ABBERTON RURAL TRAINING ANNUAL REPORT AND UNAUDITED FINANCIAL sfATEMENTS FOR THE PERIODTO 31 MARCH 2024 arfty R•#htrkn No. 1169247
ABBERTON RURAL TRAINING LEGAL AND ADMINISTRATIVE INFORMATION Trust••g Anne Brown (Chalrl Poul Mlfisley Ireslgned January 20241 Trlstan 8ourne Ires[¥r No¥ember 20231 Anthony Stamp TIM Ffances Rebeccè Chllver Iresllned November 20231 Lewl$ 8arber lappolnted Ortober 20221 (rIty nfflb•r 1169247 R•ilrt•r•d oftk• Abberton Rural Tr•lnlni Th• Old St Andrews Prlm•ry School Church Road Wormlnglord C063 Ind•p•nd•nt •x•mln•r C•lln• Hotonnl•r FMA4T London NWIO 3TJ P•ge | I
ABBERTON RURAL TRAINING CONTENTS Lee•l and Admlnlstratlve Inform•tlon Contènts Tru$¢ees' feport Stoternent of Trustees, respon$lbllltles Independent examlnw's report Statement of Ilnonclal actlvltles io B•l•nce sh•et li Note5 to the fln•1 s¢4tem¢nts 14-18 Page | 2
ABBERTON RURAL TRAINING TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present thelr report and ffnCIlI ststements for the year ended 31 March 2024. The fln•nclal st•tements have been prepared In accor(lance wlth the ac¢ountln8 pollcles set out In note I to the flnantlal statement5 and cornply wlth the charlty's Constltutlon. the Charltles Act 2011 and "Accountln8 and Reportln¢ by Ch•rlt5es: Statemeni of RernMended Pr•rtl¢e 8pplk•ble to tharltles preparlnR thelr •ccount$ In ccordance wlth the f In3nclal Aeportlng Standard oppllcable In the UK and Republlc of Ireland IFRS 1021. (Is amended for accountln8 perlods commenclng from l January 20161. ObJ•¢tl¥•J •nd •¢ll¥lll•J The oblects of the Chorlty are.. The advancement of educ•tlon. tr•lnln8 or retr•lnln& Ind The rellef of those In need In partlcular, bul not excluslvdy •rnon8 unemployed pèople in E53ex provldln8 them wlth work •xptrlenct, volunteeiln8 opportuftitl•s. meniorlnq •nd rufol emplpyablllty •nd cr•ft skllls r$t$, Ind by sUpporn$the1r rlnre8r•tlon back Into the rur•l communlty or by such other rneonsas mayfrtsm tlme totlme be detemlned gjbltci tothe prlof wrliten consent ofthe Charltv Commlsslon for En¥l•nd and Wale5. ART Is •nd wlll rtm•ln a not-lorrofft oryanlsrtlon focused on help1 to develop th¢ skllls needed for lobi In the locol economy ol Essex Jnd surroundlnl •r•as. W• are'A Pl•ce to Gro. Our vlslon Is: Abberton Rurnl TTJlnln8 wlll dell¥ra parCIpInt Itd pro8ramm•olquallty rur•l 111$ trjlnlngwlth plrtlcular focus on IndIdual support to ¢ho5e facln8 30clal and èrnotlonal barrlers or dlsadvanta8e, Improvlni ¢onfldènct and hollstic wdlbelng. En•blln8 proiresslon to tralnln& fvrther educatlon, employmentlself- tmployrnent or voluntterlng whllst protertinq and enh•ndn8 the envlronrnènt. To d•llver thlsvlslon ART msjst be $t1[A•bI• In th• lon¢i•mi so11 tt can contlnueto d•lfv•r tr•lnln8s•rvlc•s. In doln4 thls ART wlll adopt the lollowln¢ •lrns. ART wlll: Focus on edutatlon and throuKh thli also delhTer benefits In terms ol Improved mploy•bllliV Ind wellbeln8 Focu5 on meetin8 skills needs In the ¢omrnuntty Provlde • route b•¢k Into tr•lnlng and ureers for those who are ttmporarlly excluded from th* jobs market Support those who are 51fu8Oln8 to enter th•lobs rn•rk•t for the flrst tlrne Support people who need new skllls •nd strate8les to adapt to thanges In th•lobs m•rket Support those wh ment•1 heallh or physkal health Issues or othèr bathers In pursuln8 thls 510n. the Charlty Is committed io m4kln8 a re41 dlfference to the Ilve5 of ptople In E$sex and surroundln8 areas by focussln8 on helplng those who are ouislde the workforce, eduutSon and tra5nin8 to r ¢n8•8e wlth tralnln8. The alm Is to equlp tr•lne•s ¥th the Eonfidenre. skllls thnd quallfScatlon$ to enable thern to pro8ress Into ernploymtnt. $elf-employmtTrt or further education and tralnin8. In dolng this. the Chèrlty wlll help eMplor$ to secure the motivated. skilltd Ind qualified staff they need to grow thelr or8anisallon5. and in turn to 5tren6then the lo¢al economy. P38e13
