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||||||Page|
|---|---|---|---|---|---|
|Reference and Administrative||||Details ofthe Charity, its Trustees and Advisers|1-2|
|Chairman's|Statement||||3-4|
|Trustees' Report|||||5-10|
|Trustees' Responsibilities|||Statement|||
|Independent|Auditor's|Report||on the Financial Statements|12 - 14|
|Consolidated|Statement||of Financial Activities||15|
|Consolidated|Balance|Sheet|||16|
|Charity Balance Sheet|||||17|
|Consolidated|Statement||ofCash Flows||18|
|Notes to the|Financial|Statements|||19-42|
##
|Trustees|||Terry Scuoler CBEMIEx, Chair||
|---|---|---|---|---|
||||Marcel Landau
MIEx (Grad), Vice-Chair||
||||Dominic Broom MIEx, Hon Treasurer||
||||Caroline Gumble
MIEx||
||||Rob Keller FIEx||
||||Prof Sangeeta Khorana
MIEx||
||||Mark Lincoln MIEx, Membership|Chair|
||||Maria Malinowska
FIEx (Grad)||
||||Allen Matty MBE MIEx||
||||Stephen
McQuillan
MIEx||
||||Sean Ramsden
MBE MIEx||
||||Nick Clark FIEx (Grad) (Retired|19October 2021)|
||||Peter Ward FIEx{Resigned 8October 2021)||
|Patron|||HRH the Duke of Kent, KG||
|President|||Lord Green of Hurstpierpoint||
|Company|registered||||
|number|||00307186||
|Charity registered
number|||266395||
|Registered||office|Export House||
||||Minerva Business Park||
||||Lynch Wood||
||||Peterborough,
United
Kingdom||
||||Cambridgeshire||
||||PE2 6FT||
|Key Management|||Director General - Marco Forgione||
||||Academy
Director - Kevin Shakespeare||
||||Chief Financial
Officer (CFO) -|Gary Wattley|
|Independent||auditor|MHA Maclntyre
Hudson||
||||Peterbridge
House||
||||The Lakes||
||||Northampton||
||||NN4 7HB||
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
||Note|||E|
|Income from:|||||
|Charitable
activities||18,498,576|18,498,576|11,598,806|
|Other trading
activities||1,724,439|1,724,439|1,190,509|
|Investments||8,190|8,190|2,169|
|Other income||60,295|60,295|52,533|
|Total income||20,291,500|20,291,500|12,844,017|
|Expenditure
on:|||||
|Raising funds|8|367,709|367,709|463,573|
|Charitable
activities|9|9,910,977|9,910,977|4,964,139|
|Total expenditure||10,278,686|10,278,686|5,427,712|
|Net movement
in funds||10,012,814|10,012,814|7,416,305|
|Reconciliation
offunds:|||||
|Total funds brought forward||8,415,121|8,415,121|998,816|
|Net movement
in funds||10,012,814|10,012,814|7,416,305|
|Total funds carried forward||18,427,935|18,427,935|8,415,121|
##
||||||||||As restated|As|restated|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Note|||2021|2021f|2020
E||2020
E|
|Fixed assets||||||||||||
|Intangible
assets||||14|||||||6,300|
|Tangible assets||||15||||311,951|||332,667|
|||||||||311,951|||338,967|
|Current assets||||||||||||
|Stocks||||17|||4,824||3,298|||
|Debtors: Amounts|falling due within one year|||18||3,411,176|||3,219,451|||
|Investments||||19||6,024,898|||1,104,886|||
|Cash at bank and|in|hand||23||12,208,754|||7,055,279|||
|||||||21,649,652|||11,382,914|||
|Creditors: Amounts||falling|due within one|||||||||
|year||||20||(3,533,668)|||(3,306,760)|||
|Net current assets||||||||18,115,984||8,076,154||
|Total net assets||||||||18,427,935||8,415,121||
|Group funds||||||||||||
|Unrestricted
funds||||21||||18,427,935||8,415, 121||
|Total funds||||||||18,427,935||8,415,121||
|The Trustees acknowledge|||their responsibilities|for|complying||with the|requirements|of the Companies||Act 2006|
