Regl¥t•r•d numb•r: 11813984 Ch¥ity numbfjr. 1188035 Forward2Employment (A Company Limlted by 13uarantee Unaudited Trustees. Report and Financial Statements Forthe Year Ended 31 July 2024
IACompary ty Gu*•nt••) Cont•nts R•lw•nN and Admlnlsirailvo D•thMs of tho Company. Its Tru•ts•s and Advkn•K¥ Trust••$' R•port Ind•pond•nt Examlnorfs Roport Statemfrnt of Financiol Actlvlthg Shoot Notss to th• Flnandal Slat•m•m• 10-22
(A Compjny LIM by Guarant•el Rf•ron and Administratlvo D•talkn ol thfr Compfjny. its Trusts0• *ind Ad¥lso For th• Y•ar End•d 31 July 2024 Th10•• E A Hotton, A GIWett R J Hdton K BiiBory Company r•glst•rod numb•r 11813984 Chorlty r•gistsr•d fiuMr 1188035 R•gi•t•rod offlo• Urlt E3 KvthJht• P Krfghts Road ME2 2LS Xgiiodin Scth EA8t Umknl 12 Cwu8ror Court PJlttirvJbwn Kent ME10 58H Page 1
ForTrd2Émploym•nt IA C¢)mpwy Umlt•d by Guarnnt••) For th• Y•or End•d 31 July 2024 Th• Tru8tO6S W•senl th8lr nOI roporl knpther wtlh the Ilnandal 8¢at•ment8 01 thr Compary fr>r th8 w 1 Augu•t 2023 to 31 July2024. The Annual Rewrt SOTveB Ihg pwpo608 of both & Tru8tea8' report fjnd 8 directors. rert under ¢cPaThY low. The Tru8la4 ccrfffi Ihot the AnNJd Report and finan¢4018lalem•nl8 of Ihg chart18 c{Y L¥xnply vAth thè curront statutsy requnts. th• roqulrem•nts of th• chrfiab c4)mw g(Nemino (kjcument ond th• IGlon8 of tha Slatèmgnt of Rarrnnd Praclko (SORPI applKgble to charftles prylng thelr aCcots kn accordance 7Ath tho Finorthl Reportkng Standord wlicablo In the UK and Repthlc of lrnland (FRS102) (8ffgrltve 1 January 2019). Slnc8 th& Compony qualits8 88 8mall undw 81(aion 382 01 th8 ethnp08 Act 2008. Ilw Strat¥c Repmyt r•qulr&l ol m&llum ond larya eompwth undw tho Compan188 Aet 2006 (Strat¢ Report and Dlre(Aors' Roport) RellulatKTh 2013 has b86n omEtted. ObJ•eUv•• and 8Clivili Poli¢lD8 and obkn•8 In 8elUrvJ obJ8ctl¥e• and fty adlvFtI88, the Iwvo tyon thje olId0lIon tD genwgl guldan¢o prtlkshod by tho Charfty Commisslon relallng to pubfjo bengfft. Indudlng thè gUkIar.PUbllc baMIII: runnlw a ohqrffy (PB2Y. The chArfty 18 estab116hed for tho AdvAne4mèrl of thé ètknAllon ot por8on8 uThJer Iha aga of 26 ywr8 vAth Spwjgl Edursdonal No•d6, by provldlrKJ 4nd ossIBtiw in the wovlsh)n of faialilles and serv1$ to meot Iholr edu¢tiOn, deva10pmtOl and s¢d81 w•ifar• n8od8 in ordar that tlw can athlth tr lull polonlw and the b. 8tsutsglps for achlDvlng objecilY•• Wmo tsom Appr to ral8lng a8plratk#)6 by anewrwrffj knt•ms to b8lm In and Iheir achlavemènt8. thom Ille 6kills a8 a grP l.& trml tfalnlng, ]ng. bJdplng 8klll8 and al80 adapth curJJM to mèet thè n8od8 01 the cppc•to Improv&gdn kn thiklll4 mo1tr• and Enu116h In ord•r lo be wA>r• In tho lalx)ur mtht T8achlrvJ gmploydbluty •kll8 8h as Ikng kwplng. tatrn nrk, wthl•m •oMro atc. 068 to C8reor8 advi< arwj guklanca. Ful raThJ8 ol pgr8onal developnnt and 8Nlchment actiwties T8kin9 advantapoffunthng 8rn1 gr4nts to Sup)rt in th• 4bw• •clvlllo& IMllo• und•riaknn to ach1• obJ•tho1 Thps as a gro indmduwl routo trahlNJ wlh do(¥08S#VJ 6UPPOTL Supwtwith maklng L%xtorlDantal appolntrn•nts. pwl with openlrvj a bar a)Unt whore apprOats. Support k> alow Intem8 to flrwj a sullable charlty to 81vrth snd than 8UPPOrt to al fuTrJrnlBlng lor Ihat Support and OnmOnt tp get InK4ved In o)mmunltysorvk06 and facllltlo$ 6uth 8$1olsw• c•ntr•$ A¢6$ to 110 1 CrnB ad¥lea rn néxl 8tw. aMl•tlng *llh InteNkn. lob appllcatkY•. job40J BuOJ•llng aclmttas around shopplw forfood Advh>• wldonco 8t1 bermfts avallabl8 lo kntemB Pag• 2
