Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Registered number: 00992831 Charity number: 502259
Tyne North Training Limited
(A company limited by guarantee) Annual report Year ended 31 July 2025
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details | 1 - 2 |
| Trustees' report | 3 - 8 |
| Trustees' responsibilities statement | 9 |
| Independent auditors' report to the members of Tyne North Training Limited | 10 - 13 |
| Statement of financial activities | 14 |
| Balance sheet | 15 |
| Statement of cash flows | 16 |
| Notes to the financial statements | 17 - 28 |
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Reference and administrative details Year ended 31 July 2025
Trustees
T I Selkirk, Chairman / acting Chief Executive Officer
C Pratt, Vice Chairman S Armstrong G Longstaff (appointed 8 October 2024)
Key management personnel
Michael Needham, Chief Executive Officer (resigned 30 September 2024)
David Collins, Chief Executive Officer (appointed 1 August 2025, formerly part of Key Management Personnel as a Senior Training Officer)
Geoff Moore, Quality Manager
Company registered number
00992831
Charity registered number
502259
Registered office
Embleton Avenue Wallsend Newcastle upon Tyne Tyne and Wear NE28 9NJ
Company secretary
Michael Needham (resigned 30 September 2024) David Collins (appointed 3 February 2025)
Independent auditor
UNW LLP Chartered Accountants Citygate St James' Boulevard Newcastle upon Tyne NE1 4JE
Bankers
Barclays Bank Plc 49/51 Northumberland Street Newcastle upon Tyne Tyne and Wear NE1 7AF
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Reference and administrative details (continued) Year ended 31 July 2025
Solicitors
Hay & Kilner Helix, The Lumen St James' Boulevard Newcastle upon Tyne NE4 5BZ
Investment managers
Rathbone Investment Management Limited Earl Grey House 75-85 Grey Street Newcastle upon Tyne NE1 6EF
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Trustees' report Year ended 31 July 2025
The trustees, who act as directors for the purposes of company law, are pleased to present their annual report together with the financial statements for the year ended 31 July 2025.
The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and the financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (strategic Report and Directors' Report) Regulations 2013 has been omitted.
OBJECTIVES AND ACTIVITIES
The company, Tyne North Training Limited (TNT), objectives are specific towards the advancement of learning and education for the public benefit of persons engaged in or intending to be engaged in the engineering, manufacturing, processing and related industries.
Core Business Objectives
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Maintain apprenticeship recruitment levels and the number of new employers;
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Maintain or improve overall apprenticeship completion rates;
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Achieve a financial operational surplus; and
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Continually enhance the quality of learning delivery.
The overall aim is to deliver a high-quality service to an increasing number of apprentices and employers within the region by increasing the skills, knowledge and understanding of those involved in engineering and businessrelated activities.
Contracts with the Department for Education (DfE) and employers provide the funding to deliver accredited advanced apprenticeship standards benefiting young people, the majority whom begin their apprenticeships between the ages of 16-18 years old. The total number of apprentices on-programme during 2024 - 2025 was 283 (2023 - 2024: 344).
We assist the employers in the recruitment process by initially screening all applicants and placing them through an engineering related aptitude test. This is to ensure we present the most suitable potential candidates to employers.
The policy of the trustees is to utilise the charity reserves in supporting business growth and manage risk with any additional surpluses used to enhance the skills and learning of existing apprentices; support employer engagement; design and implement business model changes in response to DfE funding rule changes; and be available as contingency funding in the event of apprentices being made redundant and/or the loss of government funded contracts.
The charity's main activities are to:
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Continue to align business operations to DfE funding rules and regulation;
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Maximise the availability of high-quality apprenticeship candidates for potential employers;
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Deliver high quality, sustainable engineering, manufacturing and business administration apprenticeships.
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Drive and sustain employer engagement and business development activities;
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Finance, plan, resource, implement, and manage business change projects in response to market opportunities and to mitigate charity risk; and
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In the event of any apprentice being made redundant, support and identify alternative employment opportunities for the continuation of their apprenticeship.
Funding levels along with the operation and main activities are reviewed on a annual basis by the trustees.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Trustees' report (continued) Year ended 31 July 2025
Grant making is not a material part of the charity's activities.
