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||||Page|
|---|---|---|---|
|Reference and administrative||details ofthe charity, its Trustees and advisers||
|Trustees' report|||2-12|
|Independent
auditors'|report|on the financial statements|13 - 16|
|Statement offinancial|activities||17|
|Balance sheet|||18-19|
|Statement ofcash flows|||20|
|Notes to the financial|statements||21-43|
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2021
f|2021
6|2021
6|2020
5|
|Income from:|||||||
|Donations
and legacies||4||100,000|100,000||
|Charitable
activities||5|4,366,766||4,366,766|7,554,883|
|Investments||6|27,930||27,930|32,189|
|Other income||7|311,406||311,406|20,387|
|Total income|||4,706,102|100,000|4,806,102|7,717,459|
|Expenditure
on:|||||||
|Charitable
activities||8|3,987,612|76,348|4,063,960|7,435,856|
|Total expenditure|||3,987,612|76,34&|4,063,960|7,435,855|
|Net movement
in|funds before other||||||
|recognised
gains/(losses)|||718,490|23,652|742,142|281,593|
|Other recognised|gains/(losses):||||||
|Defined benefit pension scheme|||(1,192,000)||(1,192,000)|(397,000)|
|Net movement
in|funds||(473,510)|23,652|(449,858)|(115,407)|
|Reconciliation
of|funds:||||||
|Total funds brought|forward||(1,926,275)||(1,926,275)|(1,810,858)|
|Net movement
in funds|||(473,510)|23,652|(449,858)|(115,407)|
|Total funds carried forward|||(2,399,785)|23,652|(2,376,133)|(1,925,275)|
##
||||||||2021||2020|
|---|---|---|---|---|---|---|---|---|---|
||||||Note||6||6|
|Fixed assets||||||||||
|Tangible assets|||||13||454,380||485,537|
|Investment
property|||||14||350,000||350,000|
||||||||804,380||835,537|
|Current assets||||||||||
|Debtors|||||15|473,536||1,061,581||
|Cash at bank and|in hand|||||1,060,397||964,074||
|||||||1,533,933||2,025,655||
|Creditors: amounts|falling due within one|||||||||
|year|||||16|(863,878)||(1,791,567)||
|Net current assets|||||||670,055||234,088|
|Total assets less|current liabilities||||||1,474,435||1,069,625|
|Creditors: amounts|falling due aRer more|||||||||
|than one year|||||18||(218,568)||(248,056)|
|Provisions
for liabilities|||||||||(54,844)|
|Net assets excluding||pension||liability|||1,255,867||766,725|
|Defined benefit pension||scheme||liability|25||(3,632,0001||(2,693,000)|
|Total net assets|||||||(2,376,133)||(1,926,275)|
|Charity funds||||||||||
|Unrestricted
funds||||||||||
|Unrestricted
funds|excluding||pension asset||20|1,232,215||766,725||
|Pension reserve|||||20|(3,632,000)||(2,693,000)||
|Total unrestricted|funds||||20||(2,399,785)||(1,926,275)|
|Total funds|||||||(2,376,133)||(1,926,275)|
##
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|||FOR TH|E YEAR ENDED 31 MARCH 202|1||
|---|---|---|---|---|---|
|||||2021|2020|
|||||6|5|
|Cash flows from operating||activities||||
|Net cash used
in operating|activities|||124,544|101,186|
|Cash flows from investing||activities||||
|Proceeds from the sale oftangible
fixed assets|||||(34,661)|
|Purchase of intangible assets||||(2,293)||
|Net cash used in investing||activities||(2,293)|(34,661)|
|Cash flows from financing||activities||||
|Repayments
of borrowing||||(25,928)|(22,462)|
|Net cash used in financing||activities||(25,928)|(22,462)|
|Change
in cash and cash|equivalents
in||the year|96,323|44,063|