(A Company Llmlt•d ty Guar•nt••) T0. Repor¢ (¢ontinuod) Forlh Year Endvd 31 Juty 2024 Obioctlvo• lind aciNltl•$ {¢onllnu•d) d. Main aGtlvldb# und•rtak•n to fi#th•r th• Comparfs for th• publlc b?Mfft Attendlng •v•nts, ShaAn9 of Inlomiatlon lo bu8in06S P8rtnèrB via Sodol Medta. Sharfng lrfomiallon 1th •dY>(4s tlwh caroer8 networ MBmb8rshlp of NaIsp BASE And Kéni Chamb•r ofcornff Eslablishlng now bu8lng88 partners k>cal rxyrniunity Mombernhlp of Local SuppDrted Enylowmnt Steethe wp M8mbgr6hlp of Mtyjway Charnplcffis Group Mothvay EratIon Ptherup Group Aehl•v•m•nt8 p•rfornwnc• •. Maln achl•v•mwth of lh• Company Due lo contlnued wowth new womitsos vMe n8eAléd to a(xxnto bcth IIWJ In880 kn numbor of Inlerr and 8160 thg crnpondlTrJ Increase kn Jt)b coad8. Sullabl8 rnml8es hova arKI th• pro$1 h88 rolocatsd. IT conlir¢u8s to bo an I&Bue Ixrt It [8 hopod that thls wlll b8 r8#oivod som. 23 inl8m6 8uee888fuMy ¢oiryAelod thalr kntomshlp ywr end a further 4 ¢xmplet•d a pre4ntsmBhl) 3 oltho89 wlll bo contlNlng t¢) a lull Int[p Ih18 >tgr. W• rec¢lved 81 relerrnlL4 for &pl8mbw 2024 and haw offered 43 p14ca8. At ts tkn ofvffrlFTWJ 7 Intsm$ had lound full tlmo emV¢)>ment. 7 were golw on to fvrther tralnlno, 2 wern voluntowing aTrJ 3 Sdll lob seeklng. Wg conllnuo ow pthr6Np vAlh Pr4ect Soorth al Amazon ond havo eacured a •9¢X)J sbt• at Dargnt valley Flwital. We havo In¢x••1 tho numbw of McDond(kn fr8nthl8es that we wknorfng vrith u$ and Jul¢8 Ex6euOvo ho al80 lolnad os a buth088. All other 1xmS rmIn SuppYO ar 0)nnu8 to have Interns. We A(Èt8veAI o(xrethlgd statu8 In our EQF auilt In January 2024 and wlll b• r¢-asSed in Othbw 2024. Wa a160 a lull lectlon 8 018ted In8p•clion Sn March 2024 and r•rnivod a G(>od rath¥. F¢llov+ing t>Jr InsFCtlon w• ha4ffj (wr currfcubjm ¢)ffer. clrwJ th• English quallficalon Io o fu([ $klls qualthOn Inste•J ol GCSE and thg personal develonI al8mgnt ond enrfthmDnt oppOnIt. W• hava Inuogsed number ol Job Coach aThJ n(Y+V also how lun thne odmin cover and • Senlor Job Cooch io over8e8 the toom. Tho Local &Jpwtad Emplownent scm (#)nllnue8 and funding kr another 15 8pace8 has tn agreed ¥thl¢h mèan6 w• can now Sup up to 30 Adults on top of tho tnton) numbers. We ran a vory wxcessful bu8lneBs oTrJogomenl ovent v part of th• Local Supported Intem8hlp $to•ring group. fknr 60 bu8ln88688 e•mg to out about Intom6Nps and thoy C4xIA benBfft Ihelr SinesSeS. TN8 OVont18 éua to rep88 In January 2025 a t1 of Ial 8chco16 and colla9 tn order to 8peak lo soung peopl• and parent8 caror8. Page 3