Public Benefit
The charitable company offers a wide range of advanced apprenticeships and functional skills to relevant apprentices within the local engineering, manufacturing and business sectors. We are very committed to delivering a high standard of quality that will ensure all users of our service are completely satisfied and have the opportunity to make appropriate comments.
We assist companies to understand and comply with current apprenticeship standards, the contractual arrangements and the apprenticeship levy system. We also support young people in making appropriate apprenticeship decisions, many from disadvantaged backgrounds, guiding them with information and advice to achieve their full potential successfully, progressing them through a level 3 apprenticeship and also providing encouragement and further support onto higher education courses. Should any apprentice be facing the prospect of a possible redundancy, we will continue to offer support and ensure the smooth transition from one employer to another.
ACHIEVEMENTS AND PERFORMANCE
Achievement s
Achievements of the charity are assessed internally and externally, both qualitatively and quantifiably through.
Internal assessment
This is performed through a review against company operating policies and procedures within our Quality Assurance (QA) system that is continually updated along with yearly performance management against business objectives.
External assessments
In November 2024 financial assurance teams from the DfE (then the ESFA), completed a full financial audit against the contractual funding requirements and obligations resulting in a resounding clean bill of health.
In late May 2025 we were subjected to an inspection by Ofsted, resulting in a rating of ‘Good’. This confirmed our high standards of delivery and highlighted overall leadership and management as a particular strength.
Strategic Objectives
Our first strategic objectives were to recruit and train potential apprentices to meet our functional and business requirements, this being achieved by supporting our Training Officers. Our second objective was to minimise external risks and to ensure high levels of compliance through enhanced process standardisation. To achieve this, we introduced an operational audit process to ensure compliance with the DfE funding rules.
The DfE subcontractors rules prohibits any more than 25% of a main providers apprenticeship funding being subcontracted. This requires us to secure and maintain its 'Contractor Cap Exemption' status which was approved for the current year, with an application made and successfully granted for the 2025/26 year. Exemption for 2026/27 will be applied for at the appropriate time.
Staff Matters
Stable staff levels have promoted a good work ethic to complete all the required procedures by keeping sufficient and appropriate records allowing the company to maintain its high standards. The former Chief Executive Officer (CEO) left the charity with effect from 30 September 2024. The chair of the board took on the responsibilities of the CEO whilst a replacement was sought.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Trustees' report (continued) Year ended 31 July 2025
External Factors Impacting Achievement
The main external factors affecting the achievement of business objectives during 2024 - 2025 were:
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The continuing workload of staff for those learners that were due for completion in 2023/24 backed up from those learners with previous years overdue completions dated who were impacted by the coronavirus pandemic - the delayed learners were completed by the end of the financial year; and
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Timely completion of subcontracted delivery of qualifications enabling learner to proceed to End Point Assessment.
Fund Raising
The charity does not raise funding from the general public.
FINANCIAL REVIEW
Income has decreased to £1,470,632 (2024: £1,697,236) with the key movement being a reduction in learner recruitment that resulted in a reduction of funding from the DfE. Support costs are well controlled and have decreased by 16% compared to the previous year. E x penditure on charitable activities has decreased significantly to £1,466,185 (2024: £1,738,601) as a result of the reduction in the Key Management Personnel remuneration. The year end result was a surplus of £16,936 (2024: deficit of £18,841) on unrestricted funds, after investment gains. Given some of the challenging circumstances during the period described above the trustees are satisfied with the year end position.
Investment Policy
The trustees retain its policy of caution where monies are invested – this is reviewed both annually and on receipt of quarterly investment reports, to ensure funds are available for the company to continue to support apprenticeships.
Our investment portfolio managed by Rathbones, has increased to £374,620 from £357,580.
Reserves Policy
The level of unrestricted reserves on 31 July 2025 was £1,074,999 (2024 - £1,058,063).
A policy has been created to ensure that an adequate level of funds, as a minimum, is held to cover possible events below.
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A fund level to minimise risk to the charity's ability to operate as a going concern.
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Enable the charity to discharge all its commitments to existing apprentices and companies, should government funding diminish or cease.
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Fund business development and growth to remain competitive and to offer the charity's services to a wider business community.