A88ERTON RURAL TRAINING TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In addltlon to the benefits the Charfty brtngs to It¥ p•rtlclpafits. the local communlty 4nd s[ety throu8h the educatlon It offers, the ChJrltV5 help and ossistanc• to those In need Includln8 mntorlth& advocicy and employab511ty. cr•te a se<lèl asset and $0 reduces the loni-temi costs to the Excheqver. The Trustees are spOnsIble lor settln¢• $trateoy for •thlevln8tht oblectlves they have set. The focus Is on the development ol parttcip4nts ind théir educ•tlonal and sod81 proyess and to wlden further the access to the educatlon the Charfty prov5des. F¢xus wlll be malntalned on $L¥ Ilnked enablln8 area5 ltsr8anlsatlgn•l strurture, prern15es. staffin& ICT. MartIn8 and flnanclal pérformancél to •chleve and rnalntaln a sustalnable buslness whlch deler5 ARTS strJte81¢ obltctlves. Thls wlll Indude.. 11 SeNlce: Course portfollo - develop and rnalntaln a porrfollo of courses whlch stays Current wlth both tr•lnee and employer dèmands. whllst b•lni fundoble and all8fied wlth AAT'S str•teilc focus on those who are dlsadvant•ied, outslde thelobs m•rket or It olex¢luslon from th• trilnlng and lob5 market In tht loc•1 oconomv. 21 En•blln¢- Or8anls•tlon•l stru¢tur-ART wlll ¢ontlnue ts oper•te •$ • ¢h•rfji8ble orynls•tlon ICIOI siaffln8- contlnue to ensure 8pproprl•t¢ ¢o¥ér for roles wlth a senlor man•qernent te•m enjbllnq locus on hlgh quallly tr•lnlfi8 dtllvery supported by • te•m of re and ctsntraet tutors wlth •pproprlatè relltionshlp rn•n48ement, communlcatlon •nd bus5ness development Jnd robust flrs•ndJl control asslsted where approprlate byextemjl profe$51onals Prernlses - Adrnlnlstr•tlv• HQ Currently 41 Chathèrn Green wlll rnove to • new slte 4t Me•dow Vlew, Chelmsford Irorn ill May 2023. wh5ch will bt ablt to pro¥lde Jddltlonil p•rt5tlpant pro8rammes and g•rden, at • reduced cost to the thjrlty cornpbred wlth the current prernlsts. Wormlngford continue5 01 our moln operational 51te whh satelllte partner sltes provldlnq •ddlllon•l cover•ge •cross the ¢ounty •nd further afleld •$ •pproprl•te. The Board and sènsor m•n•8ement wlll continue io re8ularly revlew the strntegy for rnair premlse5 for ART MJrketlng- contlnue lo develop and Implement i m•rkètlng $tr•te8y whlth focuses on keepln¥ ARfs proflle as a leid provlder and resource wlth p)tentlal trllntes. dellvery partners and fundln¢ bodies vla enii8emeftt and promotion of ARf5 provlsion Compll•nce- énsure that ART rernalTrs fvlly compllont wlth all approprlote leqlsl?tloTh. In t•klni the Ch•rlty forward. thtCh•rlty WNI.. Revièw thè Charws courses. progress and achlevernènts Ensure the range of Courses avallable to Its partldpants is meètlngthelr needs Invest In e5tablishln8 the nece5$0ry lTrfvastrutture of the Chaty Cwperat• and work wlth publk bodles, other charltlès. eommunlty organlsotlons and partntrs.. and ontlnue to revlew and develop Its mèthods tts ensure wlder access to partlclpants ftom all back8rounds. Abberton Rural Tralnlng (ARTI 15 4 CIO ¢h•rlt•ble trtsst. whlch seeks to benefft the publ1¢ Ihrou8h the pursult of Its stated alm%. Its eourses are free to p•rtlclp•nts In order to ensure aCcesslI1ty for all. •nd partluklarfy those frtsm dlflicult backgrounds or In difficult ciicumstances lTrcludln8 homele55nes5. Page14