FoThwrd2Emplown•nt IAComp•ny Llmlt•d by Guwants•) Trust•e8' Report(¢ontlnuod) For tho Y6Ar Ended 31 July 2024 Fb)anolal rnvi•w Going ¢on¢•m After md(kng approwlato eThp#rf68, tho Tru•t•O8 hav• a m•on•blo expthtim Ihat th• Comp•ny adaw•te rasouw to ¢¢)ndrth In operatlonal 8xtstenc• for th8 lore8éè0L4è fvI. For thls rea8c, Ih rA>ntIn to adopt tho golng COnM bqth In prwrfrwJ tho Ilnandal slat6mlS. F4Jrlher d8laNs rngardlng tho adopkn of the golThJ vJrKem ba818 can be in tho a(xxKmng PL41(%8. RM•rv•8 pollèy Th• Chorfty hokl al 31 Juty 2024 of £3S1364 (2023.. £216,372) corbsl8tlng ol £Nil {2023: £Nil) re¥trtet•d funds. £308,145 (2023: £189,814) r•61r1¢t lund8 £44,219 <£2023: £26.558) rostndad fixod a8•et fiYKI8. Sinth• govgrnanco and Th•mOnt a. Constilution F2EMPttsYrnent h reglatsred a8 a dlI12b18 Iln¥ted by gur•ont. and wa8 •Ot up under Its PAomNorrtl(m and Artlc4•• datwj 12 Septombgr 2019 a8 4moThJod byGpodal r•8olulton on 17 Februory 2020. M•thtsts of 4>polnthiont or •l•¢Oon ol Trust••s Tho man8mt of thfr Conyony Is tho ro$FSlI of th• Trustms who ara deeted and coll0ptl under the terms of tho Trtl dd. FI&1•1 rfk monog•m•nt Thg TruBt8eJ as8aS8ed thg nr rhks to whlth the Compony16 oxp068d. In parlIrth0s0 relatod to the oporallons and finarKes of iha cny, aro 8gtlsfied that sysloms arKI prtt•dur8s oro In to mItit8 P•J• 4
Fornrd2Employm•nt Llmk•d by Guarantso) T1$, Rjport (contlnu•d) For th• Y•ar End•d 31 2024 8tat•m•nt of Trut••8' r•$pon•ibilili•• The are akp tho dlrectors ol Ihe Componyfor Iho purpDsos of•J0mp law)are rn8p(mlblè lor prylng Ihe Tru8t888' Rep)rt and the finda7 61alTr kn aC0)rdCe WWI applkatlo faw and Unked Klngdom Ac(>)untkng Standards (Unltod KlThTlom GgneraIlyAc(P1Od Practlce>. Compory law woqulres the Tru81886 to rwvpgrg financlal sthm8rtB for eod) Ilnanelal . Undor coffwnylAw. the Tru8te•s not apwov& the financlal 8tateme unta88 thay 8r8 8akn8fd thel 1hoy Ov• a IN8 and Idr A6w of Ihe 6tBts of affqlrs of Company 8ThJ of Its Inc•mlng resoLYces apFdlcatlDn ol resources. Includlng IrK¥mo and •xpendthirn, for Ihat TkA1. In proparfrvJ tha80 fin)dol statomnts. th• Tnlaes oro roojlred to: 8doct •ultabh acCnI1j p)UcloB and thon aFytyth•m con$161oDl. ob86Né the mgthods ar prfndth of the c6 SORP IFRS 102): mok• aThl aoxJmthYJ Ihat are roOnIbl0 and pnthnt; 8totè whoth8r oppllcobla UK A¢Muntwy Stondards (FRS IIY2) have boon fofo)wBd. •ublo¢1 to •ny maierlol d¢parlwe6 dl6d060d and explalnod In Iho fflnondo18tatamonM' preparn the finand8l6ts1ts on tho golTrJ CO•M b•th 1••1 It lo Inapwopriata tr• prwumo that lh• Componywl rA)ntlnue In t18••. Tho Trnsloos ar• respon10 for keeplng adwate aCn11n9 remrd& that aro sufflclBnt to Ghow WKI eXn tha Company8 and dlsdos• wlth r8aKThblo aecwary 8t any lyne financlol poslllon of the Ccrfnpany 8nd thom to on8we thot tho fmandal 8lat•ments cThnply wlth the Companl&s Act 201. They ar• also rosp(Thlbl8 foT Safeguardlng a$8ots of thB CoThwBny and honce for laklw aSble 81op6 fr*th8 pr•v•ntion ar¥J dotodion offrnud and othw Ir•tleB. AFprovod by or(Iw(rfthe members ofthe l)oard ofTM•tsa• Ènd &lgn8d thotr behalf by. E A ltOn {Ch8irof TTrt Dth: IQ-03 --s Pogo 5
