2021-08-31-accounts

CONTENTS
		Page
CHARITY INFORMATION
CHAIRPERSON'S	REPORT	2-3
MANAGEMENT BOARD'S REPORT		4-7
STATEMENT OF	MANAGEMENT BOARD'S RESPONSIBILITIES
INDEPENDENT AUDITORS' REPORT		9-11
STATEMENT OF	FINANCIAL ACTIVITIES (INCORPORATING
INCOME AND EXPENDITURE ACCOUNT)		12
STATEMENT OF	FINANCIAL POSITION	13
STATEMENT OF	CASH FLOWS	14
NOTES TO THE	FINANCIAL STATEMENTS	15-24

								Unrestricted	Funds
							Note	2021	2020
Income from	charitable		activities
- Practical Delivery								614,035	1,042,741
-Academic								960,393	1,462,563
-Work Based	Assessors							481,423	933,598
								2,055,851	3,438,902
Investment income
Interest receivable								225	1,524
Other income
Grants receivable								70,981	48,321
Total income								2,127,057	3,488,747
Expenditure on charitable				activities
- Practical Delivery								816,745	1,188,346
-Academic								1,110,254	1,398,820
- Work Based	Assessors							474,917	628,821
Total expenditure								2,401,916	3,215,987
Net (deficit) I	surplus	for		the	year			(274,859)	272,760
Fund balances	brought		forward		at beginning	ofyear		644,188	371,428
Fund balance	carried	forward			at end ofyear			369,329	644,188

		Unrestricted	funds
	Note	2021	2020
FIXEDASSETS
Tangible assets	10	300,524	389,156
CURRENT ASSETS
Debtors		1,898,302	2,383,139
Cash at bank and in hand		1,124,265	1,288,452
		3,022,567	3,671,591
CREDITORS
due within one year	12	(1,109,699)	(1,354,122)
NET CURRENT ASSETS		1,912,868	2,317,469
TOTAL ASSETS LESSCURRENT LIABILITIES		2,213,392	2,706,625
CREDITORS
due after more than one year	12	(1,844,063)	(2,062,437)
NET ASSETS		369,329	644,188
TRUSTEES' FUNDS
Retained surplus		369,329	644,188

						Note		2021	2020
Cash flows from operating	activities
Net movement in funds								(274,859)	272,760
Adjustments to cash flow from non-cash			items:
Depreciation and amortisation						4,5		125,697	136,057
Profit on disposal offixed assets						4,5			(377)
Finance income								(225)	(1,524)
Finance cost								3,055	3,143
								(146,332)	410,059
Working capital adjustments:
Increase in debtors								485,382	(621,398)
Increase in creditors								450,495	655,007
Net cash flow from operating		activities						(111,445)	443,668
Cash flows from investing	activities
Interest received								225	1,524
Acquisitions offixed assets						10		(37,065)	(16,413)
Proceeds from sale offixed assets									1,009
Net cash flows from investing		activities						(36,840)	(13,880)
Cash flows from financing	activities
Hire purchase interest								(2,787)	(3,143)
Loan interest								(268)
Movements in finance leases								(10,764)	(10,764)
Repayment of loans								(2,083)
Draw down on new loans									125,000
Net cash flows from financing		activities						(15,902)	111,093
Net movement in cash and	cash equivalents							(164,187)	540,881
Cash and cash equivalents	at	1 September						1,288,452	747,571
Cash and cash equivalents	at	31 August						1,124,265	1,288,452
Analysis ofchanges in net	debt
				At	1			Other non	At 31
				September				cash	August
				2020		Cash	flows	changes	2021
					F				F
Cash and cash equivalents
Cash				1,288,452		(164,187)			1,124,265
Borrowings
Due within 1 year							2,083	(27,083)	(25,000)
Due after more than 1 year				(125,000)				27,083)	(97,917)
Total net debt				1,163,452		(162,104)			1,001,348

INCOME
2021			Pract&cal		Work Based
			Delivery	Academic	Assessors	Total
			E	E
Government	funded	apprenticeships	579,324	376,706	471,383	1,427,413
Commercial	courses		34,173	583,367	9,928	627,468
Other income			538	320	112	970
			614,035	960,393	481,423	2,055,851
			Practical		Work Based
2020			Delivery	Academic	Assessors	Total
			E			E
Government	funded	apprenticeships	1,032,975	898,475	792,505	2,723,955
Commercial	courses		8,000	562,225	140,112	710,337
Other income			1,766	1,863	981	4,610
			1,042,741	1,462,563	933,598	3,348,902

		2021	2020
		E
Auditors' remuneration	(net ofVAT)
Costs of external scrutiny		7,833	7,000
Other financial services		2,146	2,892
		9,979	9,892
STAFF COSTS
		2021	2020
Wages and salaries		1,502,387	1,974,787
Social security costs		154,376	206,976
Pension costs		64,509	80,343
Other staff costs		46,682	81,933
		1,767,954	2,344,039

			2021	2020
680,001	to	f90,000 p.a
f90,001	to	E.100,000 p.a

The average number	ofemployees was:
		2021	2020
Senior Management	Board (And CEO HR and Finance)	7	8
Business Support		3	6
Workshop (Practical	delivery)	10	17
VRQ (Academic team)		16	19
Review Officers		8	10
		44	60

	Leasehold	Plant and
	improvements	machinery	Total
		F
Cost
At 1 September 2020	637,918	670,551	1,308,469
Additions		37,065	37,065
Disposals		(12,846)	(12,846)
At 31 August 2021	637,918	694,770	1,332,688
Depreciation
At 1 September 2020	452,556	466,757	919,313
Charge for year	62,797	62,900	125,697
Disposals		(12,846)	(12,846)
At 31 August 2021	515,353	516,811	1,032,164
Net book value
At 31 August 2021	122,565	177,959	300,524
At 31 August 2020	185,362	203,794	389,156

11	DEEITORS
				2021	2020
Trade debtors				4,504	9,493
	Prepayments and accrued income			1,893,253	2,376,646
	Other debtors			545
				1,898,302	2,383,139
Included with accrued income is E1,044,534 (2020 - E1,480, 132) due in more than one year.
12	CREDITORS
			Note	2021	2020
					E
	Due within one year
	Loans and borrowings		13	25,000
	Net obligations under finance lease and hire purchase	contracts	13	9,571	10,164
	Trade creditors			105,597	26,325
	Taxation and social security			48,867	52,346
	Accruals			13,156	57,116
	Other creditors			907,508	1,208,171
				1,109,699	1,354,122
	Due after one year
	Loans and borrowings			97,917	125,000
	Dilapidations provision			175,000	175,000
	Other creditors			1,549,322	1,730,442
	HP Liability		13	21,824	31,995
				1,844,063	2,062,437

			2021	2020
				f
Due within one year
Bank loans			25,000
Net obligations	under finance lease and hire purchase	contracts	9,571	10,164
			34,571	10,164
Due after one	year
Bank loans			97,917	125,000
Net obligations	under finance lease and hire purchase	contracts	21,824	31,995
			119,741	156,995

OTHER FINANCIAL COMMITM	ENTS
As at 31 August 2021 the following	annual	commitments	were held under non-cancellable	agreements:
2021
			Land and	Other	Total
			buildings
Expiry date: Within one year Between two and five years			166,600	11,164 29,433	177,764 29,433
Over 5years
			166,600	40,597	207,197
2020
			Land and	Other	Total
			buildings
Expiry date: Within one year Between two and five years			166,600 166,600	11,164 40,597	177,764 207,197
Over 5years
			333,200	57,761	384,961