|Cash and cash equivalents|at the beginning||ofthe year|964,074|920,011|
|Cash and cash equivalents||at the end of|the year|1,060,397|964,074|
|The notes on pages 21 to 43||form part ofthese financial statements||||
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||||||Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2021|2021|2020|
||||||5||5|
|Donations|||||100,000|100,000||
|Income from charitable|||activities|||||
|||||||Unrestricted|Total|
|||||||funds|funds|
|||||||2021f|2021
5|
|CIAG (Cumbdia||County Council)||||1,044,544|1,044,544|
|NCS 2020|(NCS Trust)|||||1,258,815|1,258,815|
|National careers||service|(ESFA)|||553,512|553,512|
|Enterprise|adviser network|||(CEC/Lance LEP)||527,220|527,220|
|The Key (ESFA)||||||639,708|839,708|
|NCS 2019|(NCS Trust)|||||121,223|121,223|
|Other contracts||(Various)||||221,744|221,744|
|Total 2021||||||4,366,766|4,366,766|
##
|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2020f|2020|
|CIAG (Cumbria||County Council)||1,175,112|1,175,112|
|NCS 2019|(NCS Trust)|||1,751,292|1,751,292|
|National
Careers||service (ESFA)||404,528|404,528|
|Enterprise|adviser network||(CEC/Lance LEP)|469,070|459,070|
|The Key (ESFA)||||1,253,798|1,253,798|
|NCS 2018|(NCS Trust)|||2,265,773|2,255,773|
|Other contracts||(various)||345,310|345,310|
|Total 2020||||7,654,883|7,664,883|
##
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##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||F|6|
|Investment|income|27,930|27,930|
|||Unrestricted|Total|
|||funds|funds|
|||2020
5|2020f|
|Investment|income|32,189|32,189|
|Other incoming resources||||
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|||6||
|Other income||311,120|311,120|
|Interest receivable||286|286|
|||311,406|311,406|
|||Unrestricted|Total|
|||funds|funds|
|||2020f|2020
9|
|Other income||15,735|15,735|
|Interest receivable||4,552|4,852|
|||20,387|20,387|
##
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##
|||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|
|||||||2021|2021|2021|
|||||||6|||
||Programme|costs and activities||||3,987,612|76,348|4,063,960|
||||||||Unrestricted|Total|
||||||||funds|funds|
||||||||2020f|2020
Z|
||Programme|costs and activities|||||7,435,866|7,435,866|
||Summary|by expenditure|type||||||
|||||||||Total|
|||||Staff costs||Depreciation|Other costs|funds|
||||||2021
6|2021
6|2021
f|2021
6|
||Programme|costs and activities||2,940,364||33,449|1,090,147|4,063,960|
|||||||||Total|
|||||Staffcosts||Depreciation|Other costs|funds|
||||||2020
f|2020
f|2020
f|2020|
||Programme|costs and activities||3,398,653||94,634|3,942,579|7,435,866|
|9.|Analysis ofexpenditure||by activities||||||
|||||Activities|||
|---|---|---|---|---|---|---|
|||||undertaken|Support|Total|
|||||directly|costs|funds|
|||||2021|2021|2021|
|||||6|F|F|
|Programme|costs|and|activities|3,467,412|596,548|4,063,960|
##
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##
|||||Activities|||
|---|---|---|---|---|---|---|
|||||undertaken|Support|Total|
|||||directly|costs|funds|
|||||2020f|2020|2020
E|
|Programme|costs|and|activities|6,796,022|639,844|7,435,856|
##
|||||Total|
|---|---|---|---|---|
||||Direct Costs|funds|
||||2021|2021|
|Net pension
interest|||63,000|63,000|
|Wages and salades|||2,848,819|2,848,819|