FoThYard2Empl0yii IA COmry Llmtt•d ty Guarnnt••) Ind•p•nd•nl Examln•ts Report Forth• Y•ar Endod 31 July 2024 Ind•pond•nt Sxamin•Vs R•portto th• Trust••8 of Fonwrd2Empl•ym•nt fth• Clxnpan I report to th8 drity TrLMtaes my uaThinalK)Tr of lh• acwjnts of thg Clxnpony for Ihg year endgd 31 Ju 2tr24. RKpon•lbllili•s and Basis ot R•port A8 thg oftr Company (and It8 dlr•etor8 lor Iho purrAas of nanY10w) you aro respJn6bi la for tho prepara11L of the a¢cwn18 In accordance wlth th8 requlremont8 ofthe Coryynles Act 2(A16 ftho 2fJ)8 kf). mysow Ihat Ih accThmts of th8 Company are Mt requlred to te ajItod und•r Part 16 of Ih 2LY)6 Act arbj arè ellgible for w)d8pendent oxamknolon, I rewl In reJpect of my axqffAnatlC of th• Compa8 acrwnts CAMod out Under1)n 145 oflh• ChwlllBB Acl 2011 (tt 2011 Arfl. In catyng out my examlnalion I have followed tlrFcth)n$ glvon by Charfty Ctynml6slon seclkrt) 14q5)(b} of th• 2011 Aet. Ind•p•nd•nt Examln•¢s 8tat•m•nt Sln¢• thfr Compan$ gross Ino3mo 6x¢&oded £250,(X)O yow oxamlnor mu81 bo a m•mb•r of A brAty lis1 In sodon 145 of ts 2011 Ad. l ¢o)flmi that l arn quallfiod to ortake Iho •xamFnolion boeaufté l •m a Mb•r of A880dBllon of Chartored Cwlified Acc4Mmtants. whlch ts ono of the Ilsted bodl88. I hava compl•t8d my WAaMIna. l ¢Jififlm that rn mattefB havo to my ottentlon In (nnOn wHh Ihg examlnallon glvlng me cau80 to believe: 4cc¥xmllng record6 not k•pt In rn8p•d of tho C(Thpwy Q8 requtred by soctlon 388 of th• 201M Acl,. C¢Amts do rnt &)mply wllh th• ietounuro r•whm•nts of 8OCtion of th9 2000 other thon W fequ]rem8nt tho1 the acL¥)unt8 gfve a and latrf th whlch is rK>l a matter clS1dered as part of Indepgndwrt 0x0rthatk. or Iho aOunts havo not boon pmparod In aceordAnca wllh tho mdhodo and prknclptes of the Statem8nt of Rec¥xnmanded Pradlce for acc and repoJtiffJ by thoritl88 lappllcAble to charlU&s yoparfng thdr accwts kn a¢wrdanc• tho Fln8ndal RoportlrKJ StarxlArd appll¢able In Ihg UK and Rewblic of trdand (FRS 102)k I heve no conc•m8 and havo cm acro8$ nL¥ other In Conned wllh th• •xamlnatton k) whk* attentlon th)uld bo dr•fi In Ihlts roport kn eidor to enabla a rmper wd•F8taTrJlw of tho a¢wunt8 to bo rMch•d. Pagg 8
PoThvard2Smthm•nt (A Comp•Thy Lknltod byGuarnnt••l Ind•pMthnt Examln•¢s R•port Itinued) For th• Year End•d 31 lY 2024 Thls TOPOrt18 mado solgly to Comp9nrf$ Tru6leM, 88 a bo(ty. kn a¢o¥danc• vAth Part 4 of tho Chari1168 (Acctsunts and R•port8) RwJlatkTh 2NJ8. MyTth has bbgn K19rtAk*rn 80 that I mlght State to Ih• cnprIn6 Tru8ts66 Ihose m8tt8r6 1 am rnqulrod to 61oto to in IW&ThYont Exano¢S R•wt and for no othgr PWP080. To th& full8st exfenl pemiittod by law. I do not acc•pt or 8$5ung respon81bMlty to other than Company and the Companls Tru8te88 as a body, for my wcrfk or for this rfrp &gno&' Datod: Lo los l£olS FCCA Xolnadin South Ea•t Llmlted 12 ConquerorC(#Jrt slit1robrn8 Konl ME10 SBH