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Support apprentices made redundant to continue and complete their apprenticeships with alternative employers.
A designated capital fund of £332,796 was held at 31 July 2025 which is equal to the net book value of the property. The free reserves held at 31 July 2025 were £716,915. Given the ongoing economic uncertainties the board are satisfied with the level of reserves, which represent approximately 6 months running costs.
Principle Funding Sources
Principle funding sources and associated activities during 2024-25
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DfE - 100% government funding up to the apprenticeship standard funding cap for 16-18 apprentices to cover training costs when employed within a small company employing less than 50 employees with a payroll of less than £3 million, however there is a 5% employer funding contribution should they recruit a 19+ apprentice; 95% funding from the DfE and 5% funding cost for an employer recruiting an apprentice who employs more than 50 employees but has a payroll of less than £3 million;
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Employers - Large companies who employ more than 50 employees with a payroll in excess of £3 million fund Tyne North Training apprenticeships direct through their employer levy accounts.
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Commercial income - investment income and interest – a small proportion of income is generated through the delivery of NVQs to existing adult employees working within apprenticeship employing companies.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Trustees' report (continued) Year ended 31 July 2025
- Investments - These are held by an investment manager aiming to bring short term funding through interest and dividend income and long term funding through capital growth and interest received on those investments held.
Going Concern
Whilst the charity has gone through a period of change at management level, the board have prepared and reviewed forecasts for the coming periods based upon expected apprenticeship take up rates and known funding sources. With robust systems in place to ensure ongoing high quality delivery of work and taking into account the significant reserves held, the trustees are satisfied that the going concern basis of preparation remains appropriate for these financial statements.
PLANS FOR FUTURE PERIODS
The company will continue to effectively manage external changes and challenging targets contained within the core objectives agreed each year, to effectively capitalise on future growth opportunities and enhance quality delivery.
The charity will continue to focus on achieving its core objectives to:
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Ensure we continue to meet DfE contractual obligations and maintain both EAL and Pearson assessment centre status;
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Focus on sustaining an improvement in apprenticeship completion rate;
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Improve the quality of learning underpinned by effective training officer continuous professional development (CPD);
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Continue to be active in seeking to increase the number of apprenticeships and new employers through proactive business development supported with quality candidate attraction; and
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Work on the curriculumdesign to ensure delivery meets or exceed both employer and apprentice need
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and expectations.
The achievement of our strategic objectives will seek to safeguard effective, high quality subcontracted delivery along with our currently embedded proactive account management system across all business functions.
The trustees are currently reviewing the management structure to ensure that the charity has the right leadership to continue to deliver its charitable objective whilst ensuring it can continue for the long term future.
Risk Management
Trustees consider on a regular basis the potential risks that the company may be exposed to and ensure the system currently in place will mitigate that risk.
Cash flow is monitored each month with comparisons against the projected budget, with a financial report presented to the board each quarter.
The principal risks are the continuity of funding from the DfE to continue training apprentices and maintaining the value of quoted investments held with Rathbones.
Other risks are reviewed on a regular basis, and include competitive risks, pressures from other training providers, changes to government funding levels, Ofsted inspection framework and potential political changes.
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An inadequate DfE inspection and subsequent loss or withdrawal of DfE contracts.
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Adapting to changes with the DfE apprenticeship levy.
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Continual alignment to DfE subcontracting rules and regulations and the successful retention of the subcontracting cap exemption status.
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Removal of the charity from the DfE Register of Apprenticeship Training Providers (RoATP)
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The loss of approval as an assessment centre for EAL and/or Pearson, all of which would render the business unable to deliver engineering manufacturing and business & administration apprenticeships.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Trustees' report (continued) Year ended 31 July 2025
To mitigate these risks and to ensure the quality and financial performance of the organisation does not give cause for concern should the loss or withdrawal of these DfE contracts; RoATP and/or approval centre status occur, there are a number of policies, systems and procedures in place, which include:
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Internal quality system designed in accordance with DfE, Ofsted, EAL and Pearson requirements; • Board approved strategic and operational business objectives;
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A sound financial base, exercising financial probity with a minimum financial ‘satisfactory’ rating from the DfE;
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Continuous, close monitoring of DfE funding rule changes, contractual requirements and minimum level performance criteria along with the need to continually align its operations to Ofsted, Education Inspection Framework (EIF) requirements;
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Ensure performance figures and success rates are consistently above national averages;
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Retain and employ expert, highly qualified and committed staff who regularly undertake training and CPD activities; and
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Ensuring reports are consistent and favourable from EAL external verifier and Pearson standards verifier audits.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a company limited by guarantee and is governed by a memorandum and articles of association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity and membership of the board of trustees is governed by the articles of association. There are no restrictions in the governing documents on the operation of the charity or on its investment powers other than those imposed by charity law.