A88ERTON RURAL TRAINING TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Charlty welcomes pard¢lpant5 frorn bathgrounds. The Charfty has contlnued to seek to be all Ineluslve, partltularly tg thosè in lsolauon See0 to be tr•lned. We tontlnue to engjre our courses are Jccesslble to 411. An indl¥ldu•l'$ economlc Sta$. health. #ender, ethnl¢lty. rxe, rellBlon or disjblltty does n¢t form part of the Charlty's Jcceptance processes. Thè Charlty Is In equal opportunltles orpnlutlon and Is commltted to a worklne envlronment that Is free from •nyform of dlscrlmSnatlon on the grounds of colour. r•ce. elhnidty, rellglon, Sex, sexual orlentation Dr dlsablllty. The Ch•rlty makes re•sonable idlustrnents to rneet the needs of staff or partldpants who •r• or b•eome dIbled. The Chorltyls comnltted to s)fe8uardln4 Ind promotln8 the welf•rt of It5partlclpanis •nd expects •ll sllff •Thd voluntews to share th15 cornmltmtnt. A¢hl•¥•m•nts •nd p•rfomwne• The Charlty has tontlnuéd to evolve and deVeP courses, subject to fvndlng avallablllty and dtmand. Currént ¢ourst5 for th15 year Include Hortlculture. L•nd 8osed Studles. Courbtryslde & envlrtsnmtnt, Wotsdlinds, Construetlon, C•rpentry, R¢Jral Crafts •nd Text51es. Wt hive groups to ficllltate •C¢eIbIlttY for NEETS, SEN, Wounded and Injured Ser¥5ce Personnel (Rustlc Rtctsver Pro8rammè- RRPI, Domestlc Abuse ¥lctlm$, Moderate L••rnlni Dlfflcultles and multlple dls•dvant•8e iroups. 810 partldpant l•rnlng spaces were tlken In these ART ¢ourses durlni the p•rlod Aprfl 23 to M•f¢h 24 wtlh • tot•1 0126,79) Gulded Lèirnlni hours provld•d. The Ch•rltf5 work contlnue5 Work at lo¢atkns throuthout Essex, Includlni our maln ld offSce It Mudow Vlew, toyther wlth Wormlngford.. Stow Maries Gr••t W•f Aerodfome,. Wackwater Lelsurt Centrt. Mbldon,. Kennedy Way. Clacton,. Cre5s1n& H•dlel8h,. Avon Rold, Chelrnsford.. Hadlel8h Country Park,. All 5alnts, Harwlch,. Abtseyfields Medlcal Centrè. Ind Colch•sler,' ARP IRu5tlc Rffovery Programmtl. Fln•n¢l•l r•¥l•w The Trustee$ fequlre • rnlnlrnum of 3 months core costswlthln Reserve5 to be 5ufflclent to enjble the thirlty to meet 5ts neKt 3 months, dlrect expendlture. A$ It 31 March 2024 th1% •qu•ted lo • rnlnlrnum requlrment of £89.557 In Unrestrlcied R*seNes. Th• actu•l unrtstrlcted Reserves x at 31° fvlarch 2024 amounted to £24.367. The Trustees have assessed the major risks to whl¢h the th•rlty Is exposed. and are sètlsfied that systerns Ire In plac• to mlti8ate exposure to the rnalor rl$k$. The Bo•rd of ffustees revlew the charlty's R5sk Aeil$ter at e•ch of Its bl-rnonthly meetin8s. The rnaln strète8lc rlsks facin8the tharity 8oin8 forw•rd are.. I, Loss of key stoff SKurlty of assets L•ck of ongoSn8 fundin8 Loss Ot reputatlon Internal flnanclal rfsks are mlTrlmlsed thrtyJ8h the Implementatlon of robull flnandal control pr¢¢•dures Includln8 reguSar reportsto the Board of Trustees. Pa8e15