FOrn2EmP1oYmQnl (A Cmpany Umlted by Guarnntr•l 8lai•Jrnrf offlnancw a¢tsvill•s (In¢(Wrn9 Incom• and oip•nkn aCcotI Forth• Y•ar End•d 31 lY 2024 ro funds 2024 fund• 2024 21,764 27.902 409.9V Chorftailg odtvttl•6 634•1 Total hOrn• 656,162 650,102 437.834 Expondlturn on: ChArttabl? 520.170 520,170 323,928 Total •xp•n 520.170 520,170 323.928 N•¢ mryMm•nt kn lunds 135.992 135,992 113,906 Rocondlladon •)f lunth: Total Jght10rWd hl•t nwvoment In fwKI8 21V72 135092 216Jr2 135.9f 102.486 113.906 Totsl funds ¢Mrf•d forward 352,304 352,364 216,372 Th• PA8tem•nf of Flnancw PdlvlU88 Indudo• all g8ln8 and lo#es In th• yw. Tho TrJta• on poga8 10 tr122 fomi pth oftha finAnci41 *lot•mont¥. P&J• 8
Forw•rd2Empkn•nt
(A Company Llmitsd by Guarant••)
Roglst•red numb•r. 11813984
Balanc• Sheot
As at 31 July 2024
2024
2023
FSx•d ass•ts
Taryible a8Sfjts
Curreni as¥0
10
7.015
08btor6
C88h at bank and In hand
11
75,230
291.90S
108.557
104737
367,135
214.294
Cre(Itows: arnounls falllng due vlthtn ono
year
12
140.1791
{4.937)
Net c•t assots
32Q950
209.357
Total n•t 4Ss0ts
352A04
218.372
Ch•rlty funds
Restrlcted lunds:
R•slrlctad funds
Rtricted fix&1 assel lunds
13
13
301145
¥219
189.814
26.558
Total restricted fund
13
352,364
216,372
Tothi funds
352J64
216.372
Tho Company wa8 enlltlgd lo oxernptlon from audlt under Section 477 ofthe cpanIes Aci 2008.
The membgrs ha r¥)t requirod Ihe CompY to oblth audll for lh8 year In qSt10n in 8¢cor
ForAr
FoThvMd2EmplonI (A Compw Llmlt•d ty Guarnnt••) 140tss to th• FlnanCi 8tatoments FfA th• Year End•d 31 July 2024 eountlng pollcl•• {¢ontlnu•d) 2.4 Exp•ndlturn I¢oDtlnuod) l •xp•rKNIuto h inclu6lve cl IrreMatrA• VAT. 2 Gov•rnm•nt grants Govwnwffjnt grants relatlng to twyblg ffix oss•ts aro tr6atdd aÈ daférrnd in(x)mg rol&as8d io Iha Slatam•nl ol Fln•n¢l•l Adi¥ftlo$ Iwr oxpthj wgful Ilves ol th9 OBs8ts ConCned. Olhar kvants aro crad6tsd to tho Stat6mwrt cl Flnandal Act111•• a• Ihe rn1&t 0xpj11Ur0 IB inwrod. 1.6 T•nglbh rd au6ts and d•pr•elailon Taiwlè fixod a•set8 ore inthally r•cowlsod at )st. Aftw roo(wilion. under Iha CO modgl. lawlbkn fixod 888818 are measurod ot cosl1•88 accumulatod depreoOn and any o¢rurr¥Jlatod Imp01rn lostses. AH cuts InLMMI lo brfng o langlbl• fixed a$t Into K• Inknlod workw IdOn shId b• Indudod In tho masurwngnt ofc08t. At •a¢h Tethkng dato Ccrnpany a•••sM8 Ythgth8r thwe Is klthcalkn oflwllmgnl.118 thdl¢alknn •$ts. th6 roc4)veroblo amowJnt of tho a6set h dotwmimd to bg th8 hwgr of Rs falr valu& Itss to Bell and its va8 In uAo. An Imwlmw)I lom Is r•(W98d where th• cwrylng •mourt èxc•8ds the reKx)vwoblo amwnl. Depre(yalion18 to allooata thè eojl ol tthndble fixed 108• théFr raglthjal valu ov•r th•1[ estjmatsd uthp th• strAlght4kn0 mett)od. Fixiwos and fltUr46 Officg equipmont Culer aqulpmanl 10% 8trahJht Iln8 25% •tralght11 33% •traW Ilno assets. reBtdual value¥, u88fiA INOS and d¢pre¢knllon mgthoth are wowfjd, and •usled I6p01Ve1Y K approprfate, or W thoro18 an Indcatton ofa rwll¢ant Cha 8lne• th• last reporting akns 8nd103808 Th) dlopoBah ar• delem)In•d ty ¢2tnpgty lh• proeoods th• AM01 and oro To9red In thg Staterm ol Finondal Ac114rf1505. 17 Dablo Trndg and olh8r debtors ar• r•cowt8ed at 80tt18mBnt amwnt after any trada dl8eouni offwwj. aro vduod at lh• amtwnt wepald rntof wtrado dl8eount8 du•. 2.8 Ca•h at bgnk and In hand Cash at b8nk and kn h8rKJ tnclud86 ¢A8h and th0rt4errn l¥gNy Iquld Invwlmants a slKrt maturlty of Ikwoo month8 or Iw from tho ol AcqulBltlon or t)P8nhvJ of tho thposit or similar Pwe 11