The organisation is governed by a board of directors that consists of nominated members and is responsible for the management and control of the charity and its direction of work.
Trustee Recruitment and appointment
Nominated trustees are appointed from member companies who carry out business in the engineering industry or commerce. Election is by a majority vote with and trustees are initially appointed for a 3-year term.
Prior to inviting nominees, the chair reviews the existing experience base of the current trustees to attract members with the relevant skills and knowledge of the sector.
Organisation structure
The board provide delegated authority to the Chief Executive Officer, who in turn leads the employees to successfully operate the business and set the strategic direction. During the year, the chair of the board covered the CEO position. On 1 August 2025, David Collins was appointed as the new CEO and the chair resumed normal duties as chair of the board.
Pay policy for senior staff
Staff salaries are reviewed annually by the board to ensure packages offered to staff are competitive in the marketplace.
Trustees
Trustees give their time freely throughout the year without receiving any form of financial remuneration. Any connection with the charity and any contractual relationship with a related party must be disclosed at each board meeting.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Trustees' report (continued) Year ended 31 July 2025
Disclosure of information to Auditor
Each of the trustees is aware at the time of the report is approved:
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There is no relevant audit information of which the charity auditors are unaware.
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Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Auditors
In accordance with the charity's articles, a resolution proposing that UNW LLP be reappointed as auditors to the charitable company will be present at the General Meeting and disclosed to the full board of trustees.
Approved by order of the members of the board of trustees on 20 March 2026 and signed on their behalf by:
T I Selkirk Chairman
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Statement of trustees' responsibilities Year ended 31 July 2025
The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees on 20 March 2026 and signed on its behalf by:
T I Selkirk Chairman
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Independent auditor's report to the Members of Tyne North Training Limited
Opinion
We have audited the financial statements of Tyne North Training Limited (the 'charitable company') for the year ended 31 July 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 July 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Independent auditor's report to the Members of Tyne North Training Limited (continued)
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
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the Trustees' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Independent auditor's report to the Members of Tyne North Training Limited (continued)
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
We obtain and update our understanding of the charitable company, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the company is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
Based on our understanding of the charitable company, we identified that the principal risks of non-compliance with laws and regulations related to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation, pension legislation and UK tax legislation. In addition, the charitable company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines and litigation. We considered the extent to which non-compliance with laws and regulations might have a material effect on the financial statements and we have assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Independent auditor's report to the Members of Tyne North Training Limited (continued)
We also evaluated managements’ incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to posting inappropriate journal entries to manipulate financial results, management bias in accounting estimates, as well as improper income recognition which includes fraudulent posting of journal entries to income.
Audit procedures performed by the engagement team included:
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Inquiry of management and those charged with governance regarding actual and potential litigation or claims as well as whether they have knowledge of any actual, suspected or alleged fraud;
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Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
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Reviewing meeting minutes to identify reported frauds and any potential non-compliance with laws and regulations;
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Identifying journal entries based on risk criteria and testing the identified entries to supporting documentation, in particular journal entries with unusual account combinations; and
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Challenging assumptions and judgments made by management in their significant accounting estimates and evaluating whether there was any evidence of bias by the directors that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Anne Hallowell BSc DChA FCA (Senior Statutory Auditor) for and on behalf of UNW LLP, Statutory Auditor
Chartered Accountants Newcastle upon Tyne
20 March 2026
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) Year ended 31 July 2025
| Note Income from: Charitable activities 2 Investments 3 Total income Expenditure on: Investment management costs Charitable activities 4 Total expenditure Net income/(expenditure) before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 1,463,046 7,586 1,470,632 3,446 1,466,185 1,469,631 1,001 15,935 16,936 1,058,063 16,936 1,074,999 |
Total funds 2025 £ 1,463,046 7,586 1,470,632 3,446 1,466,185 1,469,631 1,001 15,935 16,936 1,058,063 16,936 1,074,999 |
Total funds 2024 £ 1,685,359 11,877 1,697,236 4,408 1,738,601 1,743,009 (45,773) 26,932 (18,841) 1,076,904 (18,841) 1,058,063 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 17 to 28 form part of these financial statements.
