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|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|
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|||||||||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|
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|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|
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|||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|||
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|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|
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||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|
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|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|
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||||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|
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|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|
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