FoThvard2EmployiMnt {A Compw Llmli•d ty Guowanlm) NotOS to th• FInan¢l 8tat•m•nts Forth• Y•w Endod 31 July 2024 Accounting pollel• (¢ontlnu•dl 2.9 U•blliti•s and prov10 UablllUè• w• r•wn188d whon there 18 •n ¢blWIkn at th• B•lan¢o Sh•6t dBie 0$ a mull ola paBt ovent. li Is probable that a transfer of 00)noml¢ btsnofll 411 be reqred In wttlwn•n( and the amount of tho •etlknnl can b• e8tknatod relkbiy. LSoblllO88 are re(x)gnlsed at thè lour that t Company onllclpates tt 11 pay Io 8etl8 th• debt or the amount11 h88 rec8lv8d A• otlvonc•d pawnonts for Iho goods or tt nw81 wovklo. PmiBions ar• me&Bwed al Ihe b68t esUrMt• of th6 firnowts r•qulr6d to 6eiVg Ihg oblhJatKrf). ¥Vhore tha affect of the timo valufr ol monoy18 matsrfaL thts proNlslon Is basod on th8 presenl value of th068 amownts. dijeowrted at the Pthx thscount rai6 that r•nect8 thg rtBks sp¢th to thè 1101. The unwtrnllng of tho th(xJunt18 recffjnlBed in the Statomonl of Flnon¢fal Ad1vi as a finance uxt. 2.10 Flnan¢iAI ITh•lnmnts Tha eompgnyontylws fnand818880ts arxl llnanthl11obllltle8 of o klnd Ihol quallfy as bosicfmandal IMtNmant8. Basic frnndal InstruThrts arn Initloly r8wJnlsgd at transaction valu8 and Sub5QqLuY m8a8ured •t their 8btUwn•nl v81u8 Téilh the oxcepllon of bank 108n8 are Gth)seqW m&08urod at amorlltsèd U8kng tho Offèetlve intar•rt m9th¢. 111 Oporntlng haB•• R18 Pad urlder opwattno le8Sa8 Brn chargthl to th& stallm of Flnandal Aclvibo9 ¢)n a $knght41 ba61$ Drthe18A8e twm. 112 Fund aocwnting Restrtctod fund8 are fvnds are to bo u60d In acryjrdanco wlh 8p•¢lfl¢ re8trf¢tlons Imposed by donor8 or ¥A)lth hm bggn ralB8d by Ihg ComFony for pwuculw pry886. Th• costs ol ralslrKJ And •Jmlnl8torwy such fur# thrgad agaln8t Ihtr 8podlk fvnd. Tho aim and uea of oach r88tr1c8d fund 18 oul In th• Th)to810 tho fInddI stat•n)•rth. Z13 Ag•ncy arrang•m•nts Tho eharltyaet6 a8 an ogent In 1&191)ur8aryfvnd& frem ESFA Payn•nts f(om ESFA and wbsoquent dl8bJr8n8ntB to •tudonts exdud6d from tho 6tst0mt of financlal acti%rfU•s as th• acad•my tru8t doeB not havo (xxthol over th• ¢harftablo appliootk)n ol tho fvnds. The tharbty Can u88 up to 5% of tho ANClI10ft iowAnls its admlnistfatwjn costs and this is recognl8ed In th& statamont of firn•ndal Tho fu recaad and pad, ènd ory b8 hd aro th8dcthJ In nrAo 18. Page 12
IA Compffiy Llmlt•d by Gu•rants•) Nots• lo th• Flnanclal 8tatsmonts Forth• Y•ar End•d 31 July 2024 Crhleal acwibrtlng and aT•a$ ol Judgm•nt Estlmates and ludgm•nt8 are (xJntlnu8lly •valuated and w• based ryb 1¥stcKlcel and othgr foctors. Indurfry oxpthllons ol fvlwe evonts Ihat • beIV8d to b8 reasonable uThJer the drcumstance8. Crlucal a(untIng 861brnl88 and 86wrroti(M: Th8 CcTnpany makos estlm•tos and a8$p oxKffiilng Ihé fiAw•. Tho resultlno a¢ctyJnlt 88tlmal8s and aSSnpU8 wlll. by deffiEtlon. U01 th8 related acaual r•8ult& Th8 8slimates and a66Wons that have a dgnlffiw)l risk ol eauling a matorfal adJu61fflert to tho caYing Amoun18 01 aBEets ond IlabM61188 lIhth tho finaTr aro dl8cu886d below. Incom• from donotlong and l•goel R••trictod Total funds 2024 ft4nds funds nds 2023 Capltal Grants 21,764 21,764 2T.902 Total 2023 27.852 27,902 In¢om• for th• Charfty¥ •th¢allonal support8•rvl¢•s lund8 nd8 2024 fund 2023 ESFPLdgrant8 634.398 6348 409.932 Total 2023 409.932 409,932 Pago 13