ABBERTON RURAL TRAINING TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Charhy continues to dtvelopfvrther partnershlps and fvndinq opportunltlesto Inue4se fvrther the number f partldpants able to partlclpate Sn fts progrommes. Ilalsing with other orgjnlsatlons lor refrr•ls and partnérships. ARTrèco8nises thè lrnportanceof worklniwlthothers dWn1WOrk toensure It has and milntaSn5 clear partnershlps ITh place wlth: Strète8lc e%lucatSonal p•rtnerl51 un help It to Kce55 fvndln8 QPPOrtunltls andlor valldate ARf$ course provlslon Counc115, DWP. DfE. Essex Cornmunlty Foundatlon IECFI, Artlve Essex, buslnesses •nd other strateg1¢ partners who hivt fvndln8to support ti•lnln8 Colleges and èmploy•r$ who c•n offer pro8resslon opportwiltl•s for those trilntd by ART LocJl l•ndlords Includln8 E•stll8hi Communlty Homes. C8 Hornes, CSH. Pho•nlx Hornes, Peabody e Golng forward we wlll contlnuè to Ilalse wlth local and n•ilonal8overnment b)dles Includln8the Department of Work and Penslons. the Pollce. the Hl8h Sheflff Of Essex and Essex County Coundl Ernployablllty and Skllls tearn and other charlty orqan5s•tltsns. such •$ Essex Communlty Fund, to ensure that the Clar5ty5 programme and courses rernaSn relevjnt and up to date wlth loc•1 r•qulremènts. p•rtlcul•r skllh short48e relevint lo local ployrnent oppgrtunltles, The Chirlty contlnues to develop J neh¥ork of outreach lacllltles to provlde relevant wurses wlthln •cceptabl• dlstances to meét thè demands and needs ot the communlty all8ned wtth the Charlt¢s $tr•teqlcfotu$ for those ho aré out51de thelob$ m•rket or It r5sk of excluslon frorn tralnln8and Ihelobs morket In the local communltv. Th• Ch•rlty antlclpotes Ihat Ils fvtur• wlll contlnu• to b• fln•n¢•d prlrnarlty from fundlni Incom• Iyn•r•lly. on an annual ry¢lel •nd therefore the 8rd ofTru5tees ctsntinueto m•ifit•ln In •pproprlate between delfvery lor ihe beneflt gf curreni partldp•nts •nd •nsurln8 a sound lftfr•structur• and fin•ntl•l b•Je •re preseryed for fvtUTe partSclponts. Struclw•i ¥•rn•lK• rn•n•pm•nt The Char4ty operate5 und•r • constitutlon of • Ch•rit•ble Incorporited Or8•nlsatlon IAs$o¢latlon Model), wlth the date of thecon5tltutlon Ilast •mendedl of 8th September 2016 and wis se•led by the Chirlty Commlssloners fDr En4land and W•les on 19th September 2016 whlth Induded the re4ulations for oppolntnnt of trustees. The Trustèès who sorved durln8 Ihe yur and up to th• date of SI41re of the flTrand•l statements were: Ann• Brown ICh•lrl Paul Hlnslty Irsl8ned J•nuJry 20241 Tr5stan Bourne Iresl8ned November 20231 Anthony Stamp Tlrn Frances Rebecci Chllver Ireslgnd N¢)vember 20231 Ltwls B•rts•r lappointed October 20221 The 8oird of Trustts are responslble for the o¥erall mana8erntnt and control of the Charfty and meet at least slx tlmes a year. Pa8e16
ABBERTON RURAL TRAINING TrusrEES' REPORT {CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 The Ch•rlt(s Chlef Executlve Offlcer Is responslble for -ordInaTrI the work of the 8oard of Trustees and ony s¥b-comrnlttèesa$ may be requlred, prep•raYon of papersand m•nagement accounlsandlhe revlew of rnatters •rlilni. The Trustees deterrnlne the 8enefil pollty of th• Charlty. The day to day runnln8 of the Charfty Is deleiated to the Chief Exe¢utEve Officer. All truste¢5 Wve thelr Urne freèly. The trustees iecefve no r•muntrntlon. No trustee expenses were p•ld In thls veir. Th• Tru$tees' report w•s approved by the aoard ofTrustees. Trust•e Djted: Page | 7