|with respect to accounting|||records and preparation||of|financial|statements.|||||
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||||||||As restated|
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||||||Note|E|E|
|Cash flows from operating||activities||||||
|Net cash|used
in operating|activities|||22|10,159,711|7,029,084|
|Cash flows from investing||activities||||||
|Investment
income|||||6|8,190|2,169|
|Purchase|oftangible fixed assets||||15|(94,414)|(73,664)|
|Purchase|of investments||||19,24|(4,920,012)|(1,104,886)|
|Net cash|used in investing|activities||||(5,006,236)|(1,176,381)|
|Change|in cash and cash|equivalents|in|the year||5,153,475|5,852,703|
|Cash and|cash equivalents|at the beginning||ofthe year (as restated)||7,055,279|1,202,576|
|Cash and cash equivalents||at the end|of|the year|23|12,208,754|7,055,279|
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|Freehold
buildings|2% on cost|
|---|---|
|Fixtures and fittings|10% on cost|
|Office equipment|25% on cost|
|Computer
equipment|33% on net book value|
|CRM database|25% on cost|
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|||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|
|||||||funds|funds|
|||||||2021f|2021
F|
||Education,||membership|and|profile work|18,498,576|18,498,576|
|||||||Unrestricted|Total|
|||||||funds|funds|
|||||||2020|2020|
||Education,||membership|and|profile work|11,598,806|11,598,806|
|5.|Income|from other trading|||activities|||
|||||||Unrestricted|Total|
|||||||funds|funds|
|||||||2021|2021|
||||||||E|
||Training|income||||1,724,439|1,724,439|
|||||||Unrestricted|Tote/|
|||||||funds|funds|
|||||||2020|2020|
||Training|income||||1,190,509|1,190,509|
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||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2021|2021|
||||E||
|Bank|interest|receivable|8,190|8,190|
||||Unrestricted|Total|
||||funds|funds|
||||2020|2020|
|||||E|
|Bank|interest|receivable|2,169|2,169|
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021f|
|Other||60,295|60,295|
|||Unrestricted|Totel|
|||funds|funds|
|||2020|2020|
|Member's|summit|105|105|
|Other||52,428|52,428|
|||52,533|52,533|
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||E||
|Training|costs|367,709|367,709|
|||Unrestricted|Total|
|||funds|funds|
|||2020|2020|
|Training|costs|463,573|463,573|
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||Activities|||
|---|---|---|---|
||undertaken|Support|Total|
||directly|costs|funds|
||2021|2021|2021|
||K|F|K|
|Memberships|233,725|90,196|323,921|
|Education|7,422,365|2,164,691|9,587,056|
||7,656,090|2,254,887|9,910,977|
||Activities|||
||undertaken|Support|Total|
||directly|costs|funds|
||2020|2020|2020|
|||E||
|Memberships|180,686|28,636|209,322|
|Education|4,067,580|687,237|4,754,817|
||4,248,266|715,873|4,964,139|
##
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|||||Total|
|---|---|---|---|---|
|||Memberships|Education|funds|
|||2021|2021|2021|
|Staff costs||42,207|1,012,964|1,055,171|
|Depreciation|and amortisation|1,498|35,943|37,441|
|Finance||2,200|52,807|55,007|
|Information|Technology|7,132|171,175|178,307|
|Human
Resources||5,734|137,610|143,344|
|Office costs||18,956|454,951|473,907|
|Governance||4,192|100,596|104,788|
|Other||8,277|198,645|206,922|
|||90,196|2,164,691|2,254,887|
|||||Total|
|||Memberships|Education|funds|
|||2020|2020|2020|
