campaigns and some coverage in educational press.
Collaborative Projects:
Over the past twelve months the The Career College Trust has focused on collaborative digital projects including the work with Amazon Web Services, which ended on 31st August 2023. The digital construction project funded by Sir Robert McAlpine and supported by employers in the construction sector has now completed it’s fourth year and will end on 31st August 2024. The project has resulted in the development of a digital construction framework which can be embedded into current construction curriculum in FE Colleges. The framework is also of interest to employers who believe that it can be adapted for use in their own organisations as part developing the digital capabilities of their own staff.
Open Career Colleges - September 2022 to August 2023:
The financial climate for colleges is challenging, exacerbated by the current cost of living crisis, therefore the Career College Trust has streamlined its work to focus on just two key sectors, digital technology and digital construction and therefore is only currently engaged with seven FE colleges. Two new colleges joined in September 2022 - Oaklands and Windsor Forest College both specialising in digital construction.
In addition, there are five colleges who continued to work with CCT, these include: Hugh Baird, Birmingham Metropolitan College, Coleg Gwent, New College Durham and City of Glasgow.
FINANCIAL REVIEW
Funds
The reserves as at 31 August 2024 of £7606 were distributed after the year end.
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The Career Colleges Trust CIO
Trustees' Report (continued)
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Career Colleges Trust is a Foundation Charitable Incorporated Organisation, having converted from being a charitable company limited by guarantee on 14th October 2020. The charity is governed by its Constitution of the same date.
Recruitment and appointment of new trustees
The trustees are responsible for the overall management of the charity.
The trustees during the period and to the date of signing are shown on page 2.
New trustees are inducted into the practical work of the charity when they are appointed and are kept informed about their duties and responsibilities as appropriate.
The annual report was approved by the trustees of the charity on 23 June 2025 and signed on its behalf by:
......................................... Ms R Gilbert Trustee
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The Career Colleges Trust CIO
Independent Examiner's Report to the trustees of The Career Colleges Trust CIO
I report to the trustees on my examination of the accounts of The Career Colleges Trust CIO for the year ended 31 August 2024.
Responsibilities and basis of report
As the charity trustees of The Career Colleges Trust CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the The Career Colleges Trust CIO's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material 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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accounting records were not kept in respect of The Career Colleges Trust CIO as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
...................................... Mark Heaton FCCA FCIE DChA KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
23 June 2025
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The Career Colleges Trust CIO
Statement of Financial Activities for the Year Ended 31 August 2024
| Note Income from: Charitable activities 2 Expenditure on: Charitable activities 3 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 9 |
Unrestricted funds £ 4,951 (49,962) (49,962) (45,011) (45,011) 52,611 7,600 |
Total 2024 £ 4,951 (49,962) (49,962) (45,011) (45,011) 52,611 7,600 |
Unrestricted funds £ 136,327 (105,886) (105,886) 30,441 30,441 22,170 52,611 |
Total 2023 £ 136,327 (105,886) |
|---|---|---|---|---|
| (105,886) | ||||
| 30,441 | ||||
| 30,441 22,170 |
||||
| 52,611 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 9.
The notes on pages 10 to 13 form an integral part of these financial statements. Page 8
The Career Colleges Trust CIO
(Registration number: 1162957) Balance Sheet as at 31 August 2024
| Note Current assets Debtors 7 Cash at bank and in hand Creditors: Amounts falling due within one year 8 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 9 |
2024 £ - 7,600 7,600 - 7,600 7,600 7,600 |
2023 £ 64,308 22,665 |
|---|---|---|
| 86,973 (34,362) |
||
| 52,611 | ||
| 52,611 | ||
| 52,611 |
The financial statements on pages 8 to 13 were approved by the trustees, and authorised for issue on 23 June 2025 and signed on their behalf by:
......................................... Ms R Gilbert Trustee
The notes on pages 10 to 13 form an integral part of these financial statements. Page 9
The Career Colleges Trust CIO
Notes to the Financial Statements for the Year Ended 31 August 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Career Colleges Trust CIO meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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The Career Colleges Trust CIO
Notes to the Financial Statements for the Year Ended 31 August 2024 (continued)
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
2 Income from charitable activities
| Licence fees Courses & learning programmes Other income |
Unrestricted funds General £ 3,500 - 1,451 4,951 |
Total 2024 £ 3,500 - 1,451 4,951 |
Total 2023 £ 136,300 27 - |
|---|---|---|---|
| 136,327 |
3 Expenditure on charitable activities
| Note Charitable activities Governance costs 5 |
Unrestricted funds General £ 48,513 1,450 49,963 |
Total 2024 £ 48,513 1,450 49,963 |
Total 2023 £ 104,436 1,450 |
|---|---|---|---|
| 105,886 |
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The Career Colleges Trust CIO
Notes to the Financial Statements for the Year Ended 31 August 2024 (continued)
4 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
5 Independent examiner's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Examination of the financial statements | 1,450 | 1,450 |
6 Taxation
The charity is a registered charity and is therefore exempt from taxation.
7 Debtors
| Trade debtors Other debtors 8 Creditors Trade creditors VAT payable Accruals Deferred income Deferred income at 1 September 2023 Resources deferred in the period Amounts released from previous periods Deferred income at 31 August 2024 |
2024 £ - - - 2024 £ - - - - - 2024 £ 27,000 - (27,000) - |
2023 £ 62,523 1,785 64,308 2023 £ 63 5,948 1,351 27,000 |
|
|---|---|---|---|
| 34,362 | |||
| 2023 £ 107,000 27,000 (107,000) 27,000 |
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The Career Colleges Trust CIO
Notes to the Financial Statements for the Year Ended 31 August 2024 (continued)
| 9 Funds Unrestricted funds General Unrestricted funds General |
Balance at 1 September 2023 £ 52,611 Balance at 1 September 2022 £ 22,170 |
Incoming resources £ 4,951 Incoming resources £ 136,327 |
Resources expended £ (49,962) Resources expended £ (105,886) |
Balance at 31 August 2024 £ 7,600 |
|---|---|---|---|---|
| Balance at 31 August 2023 £ 52,611 |
10 Analysis of net assets between funds
| 10 Analysis of net assets between funds | ||
|---|---|---|
| Current assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 7,600 Unrestricted funds General £ 86,973 (34,362) 52,611 |
Total funds at 31 August 2024 £ 7,600 |
| Total funds at 31 August 2023 £ 86,973 (34,362) |
||
| 52,611 |
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