ABBERTON RURAL TRAINING STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 TheTrustees Ire fesponslble for prparfne the Trustees, Reportand the ffnanctal 5tstements In accordante wlth •ppllcèble law and Un51ed Kinadom Ac¢ountln8 Sland•rds Iunlted Klnldom GererJlly Accepted A¢untIn0 Pr•ctlc•l. The l•w appllcable to ch4rltlts Sn eniland and Wales rtquires the Trustees to prepare fininclal statements for ejch flnancljl year which 8Sve a true Ind falr vlew of the state of •ff•lrs of the d)•rfty and of the Incomln8 resources and appllcation of resources of the charlty for that year. In pr•pirlni thtsé finintlll st•tements, the Trusteu •re rniulred to.. Select 5Ultable accountlni pollcles and then apply them conslst•ntly Observe the method5 and prln¢lples In the Ch•rltle5 SORP Makeludiements and estlrnote5 that are reasonable ènd prudent Slate whether appllcable accountln8 stsndards h•ve been followed. subject to any rnaterlal dep•rtures dlsclosed Jnd explalned sn the fln•ntlal st•ttment$. and Prepare the fln•nclal statements on the conrArn basls unle5$ Is Inappfoprl•te to presumt th•t the tharltywlll conllnue In operntlon. The Trustees •r• responslble lor k¢¢plng sufflclent accountlng records that d15close wlth r•isonable •¢cur•cy It ny tlrne the flnanclal potIon ol th* charlty aftd enable thern to tnsure that the flnancl41 statements cornply wlth the Charltl•s Act 2011. the Charfty (Accounts and Reports) Re4ulatlon$ 2QJ8 and the prov5slons of thé trust deed. They are also responslble for sifeguirdlng the •Mets tsl the tharlty •nd hence for t•klry fe•son•ble steps for the preventlon and delectlon olfraud and other Irrelularftles. Pa8el8
INDEPENDENT EXAMINEWS REPORT TO THE TRUSTEES OF ABBERTON RURAL TRAINING FOR THE YEAR ENDED 31 MARCH 2024 I report to the Trustees on my ex•miMtlon olthe fmncL•l statsrnents of Abberton Rural Tralnin8 (the tharltyl for the year ended 31 Mah 1024. Responglbultles •nd basls olreptyt As th•Trustee5 of th• charlty. you are responsiblefor the pr¢paratlon )f th•flnd•l stat•m•nts In a¢corddnce with the requirement5 of Chailtles A¢1 2011 Ithe ZOII Act). I report resp•ct of my •xamln#ti¢)n of th dri5 fin•Ni•l st•twnents uryled under sertlon 145 of th• 2011 Act. In carrylw oyi my exarnlnatityi I have foll¢ywed all the appllcable Dlrectlons gen by the Charlty Commlssfjon under se¢iion 145lSllbl of thè 2011 A¢t. Ind•p•nd•nt•xmlhrfs Your •ttentlon Is drown t¢ tht lart thit the th•rity his prepared flrffjnci•l statements In •ccord•n¢e wSth Accountlng and Reportlng by char"e5 prep•rkng their %counts in accordance wlth the Flnanclal Reportln8 Standard applicable In the UK and Aepublic ol Ireland IFRS 1021 in prefer•Ke to the untIng and Reportin¢ by Ch•rlt]es'. 5t•temeni of Recommended Pr•rtl¢e Ied ON l Aprll 2005 IJ rèferred to In the extjnt rgulatJofis but has now been wtthdrawn. l under5tsnd that th has been done In order for ftnand41 ststetrnnts to piovlde a true and falr vlew In accordance wlth Generalty Accepted kcountln8 Prartlce eflertlve for reportlnR perloés beglnnln8 on or after I January 2015. I have completed my examln¥tlon. I confirm that no m•tters hwe come to my attentlon In cornectlon with tht •x•min•tion me uuse to btlle thit in materi•l r¢spe¢t: attourttlng records were not ke¢ In resprt of the tharoty as requlred by 5edlon 130 of thè 2011 Act,. 2. the ffiThanclal statements do not accord wth those record5; or 3. the flnan¢lal siatements do not comp1 With the appliCae Tequlrernents ttsN¢ernlAR the form and content ol accounts set In the Ch•rR5 lA¢Unts and Repo) Requllon5 2Crf)8 other than any requlremeTht that the attOUnU &e a tru• ¥nd f• v6ew which 15 not a matter consldered as pirt Of afi Independent eMamin•tknn. I have no concEms and have tome across no other matters in connettlon wSth the examination to which attentlon should bo drawn In thls report In ordw to enable a proper understandsw of the financlal statements to be feached. er FMMAT Donnln8ton Road LorKlon NWIO 3TJ Dated.. 147P¢ tyfoptK XO3 Pag 19