|||E|E||
|Staff costs||4,255|189,226|193,481|
|Depreciation|and amortisation|729|17,480|18,209|
|Finance||966|23,171|24,137|
|Information|Technology|1,202|28,834|30,036|
|Human
Resources||2,474|59,374|61,848|
|Office costs||7,426|91,138|98,564|
|Governance||6,282|150,762|157,044|
|Other||5,302|127,252|132,554|
|||28,636|687,237|715,873|
##
||||2021|2020|
|---|---|---|---|---|
||||E|E|
|Auditor's|remuneration|-Audit ofthe financial statements|6,790|6,105|
|Auditor's|remuneration|-Other services|27,909|8,046|
|Board meetings|||1,956|816|
|Trustees|expenses||5,589|2,720|
|Consultancy
fees|||41,501|139,331|
|Legal fees|||21,043|26|
||||104,788|157,044|
##
|Auditor's
remuneration|||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E||
|Fees payable to the Charity's|auditor||for the audit ofthe Charity's|annual|||
|accounts|||||6,790|6,105|
|Fees payable to the Charity's|auditor||in respect of:||||
|All non-audit
services not included||above|||27,909|8,046|
|Audit ofthe financial statements
of||the subsidiary|||3,228|2,988|
##
|Staff costs|||||
|---|---|---|---|---|
||Group|Group|Charity|Charity|
||2021|2020|2021|2020|
|||E||E|
|Wages and salaries|5,151,705|1,012,501|4,998,950|838,589|
|Social security costs|533,112|88,261|516,107|70,528|
|Pension costs|179,781|27,063|168,294|20,708|
||5,864,598|1,127,825|5,683,351|929,825|
|||Group|Group|
|---|---|---|---|
|||2021|2020|
|||No.|No.|
|Raising funds||12||
|Charitable|activities|90||
|Governance||5||
|||107|20|
|||Group|Group|
|---|---|---|---|
|||2021|2020|
|||No.|No.|
|Raising funds||12||
|Charitable|activities|90||
|Governance||5||
|||107|18|
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|Group|Group|
|---|---|
|2021|2020|
|No.|No.|
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||Website|Education||
|---|---|---|---|
||development
f|development|Total
F|
|Cost||||
|At 1 January 2021|28,950|750|29,700|
|Disposals|(28,950)||(28,950)|
|At 31 December 2021||750|750|
|Amortisation||||
|At 1 January 2021|22,650|750|23,400|
|Charge for the year|720||720|
|Disposais|(23,370)||(23,370)|
|At 31 December 2021||750|750|
|Net book value||||
|At 31 December 2021||||
|At 31December 2020|6,300||6,300|
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||||Fixtures and|Computer||
|---|---|---|---|---|---|
|||Freehold|fittings and|equipment||
|||land and|office|and CRM||
|||buildings|equipment|Database|Total|
||||F|||
||Cost|||||
||At 1 January 2021|287,529|39,485|98,567|425,581|
||Additions||8,549|85,865|94,414|
||Disposals||(48,034)|(108,832)|(156,866)|
||At 31 December 2021|287,529||75,600|363,129|
||Depreciation|||||
||At 1 January 2021|34,413|26,098|32,403|92,914|
||Charge for the year|5,700|2,932|28,089|36,721|
||On disposals||(29,030)|(49,427)|(78,457)|
||At 31 December 2021|40,113||11,065|51,178|
||Net book value|||||
||At 31 December 2021|247,416||64,535|311,951|
||At 31December 2020|253,116|13,387|66,164|332,667|
|16.|Fixed asset investments|||||
||||||Investment|
||||||in|
||||||subsidiary|
||Charity||||companyf|
||Cost|||||
||At 1 January 2021||||100|
||At 31 December 2021||||100|
##
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|||||Group|Group|
|---|---|---|---|---|---|
|||||2021|2020|
|Publicity materials||||4,824|3,298|
|The Charity|held no stock in either the current or previous|reporting|period.|||