Fomr02Employm•nt IA Compiry Lknltsd ty Guarath) For tho Y•ar End•d 31 Juty 2024 Ana19 of •xpondliuro on chorlialkn aollvltt89 fund tyP• RKtriet•d fun Total 2023 520.170 520,470 323.928 Tohl 2023 324928 323.928 An#ts of •xponditurn by aclivltla• undortak•n dlrn¢ity Support Total lunds Total 2024 2023 duethn81 suprth aérvica& 25,CQS 495,185 520.170 323.928 T•23 5,616 318,312 323,928 An81s of dlr•ct Costs Eduutlonal support seivic05 Total funds 2024 Tolal 2024 2023 PJtaff dgveloFYngnt sonI dwolppment 7,361 612 17,032 7,361 612 17,032 4,420 1, 196 25.CllS 25,1105 5.616 Tda12ff23 &618 5,616 Pago 14
(Acornpa LlmFtsd by Guarant••) Notes to th• Flnancijl 8tat•Th•nts For th• Y¢ar End•d 31 Juty 2024 Analys18 of •xpondir9 by actlvltl•s (eoDilnu•d Anaty$ls of suppqvl Eduefitlonal support Total lundi Tolal PrlnllryJ. postsga and ¥lall(mry 3.850 3.007 3,850 3,¢X17 1125 Marketlng & p1¢ R•lalion8 Ger&I adminl8lralfv8 Rent or lea88 of bulldlng8 other prerrfBes co8ts Depredatk Trovol SubserWionB Logal and prole681onal foeo R8palrs And malntenanco Bonk chrge8 staff Wagos ewj debt provTr8lon Management Chargos I1rar Z113 2.081 24.253 6.401 35,674 35,674 4,103 4,103 2.255 122 3,422 12268 12275 11275 104 219.477 3210 15.496 323.057 15.496 SO00 8230 59.343 8.230 495.185 495.165 318,312 T81 W23 314312 318.312 Ind•p•ndent •xomin•V$ r•mun•rallon 2024 2023 Fo09 poyable lo the Cpany*S Indepdent oxamInfQr tho Indepondgnl examinatl¢)n ol the Compaws 8Mu•l a¢thints 220 Z280 Trust$. rnmun•rntlon and oxpenB•• Cxwtng tho y8ar, no TDAo88 rne8fvod any remunorallan or other b8n8flts (2023. lL). DudrvJ the year 31 July 2024, no TnAte8 expan888 hAvo b•èn kwwred (2023- £154). Pago 15
(A C•Jnwny Lknlt•d by Ilotss to th• Flnanclal 8lat•m•nts Forth• Year End•d 31 Juty 2024 10. T8nglbl• fmd 4u•ts Ilttlngs gqulpmont ¢¢xt or valuallon Al 1 Augus12023 11X2IJ9 15,735 10,871 22,491 6.781 At 31 W2(r24 33.36T OoprnciAlton At 1 U81 213 Chtrp ft>r Iho 5 1795 103 At 31 Jdy 2024 7MBI 7,959 Not book volue At 31 Jy2tr24 7.125 25A08 At31WW23 4414 7.015 Pag• 18
(Acompry Umlt•d ty Guarnnte•) Not•s to th• Flnandal Stst•ts F•x th• Year Endad 31 Juty 2024 11. Dobtorn 2024 2023 lkn aft•r than on• yoar Rent d•po8lt 11,970 11,WO Du• wlthln on• y• Trado dobt(Ys 882 9.875 5,OOD 75330 108.557 11 Cr•dltorn: Amounls falllng duv wllNn on• year 2024 Trade credltors Otsr crod6tor8 Acuuak and daferrod Incan? 33,711 3.648 1657 2,280 40.179 4,937 Page 17