ABBERTON RURAL ThAINING STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 iknfvthkt•d Yr Unr•i¢i•d R•rtvl¢t•d Y•41 •nd•d Fundi JI Mr 2024 Fund Fundi JI Mr 102J Oonatlons and LegK6es IL347 ILJ47 18,982 18.982 Ch•rltableActr(1es 239.843 334,410 574.253 322,743 556,137 878.880 2,745 2.785 7CO Total Income js40 J4U25 S157 194,562 Exp•ndlttw• on.. Fundr•lsln¢Act1ÉS JA716 3.016 Ch•rIt4e Attr IK1$ •118alrfj •nd rco8n15ed In the perd. I Incomegnd exFendftuTe dereoM conlinnI4ttlIes. Page | 10
ABBERTON RURAL TRAINING 8ALANCE 5HEEr AS AT 31 MARCH 2024 Notw It B•l•n¢ •t JI M•r 2024 31 Mar 2024 B•l•nrns •1 B•l•n¢w •t JI M•r 2023 31 M•r 2021 FIMd Ass•ts Tanqlble Assets Curr•nt Debtors 1$ C•$h it bonk and In hand 122.384 214.966 128,244 214,966 Cr•dltors: •rnountJ hlll du• wtthln on• y••r 119A201 114,7991 N•t ¢urr•nt ••vts 108.424 2.167 Tot•1 •si•ts of th• ¢h•rltv 113.924 205.667 Iorn• fvndj Restflcted funds 109,210 Unre$trfcted fijnds 113.924 %,457 20S.667 113.924 The ftnèn¢l•l Jt4ternentswere approv•d by th•Trustees on Ann• Brown Ch•lr of Trusi••A Pa8e | 11
ABBERTON RURAL TRAINING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charlty Inforni••n Abberton Rural Trolnlng15 a Chiritabl• Incorporated Ory•nls•tlon. Incorporated In En8lard & Wales. £¢¢yJntln¢ polSd•s 1.1 A¢¢ountlni ¢onv•nl The fln•nd•l ststernenls hjve been prepred ITh •ttord•nce the ch•rlty'S Constftut(on, the Ch•rltles Art 2011 and 'AccountlnB •nd A•F¢)rtln¢ by Charrtls.' Statement of Recommended Proctlce appllcable to charltle5 preparlng thelr accounts In accordance wlth the Flnlnctal Rtpartlni siandafd applluble In the UK and RepublSc of Irelind IFRS 1021" 13$ •mended for •ccountlni perlods commeficlnl from l January 20161. The ch•rlty Is • Publlc 8enefft Entity as defined by FAS 102. The chirfty has takèn •dv•nta8• of the prthilslons In the SCP for ch•rltle5 apptyln¥ FRS 102 Upd•t• 8ullétln I not to prep•Tt • Slatement C•sh Flows. The flnjnclèl st•ternents hove departed from the Ch•rltles IAttounts and Reports) Re¥u1atlons 2CQ8 only to the èxtent requlred to pr¢)vldt a true and ljlr ¥lew. Thls departure h•s Invoed followlni the Statement of RecommeDded Practlce for chirlll•s applylni FRS 102 r•th•f th•n the verslon of the Statem•nt of R•commended Prartlce, whlch Is rèferr•d to In th• R•gulatlons. birt whlch h•s slnce been wl¢hdrJwn. The flnanclal statements are prepar•d In sterlln& whkh li the funclkTrnal currency of thè ch•rlty. The financlal statements hive been preplred undtr the hlstorfc•l cost conventlon. The prlnclpal K¢ountyng pollcles ?dopted are set out below. 12 GOI ¢on¢•rn At the tlme ol approvln8 the flnaThcl•l st•i•ments, the Trustees hjve • reasgnable expe¢tatlon th•t the charlty h•$ adequ•te re$ources to cont5nue In operatlon•l exlstence for the tore5eeable fvture. Thus, the Trustees ¢ontlnue to adopt the golng conc•rn bKls of •ccountln8 In preparln8 the fln•nd•l staternents. l.J tharltsbl• fun Unrestrtrted funds rnPS er•nts and don•tlons. contr•rt Incom and other Income recelv•ble or 8enerJted for the objects of the charltywlthout further spedfied purpose. Unre5tr1cted funds whlch •re nol utlllsed durlng th• y¢•r are carried forw•rd Is i•n•r•l fvnds. S58ned fvnds art unr•strlrtgJ fvnd5 arm•rktd bythe trustees for p•rtl¢ubar purpose5. Restrlcted funds are $ublert to spedfle eonditlons by donors as to how they m•y be used. The purpos •nd uses of the re5trlcted lunth are set out Sn the notes to the finanall Statements. Page | 12