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Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Balance sheet At 31 July 2025
| 2025 | 2025 | 2024 | |||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 7 | 358,084 | 340,796 | ||
| Investments | 8 | 374,620 | 357,580 | ||
| 732,704 | 698,376 | ||||
| Current assets | |||||
| Debtors | 9 | 157,576 | 135,780 | ||
| Cash at bank and in hand | 480,740 | 514,602 | |||
| 638,316 | 650,382 | ||||
| Creditors: amounts falling due within one | |||||
| year | 10 | (296,021) | (290,695) | ||
| Net current assets | 342,295 | 359,687 | |||
| Total assets less current liabilities | 1,074,999 | 1,058,063 | |||
| Total net assets | 1,074,999 | 1,058,063 | |||
| Charity funds | |||||
| Unrestricted funds | 11 | 1,074,999 | 1,058,063 | ||
| Total funds | 1,074,999 | 1,058,063 |
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees on 20 March 2026 and signed on their behalf by:
................................................ OC9286FEBAAD4CSY... T I Selkirk Chairman
Company registered number: 00992831
The notes on pages 17 to 28 form part of these financial statements.
Page 15
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Statement of cash flows Year ended 31 July 2025
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Interest and dividends received Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments Net cash (used in)/provided by investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2025 £ (12,437) 7,586 (27,906) 50,393 (51,498) (21,425) (33,862) 514,602 480,740 |
2024 £ (529,800) 11,877 - 458,559 (153,844) 316,592 (213,208) 727,810 514,602 |
|---|---|---|
The notes on pages 17 to 28 form part of these financial statements
Page 16
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
1. Accounting policies
A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgments and key sources of estimation uncertainty, is set out below.
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Tyne North Training Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared under the historical cost convention, are presented in pounds sterling and rounded to the nearest £1.
1.2 Company status
The company is a company limited by guarantee, incorporated and domiciled in United Kingdom and registered in England and Wales. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £20 per member of the company.
1.3 Going concern
The trustees have concluded that the material uncertainty that existed in prior year has been sufficiently resolved and there are no current material uncertainties about the charity's ability to continue as a going concern. The charitable company continues to have a strong level of free reserves of £ 710,203 to support the operations, a strong number of current apprentices in training with more in the pipeline for the 2025/26 academic year and the sub-contracted exemption for the 2025/26 has been granted. The trustees will apply for the 2026/2027 year exemption at the appropriate time and do not believe there are any reasonable grounds for this application to be rejected. Therefore, the trustees believe there is sufficient certainty the charity has the ability to continue as a going concern for at least 12 months from signing these financial statements.
1.4 Income
DfE income is recognised in accordance with apprenticeship funding guidance based upon the amount of progress made by the students concerned or on a straight line basis over the expected duration of the apprenticeship for each student.
Page 17
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
1. Accounting policies (continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes fees of investment managers relating to investments held for income generation.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.7 Tangible fixed assets and depreciation
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Freehold property over 50 years - Office equipment 15% straight-line
1.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.
1.9 Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Page 18
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
1. Accounting policies (continued)
1.10 Cash at bank and in hand
Cash and cash equivalents includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.12 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.13 Contingent liabilities
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or nonoccurrence of uncertain future events not wholly within the group’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.
1.14 Operating leases
Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.
1.15 Employee benefits
Short-term benefits
Short-term benefits, including other non-monetary benefits, are recognised as an expense in the period in which the service is received.