|Pension cost|||26,000|26,000|
|Subcontractor|costs||260,325|260,325|
|Recruitment
and staff training|||37,960|37,960|
|Travel and motor expenses|||20,201|20,201|
|Vehicle leasing|charges||3,128|3,128|
|Advertising,
conventions||and shows|28,634|28,634|
|Bank charges|||1,564|1,564|
|Property costs|||175,389|175,389|
|Meeting
room|hire and|refreshments|2,392|2,392|
||||3,467,412|3,467,412|
##
##
##
##
##
|Analysis ofdirect cos|ts (continued)|||
|---|---|---|---|
||||Total|
|||Direct Costs|funds|
|||2020|2020|
|Net pension
interest||55,000|55,000|
|Wages and salaries||3,305,212|3,305,212|
|Corporation
tax charge||(5,215)|(5,215)|
|Pension cost||28,000|28,000|
|Subcontractor
costs||2,448,281|2,448,281|
|Recruitment
and staff training||67,489|67,489|
|Travel and motor expenses||694,331|694,331|
|Vehicle leasing charges||2,074|2,074|
|Advertising,
conventions|and shows|23,055|23,055|
|Bank charges||3,441|3,441|
|Property Costs||166,550|166,550|
|Meeting
room hire and|refreshments|7,804|7,804|
|||6,796,022|6,796,022|
|Analysis ofsupport costs||||
|||Support|Total|
|||Costs|funds|
|||2021|2021|
|Wages and salaries||91,545|91,545|
|Depreciation||33,449|33,449|
|Office expenses||218,893|218,893|
|Interest payable||7,785|7,785|
|Audit and accountancy|fees|9,600|9,600|
|Legal fees||33,108|33,108|
|Trade subscriptions||11,112|11,112|
|Sundry expenses||135,747|135,747|
|Irrecoverable
VAT||55,309|55,309|
|||596,548|596,548|
##
##
##
##
##
|Analysis ofexpenditure
by activities (continued)
Analysis ofsupport costs (continued)|||
|---|---|---|
||Support|Total|
||Costs|funds|
||2020f|2020f|
|Wages and salaries|93,441|93,441|
|Depreciation|94,634|94,634|
|Office expenses|225,249|225,249|
|Interest payable|8,900|8,900|
|Audit and accountancy fees|9,325|9,325|
|Legal fees|21,903|21,903|
|Trade subscriptions|10,826|10,826|
|Sundry expenses|105,929|105,929|
|Irrecoverable
VAT|69,637|69,637|
||639,844|639,844|
##
|||||||2021f|2020f|
|---|---|---|---|---|---|---|---|
|Fees payable to the|charity's|auditor||for the audit ofthe charity's|annual|||
|accounts||||||7,000|6,690|
|Fees payable to the|charity's|auditor||in respect of:||||
|All non-audit
services not included|||above|||1,980|2,560|
|Staffcosts||||||||
|||||||2021f|2020f|
|Wages and salaries||||||2,582,531|2,844,545|
|Social security costs||||||219,667|235,575|
|Contribution
to pension schemes||||||302,166|318,533|
|Gain on settlement|of Defined|Benefit Pension Scheme||||(164,000)||
|||||||2,940,364|3,398,653|
##
##
##
##
||||||||2021|2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||||No.|No.|
|Employees||||||||110|139|
|The number|of employees|whose|employee|benefits|(excluding|employer|pension|costs)|exceeded|
|f60,000was:||||||||||
|2021|2020|
|---|---|
|No.|No.|
##
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##
##
|||Long-term||||
|---|---|---|---|---|---|
|||leasehold||||
|||property||||
||Freehold|improvemen|Fixtures and|Computer||
||property
f|ts
6|fittings|equipment|Total
6|
|Cost or valuation||||||
|At 1 April 2020|473,951|213,767|75,141|695,097|1,457,956|
|Additions||||2,293|2,293|
|Disposals||||(383,456)|(383,456)|
|At 31 March 2021|473,951|213,767|75,141|313,934|1,076,793|
|Depreciation||||||
|At 1 April 2020|55,465|180,662|75,141|661,151|972,419|