##
##
|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2021|2020f|2021|2020f|
|Trade debtors||2,555,164|404,835|2,536,281|242,050|
|Amounts
owed by group undertakings||||51,359|36,718|
|Other debtors||34,462|18,426|34,149|16,878|
|Prepayments|and accrued income|821,550|2,796,190|821,550|2,795,960|
|||3,411,176|3,219,451|3,443,339|3,091,606|
##
||||||Group|||Charity|
|---|---|---|---|---|---|---|---|---|
||||Group|As|restated|Charity|As|restated|
||||2021||2020f|2021||2020f|
|Fixed|term|deposits|6,024,898|1,|104,886|5,939,898||765,013|
##
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||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||E||||
|Trade creditors|||189,465|943,107|187,256|908,095|
|Other taxation and social security|||1,146,971|729,043|1,121,519|631,798|
|Other creditors|||102,299|18,693|102,299|18,693|
|Accruals|and deferred
income||2,094,933|1,615,917|1,814,426|1,277,750|
||||3,533,668|3,306,760|3,225,500|2,836,336|
||||Group|Group|Charity|Charity|
||||2021|2020|2021|2020|
|Deferred|income||||||
|Deferred|income at 1 January||1,095,261|535, 760|777,654|362,681|
|Resources deferred
during the year|||1,410,229|2,378,023|1,151,772|1,108,005|
|Amounts|released from previous|periods|(1,095,261)|(1,818,522)|(777,654)|(693,032)|
|Deferred|income at 31 December||1,410,229|1,095,261|1,151,772|777,654|
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|||||||||||Group
2021|Group
' 2020|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||E||
||Net
income
for
the||year|(as|per|Consolidated|Statement|of||||
||Financial Activities)|||||||||10,012,814|7,416,305|
||Adjustments
for:|||||||||||
||Depreciation
charges||||||||15|36,721|17,489|
||Amortisation
charges||||||||14|720|720|
||Investment
income||||||||6|(8,190)|(2,169)|
||Loss on disposal of|tangible||fixed|assets||||15|78,409||
||Loss on disposal of|intangible||fixed assets|||||14|5,580||
||Increase
in stock||||||||17|(1,526)|(1,395)|
||Increase
in debtors||||||||18|(191,725)|(2,925,591)|
||Increase
in creditors||||||||20|226,908|2,523,725|
||Net cash provided|by operating|||activities|||||10,159,711|7,029,084|
|23.|Analysis ofcash and||cash|equivalents||||||||
||||||||||||Group|
|||||||||||Group|As restated|
|||||||||||2021|2020|
|||||||||||F||
||Cash at bank and in|hand||||||||12,208,754|7,055,279|
||Total cash and cash equivalents|||||||||12,208,754|7,055,279|
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|||As restated||At 31|
|---|---|---|---|---|
|||at 1 January||December|
|||2021|Cash flows|2021|
|||||F|
|Cash|at bank and in hand|7,055,279|5,153,475|12,208,754|
|Liquid|investments|1,104,886|4,920,012|6,024,898|
|||8,160,165|10,073,487|18,233,652|
##
||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2021f|2020|2021
E|2020f|
|Contracted for but not|provided|in these|||||
|financial statements|||||||
|Acquisition
of intangible|assets||230,729||230,729||
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|payments|und|er non-cancellable
operating
leas|es as follows:||||
|---|---|---|---|---|---|---|
||||Group|Group|Charity|Charity|
||||2021|2020|2021|2020|
||||E|E|F||
|Not later than||1 year|123,538|672,270|123,000|672,270|
|Later than|1 year and not later than 5years||211,769|12,189|211,500|12,189|
||||335,307|684,459|334,500|684,459|
|Group|Group|
|---|---|
|2021|2020|
|27,628|17,829|
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