Defined contribution pension plan
The charity operates a defined contribution pension plan for its employees. Contributions are recognised as an expense when they fall due. Amounts due but not yet paid are included within creditors on the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Page 19
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
1. Accounting policies (continued)
1.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2. Income from charitable activities
| Department for Education Employer contributions Education and Skills Funding Agency Employer contributions |
Unrestricted funds 2025 £ 1,396,488 66,558 1,463,046 Unrestricted funds 2024 £ 1,656,006 29,353 1,685,359 |
Total funds 2025 £ 1,396,488 66,558 1,463,046 |
|---|---|---|
| Total funds 2024 £ 1,656,006 29,353 1,685,359 |
Page 20
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
3. Investment income
| Unrestricted funds 2025 £ Income from investments 7,476 Interest receivable 110 7,586 Unrestricted funds 2024 £ Income from investments 11,326 Interest receivable 551 11,877 |
Total funds 2025 £ 7,476 110 7,586 |
|---|---|
| Total funds 2024 £ 11,326 551 11,877 |
4. Analysis of expenditure by activities
| Provision of education and training Provision of education and training |
Activities undertaken directly 2025 £ 1,122,981 Activities undertaken directly 2024 £ 1,434,940 |
Support costs 2025 £ 343,204 Support costs 2024 £ 303,661 |
Total funds 2025 £ 1,466,185 |
|---|---|---|---|
| Total funds 2024 £ 1,738,601 |
Page 21
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
4. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Premises expenses Office costs Motor costs Bank charges Subscriptions and professional fees (including auditors' remuneration) Sundry costs Depreciation Equipment costs and repairs |
Total funds 2025 £ 30,662 30,556 26,233 70,778 1,814 140,365 21,585 10,618 10,593 343,204 |
Total funds 2024 £ 47,188 40,848 29,537 47,952 214 94,946 9,343 8,000 25,633 303,661 |
|---|---|---|
5. Auditor's remuneration
The auditor's remuneration amounts to an auditor fee of £14,300 ( 2024 - £13,000 ) , and accounting services of £15,000 (2024 - £12,000).
6. Staff costs
| Wages and salaries Social security costs Pension costs |
2025 £ 520,528 56,415 36,299 613,242 |
2024 £ 807,049 98,736 37,970 |
|---|---|---|
| 943,755 |
Page 22
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
6. Staff costs (continued)
The average number of persons employed by the company during the year was as follows:
| Provision of education and training Management |
2025 No. 10 2 12 |
2024 No. 12 1 |
|---|---|---|
| 13 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| In the band £60,001 - £70,000 | 2 | - |
| In the band £360,001 - £370,000 | - | 1 |
No expenses were reimbursed to any trustees during the year (2024: £nil). No trustees received any remuneration.
The key management personnel of the charity comprise the senior management team (as listed on page 1), with total employee benefits (including pension costs) of £169,512 (2024: £734,358). David Collins is now included as part of the key management personnel in his capacity as the new Chief Executive Officer (formally a senior training officer).
Page 23
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
7. Tangible fixed assets
| Cost At 1 August 2024 Additions At 31 July 2025 Depreciation At 1 August 2024 Charge for the year At 31 July 2025 Net book value At 31 July 2025 At 31 July 2024 |
Freehold property £ 400,000 - 400,000 59,204 8,000 67,204 332,796 340,796 |
Office equipment £ 184,816 27,906 212,722 184,816 2,618 187,434 25,288 - |
Total £ 584,816 27,906 612,722 |
|---|---|---|---|
| 244,020 10,618 254,638 |
|||
| 358,084 | |||
| 340,796 |
Page 24
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
| 8. Fixed asset investments Cost or valuation At 1 August 2024 Additions Disposals Revaluations At 31 July 2025 Net book value At 31 July 2025 At 31 July 2024 9. Debtors Due within one year Trade debtors Other debtors Prepayments and accrued income 10. Creditors: amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2025 £ 135,372 - 22,204 |
Listed investments £ 357,580 51,498 (50,394) 15,936 374,620 374,620 357,580 2024 £ 120,557 500 14,723 135,780 2024 £ 124,361 73,058 8,000 85,276 290,695 |