|Charge for the year|10,583|5,758||17,108|33,449|
|On disposals||||(383,455)|(383,455)|
|At 31 March 2021|66,048|186,420|75,141|294,804|622,413|
|Net book value||||||
|At 31 March 2021|407,903|27,347||19,130|454,380|
|At 31March 2020|418,485|33,105||33,945|485,537|
##
##
##
##
||Freehold|
|---|---|
||investment|
||propertyf|
|Valuation||
|At 1 April 2020|350,000|
|At 31 March 2021|350,000|
##
|||2021
6|2020f|
|---|---|---|---|
|Due within one year||||
|Trade debtors||117,493|722,666|
|Other debtors||333,277|312,298|
|Prepayments|and accrued income|22,766|26,617|
|||473,536|1,061,581|
##
##
##
||||2021|2020|
|---|---|---|---|---|
||||6||
|Bank loans|||25,929|23,348|
|Trade creditors|||53,063|70,091|
|Other taxation|and social security||107,526|119,451|
|Other creditors|||26,111|27,416|
|Accruals and deferred||income|651,249|1,551,251|
||||863,878|1,791,557|
##
||||2021|2020|
|---|---|---|---|---|
|||||5|
|Amounts|due between
1 and 5 years|||54,844|
||||2021|2020|
||||F|5|
|Deferred|income at 1 April 2020||1,315,593|147,884|
|Resources deferred
during the year|||480,011|1,315,593|
|Amounts|released from previous|pediods|(1,315,593)|(147,884)|
|Deferred|income at 31 March 2021||480,011|1,315,593|
##
##
##
|||2021|2020|
|---|---|---|---|
|||F||
|Bank loans||218,568|248,055|
|Included
within the above are amounts|falling due as follows:|||
|||2021|2020|
|||6|5|
|Between one and two years||||
|Bank loans||53,942|54,301|
|Between two and five years||||
|Bank loans||87,914|84,981|
|Over five years||||
|Bank loans||76,712|108,774|
##
||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||5|
|Potential|irrecoverable|VAT|in|respect|of|partial|exemption|case||54,844|
##
##
##
##
|Statement offunds - curr|ent year|||||
|---|---|---|---|---|---|
||||||Balance at|
||Balance at 1|||Gains/|31 March|
||April 2020f|Income
f|Expenditure
F|(Losses)
f|2021
f|
|Unrestricted
funds||||||
|General funds|766,725|4,528,102|(4,062,612)||1,232,215|
|Pension reserve|(2,693,000)|178,000|75,000|(1,192,000)|(3,632,000)|
||(1,926,275)|4,706,102|(3,987,612)|(1,192,000)|(2,399,785)|
|Restricted funds||||||
|Barclays 100x100||100,000|(76,348)||23,652|
|Total offunds|(1,926,275)|4,806,102|(4,063,960)|(1,192,000)|(2,376,133)|
##
|||||||Balance at|
|---|---|---|---|---|---|---|
|||Balance at|||Gainst|31March|
|||1April 2019f|Income
f|Expenditure|(Losses)f|2020f|
|Unrestricted|funds||||||
|General funds||561,132|7,558,459|(7,352,866)||765,725|
|Pension reserve||(2,372,000)|159,000|(83,000)|(397,000)|(2,693,000)|
|||(1,810,868)|7,717,459|(7,435,866)|(397,000)|(1,926,275)|
##
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##
##
##
|Analysis|ofn|et assets||between funds - current year||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||2021|2021|2021|
||||||F|6|6|
|Tangible fixed||assets|||454,380||454,380|
|Investment|property||||350,000||350,000|
|Current assets|||||1,510,281|23,652|1,533,933|
|Creditors|due within one|||year|(863,878)||(863,878)|
|Creditors|due|in more than one year|||(218,568)||(218,568)|
|Provisions|for|liabilities|and charges||(3,632,000)||(3,632,000)|
|Total|||||(2,399,785)|23,652|(2,376,133)|
|Analysis|ofnet assets|||between funds - prior year||||
|||||||Restated||
|||||||unrestricted|Total|
|||||||funds|funds|