ABBERTON RURAL TRAINING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 £COtIn1 Wldes IContknu•d) IA In¢om• Income Is reeoinlsed when tht charlty Is lelally entltled to It •fter any performan condlllons have been rnet, the amounts can be me•sured rellably. and It Is probjble that Incorne wlll be recelved. Cash donat5ons aré r•coinls•d en r•c•lpt. Othtrdonatlons are rewnlsed oncelhe ch4rfty hasbeen notlfled of the donjtlon, unle55 performance condltlons requlre delrral of thè imount. 1.5 W•ndltur• Expendlture Is accounted for on In •cuual ba515. All Incorne Ind expendlfvre Is allocated to a partl¢ul•r Ict5vlty where it rèlates directty to that actfvlty, Support fvrsctlon$1SThcludlnB flThance, humon réstsurcs. fac115tles m•n•8emenl Ind 8overn•ncel are •pportlontd •cross the actlvltles that the funcrions SUPPOrt, Overhead costs Ilrclvdln8 offlce runnlni ttjsts and tonsurnables. InformatSon technolo8y, Insurances •fid jfflllatlon fees) are mlarlY Jpportloned. To the extent that acuvftyrftlated fundln8 agreernents allow, support costs are 4pportloned to art1101$ b•sod on the full.tlmt wulv•lent number of staff ernployed wlthln that •ctIVY. Bisle fin4nclal Instruments •re Inltlally rcol$ed at tr•nuctkJn ¥•lue •nd subsequentty rn•isurtd at 4mortlsed cost. Ilnonclal assèts comprlse c•sh It bank •nd In hand. toletherwlth trade and other debtors. A speclfic w)v5slon 1$ m•de lor debts tor whlth recovtr•bllrty Is In doubi. C•sh •t b•nk Ind In hand Ss deflned as all cash held In Instsnt access bank accounts •nd as worklng capltJl. Flninclal Il•bllltl$ held it •mortlsed cost Cornpflse all cr•dltors •xcepi soc1 sectsrlty and other taxes, deferred Inrne and prg¥1slons. 1.6 &ThplJy•• ts•n•ffts The cost of any unu5d hollday entltl¢ment Is r¢o8nised In the peilod In whlth the employee's servl¢es ore recelved. Terminatlon beneflts are reco8Dlsed Immedlatety as an expense when tbe cbarlty Is demonstrably commltted to termlnate Ihe ernploymént of •n employee or to provlde tmilnatn ber+efits. Crfll¢•l •¢¢ountlni •5thn•t•s •NI lm•nts In the oppli¢atlon of the charltws accountin8 polides. the Trustees are requlred to make ludgements, estlmates and 4ssumption5 about the carrylne amount of assets and liabllitfjes that are not readlly apparent from other sourcès. The estimates and assoclated assumptions are based on hIstorl1 e¥perléntè and oth•r f•ctors th•t jre consld¢red to be rdtvant. Actual results may dlffer from thest smI$. Page113
A88ERTON RURAL TRAINING NOTES TO THE FINANCIAL sfATEMÉNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The est5malu and undeflyln8 assumptlons are revlewed on an on8oln8 ba515. Rtvlslons to •ttountlno estlm•tes re recognlsed In the period In whl¢h the estlmate is revlsed where the re$(Oll affects only th•t perlod, or In the perlod of the revlslon and future perl¢)ds where the revlsion affects both current ind fvture perlod5. Don•iioM •nd l•y¢ Unrestrkted Funds R•strlcted Funds Tot•ls •t 31 M•r 2024 Unresirlcted Ftsnds Restrlcted Funds Tot•l$ it 31 Mar 2023 Donatlons ond L•8ècles 11.347 11.347 18.982 18,982 11.347 11,347 18.982 th•rlt•bl• •rt14rft Unrestrfrted Funds Restrlct•d Funds Totsls ai YI M•1 2024 Unreslrkted Funds Rostr5dtd Funds Totsls It 31 M•r 2023 Serv5c*s provld•d under contr•¢t 239,843 334,410 574,253 322,743 556,137 878, 574,253 322.743 556,137 878,8 Inv•slTh•nts Unrestrkted Funds R•stricted Funds Totsls •t 31 Mar 2024 Unrtstrlcted Funds Restrlrted Funds Totals at 31 Mar 2023 Inve5trnènl$ Interests recelv•bl• 1785 2.785 71X) 2.785 2.785 Page | 14