IACompary Lknit•d by Guarnth) Notss to tha Flnanclol Stat•monts For th• Yw Endad 31 July 2024 11 811t•m offund8 8tal•m•nt of fund. euTr•nt y••r Tran8f•f• 3alanc• it Inlout 31 July 2024 u•t 2023 Incom• Exp•ndltu DE IESFA ravenua I8•14 389344 1250,9131 308,145 IB2 a214 (182.340) (8U14) Lo1 auttK)rfty. top up 189,814 134,398 {51Q067) 30&145 Restrlcted fix•d a50t fundi Asuts held for deprochU¢Jn CarAtal &wants 7.015 I95 14103) 25AO8 18.811 21,7•4 26A5B 24,764 (4.103) •IV19 Tot•1 R•8trld•d 656,162 (520.170 Re8lthd lund8 aro appliod speelknly N) accud¢9 wxh tho rul88 al each grant and 8UPPOrt th• Jedlvos delhréd by lh8 Charfty. Rastrlct•d Ilx•d *5sot funds aro appw to th• molnt•nanc• knprov8nMt ol all Iho ChwW• fix•d Page 18
(A Conwary Limit•d by Gu•r•nt0•) Noi•5 to th• Fln•nGlnl 81•t•m•rt8 For tho Y•ar Enthd 31 July 2024 13. Sta¢•m•nt of funds (contlnuod) 8tatsment of funds - prlory•ar i AuguJt Translers Bal•nce al Rostrictod funds DIE ESFA r•v•nue won18 Olhgr oov¢mm•nt rnvenue 102,468 246,381 (15¢072) (961) 18&.814 134506 24095 (IM506) (24095) Loc41 wthty- top up 102,486 409.982 (321,873) i) 189.814 R•strltyt•d fft•d a5Setfun Assets heid for dopreciali(*) C&t4tAI orants R255) 9,270 (8,3099 7.015 19.543 27.852 27,852 R255) 24558 Total RMtrl¢t•d funds iOZ466 437.834 (323,928) 218,372 Page 19
IA Compiny Lknknd ty awrantro) Not•s to th• Flnan¢il Stat•ments For the Y•ar End•d 31 July 2024 14. 8unNMry affunds 8ummory olfund8- eun¥nt Balan 4t 1 August %)23 Tronsf•rs Balan at inlout 31 July 2024 Ineom• Exnthir• 189JJ14 (51611671 14103 308,145 44,219 6J72 OK162 1520,170 8ummwy of funds- prlor ymr l Aiwt 31 J(ty2023 Rotstrithd fvnds Rel¢ied ilxed 08tset funds 102,486 409.982 27.852 (321.673) (1254 18tr.814 2&558 102.466 437.834 (823,928) 214372 Page 20
Fonvard2Employm•nt (A ComnY Llmlt•d by Guuant•• Notss io th• FSnanclal 8tat•m•nts For th• Y•ar End•d 31 Juty 2024 l& Anatysh ol n•t •• boM•n furbdB Anotysh of n•t a•••l• b•iw••n fund8- ¢wr•nt p•rfod R•strictsd R•stiict•d fix•d ass•t runds Tolal fvnds 2024 2024 Tarylbl• Ilx•d 480ts Dobtors due after Ire ona year ont a88•ts 25A18 25AO8 11.9TO 355.165 (40,179) 236,354 <40.179) 18.811 Total 308,145 44.219 352,364 Analys of net 0880ts bolwn fvnd•- wlor p•rlod funds 2Q3 23 Tanglbl• fix•d o•Mts Current a6s•ts Cr•dltor8 duo wryihk) on• Or 7.015 19.543 7.015 214.294 (4.9371 194.751 14937) Totsl 189.814 26.558 216.372 16. Op•r•thg l&a8e commllm•nts At 31 Juty 2ty24 the panY cornnlkn•nts to mak• futuro mtrknum l•u• pgsTh•rts und•r ncTr 1nlIab ¢¥orallng l•a•e6 a8 follows: 21124 Not l•t•r l yw Later than 1 yw arnl not bAtw thon S 22339 77.973 19.327 IIHI.212 19,327 Page 21
IA CompAny Llmit•d by Guarant••) Nots# to tho Flnanclal gtatsm•nts Fxth• Yèar Ended 31 July 2024 17. R•lat•d party transactlon8 trfft9 tha y8Ar. tho pakl £323.057 P023: £219.288) In r•l#kn to Staff wag•s and £80.00012023: £Sg.343) h relaljon to mAna9gment drg85 to Forfl$ Trust 18 an aeod8my tru8L Th• d*iity$ trustoe E A Holton Is also the vke dpA1 of F(xUs TpJ6L kn of 31 Juiy W24. £26.006 {2023: £Nil> wa8 outslonthng. Th8 thawlty dlstrlbutM 1&19 bursary fund8 to St1 as aggrbt for ESFA. In Ihe a¢a)ling Perknd fAKling 31 July 2024 fhe chorfty rocalved £4,088 and dlsbur8ed £440. Thore h A batanc• af £3,648 Induded in other uethtorn to undi6trfbuW fund8 Ihat Is repa0 to ESFA. cOmparn¥8 for Ih accnting pwknd 31 Juty 2023 wo £10,8110 recVed. £10,8 di6bur8od and £NII