|||||||2020|2020|
|||||||5|5|
|Tangible fixed||assets||||485,537|485,537|
|Investment|property|||||350,000|350,000|
|Current assets||||||2,025,655|2,025,555|
|Creditors|due within one|||year||(1,791,567)|(1,791,567)|
|Creditors|due|in more than one year||||(248,056)|(248,055)|
|Provisions|for|liabilities|and charges|||(2,747,844)|(2,747,844)|
|Total||||||(1,926,275)|(1,926,275)|
##
##
##
|||||2021f|2020|
|---|---|---|---|---|---|
|Net income for the|year (as per Statement||ofFinancial Activities)|?42,142|281,593|
|Adjustments
for:||||||
|Depreciation
charges||||33,449|94,634|
|Defined benefit pension scheme||costs||(231,000)|(76,000)|
|Movement
in tax|||||(6,760)|
|(Increase)/Decrease|in debtors|||588,045|(155,230)|
|Increase/(Decrease)|in creditors|||(953,248)|64,105|
|Provision for Irrecoverable
VAT||||(54,844)|(101,156)|
|Net cash provided|by operating|activities||124,544|101,185|
##
##
##
|Principal
actuarial assumptions
at the Balance sheet date (expres|sed as weighted
averages)|:|
|---|---|---|
||At 31 March|At31March|
||2021|2020|
|||90|
|Discount rate|2.2|2.4|
|Future salary increases|1|0.1|
|Future pension increases|2.5|1.6|
||At 31 March|At 31March|
||2021|2020|
||Years|Years|
|Mortality rates (in years)|||
|-for a male aged 65 now|20.1|20|
|-at 65for a male aged 45 now|21|21.1|
|-for a female aged 65 now|22.9|22.8|
|-at 65for a female aged 45 now|24.5|24.4|
|The charity's share ofthe assets in the scheme was:|||
||At 31 March|At31March|
||2021
f|2020
f|
|Equities|22,134,960|18,613,440|
|Debt instruments|3,689,160|4,046,400|
|Property|2,152,010|1,888,320|
|Cash and other liquid assets|2,766,870|2,427,840|
|Total fair value ofassets|30,743,000|26,978,000|
##
##
##
##
##
|The amounts
rec|ognised
in the Statement|off|inancial
acti|vities|are as follows:|||
|---|---|---|---|---|---|---|---|
|||||||2021f|2020f|
|Current service cost||||||(26,000)|(28,000)|
|Interest income||||||641,000|706,000|
|Interest cost||||||(704,000)|(751,000)|
|Benefit changes,|gain/(loss)
on curtailment|and gain/(loss)||on settlement||175,000||
|Total amount recognised
in the Statement offinancial||||activities||86,000|(83,000)|
|Movements
in the present value ofthe defined|||benefit obligation||were as follows:|||
||||||||2021f|
|Opening
defined|benefit obligation||||||29,669,000|
|Interest cost|||||||704,000|
|Contributions
by|scheme participants||||||10,000|
|Benefits paid|||||||(667,000)|
|Current service cost|||||||26,000|
|Actuarial
gains|||||||6,490,000|
|Liabilities extinguished
on settlements|||||||(1,857,000)|
|Closing defined|benefit obligation||||||34,375,000|
|Movements
in the fair value ofthe charity's||share ofscheme assets were as follows:||||||
||||||||2021f|
|Opening
fair value ofscheme assets|||||||26,976,000|
|Expected return|on assets||||||641,000|
|Assets distdibuted|on settlements||||||(1,693,000)|
|Contributions
by|scheme participants||||||10,000|
|Employer contributions|||||||178,000|
|Benefits paid|||||||(667,000)|
|Actuarial
gains|||||||5,298,000|
|Closing fair value ofscheme assets|||||||30,743,000|
##
##
##
||||2021|2020|
|---|---|---|---|---|
||||6||
|Not later than||1 year||59,650|
|Later than|1 year and not later than 5years|||21,333|
|||||80,983|
|2021|2020|
|---|---|
|6|5|
||52,000|
##
##