ABBERTON RURAL TrAINING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 th•ritsbi• •¢tlvttf•5 Totsls at 31 Mar 2024 Totals at 31 Mar 2023 St•ff Costs Edutatlon and tralnlni Rent and venue hlre Repa5r5 •nd malntenance Prlntln& post•ge and st•tlon Telephony and Intemet Travel and subslstenc• Qfflce exp•ns•s Profes51onal fees Insuranc* Mernbershlps Bank chJf8es Sh4re of 8ovefn•nc• costs other expens•s 4Q5,389 137,413 15,051 6.015 2.851 9.272 23.434 30,526 25,375 9,931 376 1811 192,144 261.982 57.301 37.247 6.031 1,912 91,567 4.244 2.353 9,685 216 6,113 I¢N,536 11,%2 677,112 77S,332 The Virlablès bètween the years ended 31 Mar 2023 and 31 Mar 2024's totals •r• due to the Investment In new ottountlnq systern whlch cèn alloc•te Costs morè tfflclently. •llowlni for rn?re cl•rlficatlon to Oth•r Expenses and • d•ep•r •n•lysls of cost •llo¢•llon. Fundr•lslw Artl¥lts•s Ttstlls It 31 M•r 2024 Totals at 31 M•r 2023 Fundralslng support 3,016 3.016 Page | 15
ABBERTON RURAL TRAINING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 An•tysls by Funds Tot•l$ at 31 Mar 2024 Totals at 31 Mjr 2023 Unrestrlcted Funds Rstrltted Funds 214,S79 465,9 328.404 446.927 6.128 775 331 Syppart Corts Support Governanct Costs Costs Totals at 31 Mar 2024 Support Governin Costs Costs Totals at 31 Mar 2023 A¢¢ountancv Fundr•lslni I,W7 6,113 3P16 3.016 3,016 3.016 l.WJ7 6,113 An•lysed behveen.. Ch4rltable Actlvltles Fundr41sln8 Actlvltles l.U)7 6.113 3,016 3.016 3,016 3,016 I,? Govem•n¢e costs Indud• lees p•yJble to the Independenl ex•mlners of £NII lat 31 Maf 2023- £4,306). IIX TruJt•• No p•yments or remuneration from the thorfty was pald toTrustees lor any persons connected wlth thtml durfn8 ihe year. Page | 16
ABBERTON RURAL TRAINING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11. Ernpl Numb•r ol Employtts The average rnonthty nurnber of ernpltyees durln8 tht p•rlod was: At 31 Mar 2024 At 31 Mar 2023 Aver•8e number of employtts 19 19 employm•ni Cts At 31 Mar 2024 At 31 Mar 2023 Stjff Salarles Educ•tlon S•l•rles 405.389 137.413 192,144 227,319 s42,2 419.463 12. FIn•n¢ Instrum•nts At 31 M•r 2024 At 31 M•r 2023 C•rrylry4rnount ol •$$ Deblt Instrumenis rneasured at amortlsed cost C•rrytni •mountof Ilnand41 Il•bSlltl•s Me•$ured at arnortlsed co$t 19.820 14,799 19.820 14.799 13. D•btors At 31 Mar 2024 At 31 Mor 2023 Trade Debtors oiher D•btor$ Pa8e | 17
ABBERTON RURAL TRAINING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 l& Cr•dltors: •rnounts t•1$ du• wEthln on• y••r. Al 31 Mar 2024 At 31 Maf 2023 Credltors 19.820 14.799 19,820 14.799 15. An•tysls ol N•1 Ajwts B•tw••n Funth Unreslrlrted Fund% Restrlct•d Funds Totals •t 31 M•r 2Q24 Vnr•strlrted Funds Restflcted Funds Totals 4t YI Mar 2023 T•nqlblè Assets 5.5CL) Net Curr•nt Ass•ts 108,424 108A24 9J.957 109,210 2,167 113,924 113.924 ,457 109,210 205,667 l& An415 of m0m•t D•lw••n Fufids At l Apr 2024 Inc47me Expendltur* Tr•nsferi Total$ It 31 Mar 2024 Unrestrlcted Funth 57 253.975 1214,5791 121.9291 113,924 Itestrfcted Funds 109.210 334.410 1465.5491 21.929 205,667 588.385 ,128 113.924 Page | 18