Listed investments £ 357,580 51,498 (50,394) 15,936 374,620 374,620 357,580 2024 £ 120,557 500 14,723 135,780 2024 £ 124,361 73,058 8,000 85,276 290,695 |
|---|---|---|---|
| 157,576 | 135,780 | ||
| 2025 £ 74,631 62,623 6,500 152,267 |
2024 £ 124,361 73,058 8,000 85,276 |
||
| 296,021 | 290,695 |
Page 25
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
11. Statement of funds
Statement of funds - current year
| Balance at 1 August 2024 £ Income £ Expenditure £ Gains/ (Losses) £ Balance at 31 July 2025 £ Unrestricted funds Designated funds Property Fund 340,796 - (8,000) - 332,796 General funds General funds 717,267 1,470,632 (1,461,631) 15,935 742,203 Total Unrestricted funds 1,058,063 1,470,632 (1,469,631) 15,935 1,074,999 The designated property fund has a balance equal to the net book value of the freehold property which enables the non-liquid reserves to be easily identifiable. Statement of funds - prior year Balance at 1 August 2023 £ Income £ Expenditure £ Gains/ (Losses) £ Balance at 31 July 2024 £ Unrestricted funds Designated funds Property Fund 348,796 - (8,000) - 340,796 General funds General Funds 728,108 1,697,236 (1,735,009) 26,932 717,267 Total Unrestricted funds 1,076,904 1,697,236 (1,743,009) 26,932 1,058,063 |
Balance at 1 August 2024 £ Income £ Expenditure £ Gains/ (Losses) £ Balance at 31 July 2025 £ Unrestricted funds Designated funds Property Fund 340,796 - (8,000) - 332,796 General funds General funds 717,267 1,470,632 (1,461,631) 15,935 742,203 Total Unrestricted funds 1,058,063 1,470,632 (1,469,631) 15,935 1,074,999 The designated property fund has a balance equal to the net book value of the freehold property which enables the non-liquid reserves to be easily identifiable. Statement of funds - prior year Balance at 1 August 2023 £ Income £ Expenditure £ Gains/ (Losses) £ Balance at 31 July 2024 £ Unrestricted funds Designated funds Property Fund 348,796 - (8,000) - 340,796 General funds General Funds 728,108 1,697,236 (1,735,009) 26,932 717,267 Total Unrestricted funds 1,076,904 1,697,236 (1,743,009) 26,932 1,058,063 |
|---|---|
| Unrestricted funds Designated funds Property Fund General funds General Funds Total Unrestricted funds |
|
| 717,267 | |
| 1,058,063 |
The designated property fund has a balance equal to the net book value of the freehold property which enables the non-liquid reserves to be easily identifiable.
Page 26
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
12. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Gains on investments Dividends and interest from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash used in operating activities Analysis of cash and cash equivalents Cash in hand |
2025 £ 16,936 10,618 (15,935) (7,586) (21,796) 5,326 (12,437) 2025 £ 480,740 |
2024 £ (18,841) 8,000 (26,932) (11,877) 58,897 (539,047) (529,800) 2024 £ 514,602 |
|---|---|---|
13. Analysis of cash and cash equivalents
14. Analysis of changes in net debt
| At | 1 August | At 31 July | ||
|---|---|---|---|---|
| 2024 | Cash flows | 2025 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 514,602 | (33,862) | 480,740 |
15. Contingent liabilities
During the year, a legal claim was brought against the charity which relates to periods up to and including the year ended 31 July 2025. The board are seeking appropriate legal advice and at this current time, the amount of the liability, if any, and subsequent timing of settlement, is extremely uncertain and therefore no amount can be reliably estimated.
Page 27
Docusign Envelope ID: 6325D972-2EAA-4ECE-A803-9DA61FC2F419
Tyne North Training Limited
(A company limited by guarantee)
Notes to the financial statements Year ended 31 July 2025
16. Pension commitments
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charitable company which amounted to £36,299 (2024: £37,790).
There are also amounts owing at the year end of £63,825 (2024: £66,161) within creditors which include the outstanding pension contribution in relation to the settlement agreement.
17. Operating lease commitments
At 31 July 2025 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2025 £ 42,838 62,950 105,788 |
2024 £ 28,116 - |
|---|---|---|
| 28,116 |
18. Related party transactions
There have been no related party transactions in the reporting period.
Page 28