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||||FINANCIAL STATEMENTS||
|---|---|---|---|---|
|||FOR|THE YEAR ENDED 31August 2021||
|CONTENTS|||||
|Charity Reference and Administrative
Details
Trustees'
Annual
Report (Including
Directors' Report and Strategic
Report)||||Page
2
3|
|Independent
Auditor's
Statement of Financial
Account|Report
Activities (Including
Income and Expenditure|||10
15|
|Balance Sheet|||||
|Statement ofCash Flows||||16|
|Notes to the Financial|Statements|||17
18to 28|
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|Mr David Bartell||
|---|---|
|Mr lan Scurfield||
|Mrs Gill Usher —resigned 01/10/21||
|Mr Stephen
Clelland||
|Mr Andrew
Ramsey —appointed|08/01/21|
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||Notes|2021|2020|
|---|---|---|---|
|Income and endowment
from||f|f|
|Donations
and legacies||0,106|41,578|
|Charitable
activities
Other trading activities
Investments
Other income||1,2 0,451
210
4,749
91|1,058,693
445
5,823|
|Total income and endowments
~Edit||1,3 5,607|1,106,539|
|Investment
management
fees
Charitable
activities
Other —exceptional
item
Total Expenditure
Net gains/(losses)
on investments|7
8
12
13|2,164
1,1 3,369
996
1,1 6,529
4,989|2,238
1,063,277
34,094
1,099,609
(5,864)|
|Net income/(expenditure)
and net
movement
in funds for the year||1,067|1,066|
|Reconciliation offunds||||
|Total Funds brought
forward
Total funds carried forward||79,409
99,476|795,343
796,409|
|Cash flow for the year ended 31August 2021||||
|---|---|---|---|
||Not|2021|2020|
|Cash flow from operating activities|23|E
154,563|f
36,303|
|Cash flows from investing activities||||
|Payments
to acquire investments
Receipts from sale ofinvestments
Payments to acquire tangible
fixed assets
Receipts from sale oftangible
fixed assets||(70,512)
71,498
(36,713)
91|(183,827)
183,280
(44,314)|
|Interest received||||
|||137|128|
|Dividends
received||||
|Net cash provided
by investing
activities
Cash flows from financing activities||4,612
(30,887)|5,695
(39,038)|
|Interest paid||||
|Net cash outflow from financing||||
|Net Increase/(Decrease)
in cash and cash equivalents
Cash and cash equivalents
at 1September 2020
Cash and cash equivalents
at 31August 2021||123,676
93,197
216,873|(2,735)
95,932
93,197|
|Cash and cash equivalents
consist of||||
|Cash in hand||||
|||231|147|
|Cash held within
investment
portfolio
Notice deposit (less than 3months)
Cash and cash equivalents
at 31August 2021||11,944
204,698
216,873|8,373
84,677
93,197|
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|Sunderland|Sunderland|Engineering
Training Association|Engineering
Training Association|Engineering
Training Association|Engineering
Training Association|Limited|Limited|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Notes tothe accounts for the|||year|ended 31August 2021||||||||
|Summary||ofsignificant
accounting||policies||(continued)||||||
|1o.|Taxation|||||||||||
|The charity||isan exempt charity|within the meaning||||ofschedule 3of|the Charities Act 2011and isconsidered||||
|to pass the||tests set out in Paragraph||1Schedule 6|||Finance Act 201|and therefore|it meets the definition||of|
|a charitable||company for UK corporation|||tax purposes.|||||||
|2.|Grants|||||||||||
|||||||||2021||2020||
||||||||||g|g||
||JRSgrants re furlough||scheme|||||18,240||41,578||
||Apprentice
funding grant for own staff|||||||2,000||||
||Kickstart grants|||||||9,866||||
|||||||||30,106||41,578||
|3.|Income from charitable||activities|||||||||
|||||||||2021||2020||
|||||||||f||||
|||Apprentice
training||||||1,164,288||933,621||
|||Commercial
training||||||126,163||125,072||
|||||||||1,290,451||1,058,693||
|||Employer
co-funding||fees||have|been|||||
|||reclassified as apprentice||training||rather|than|||||
|||commercial
training|to more accurately
reflect|||||||||
|||the facts.
The prior|year|comparatives|||have|||||
|||been restated.||||||||||
|4.|Income from other trading activities|||||||||||
|||||||||2021||2020||
||||||||||E|f||
||Sale ofboots and overalls|||||||||445||
||Other|||||||210||||
|||||||||210||445||
|Sunderland|Sunderland|Engineering|Engineering|Training||Association|Association||Limited||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Notes|tothe accounts|||for the year ended 31August 2021|||||||||
|S.|Income from||investments||||||||||
||||||||||||2021|2020|
|||||||||||||6|
|||Income from listed|||investments|||—Dividends|||4,612|5,695|
|||Interest receivable|||||||||137|128|
||||||||||||4,749|5,823|
|6.|Other income||||||||||||
||||||||||||2021|2020|
||||||||||||f|E|
|||Profit on sale oftangible|||||fixed assets||||91||
||||||||||||91||
|7.|Investment
management|||||costs|||||||
||||||||||||2021|2020|
||||||||||||E|f|
|||Investment||manager||fees|||||2,164|2,238|
||||||||||||2,164|2,238|
||All the above|||costs were attributable|||||to unrestricted|fund|||
|8.|Analysis ofexpenditure||||on charitable||||activities||||
||||||||||||2021|2020|
||||||||||||E|E|
|||Charitable|activities||||||||||
|||Activities undertaken||||directly||||9|720,408|631,649|
|||Support costs||||||||1|442,961|431,628|
||||||||||||1,163,369|1,063,277|
||All|the above||costs were||attributable|||to unrestricted|fund|||
##
|Activities undertaken|Activities undertaken|directly|directly||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||E|E|
|Unrestricted|costs||||||||
|Other
costs|relating||to|Charitable||activities|||
|comprise|||||||||
|Gross wages and salaries|||||||390,531|375,370|
|Employers'
Nl|||||||37,783|35,557|
|Platten Trust|wages||||||384|378|
|Pension contributions|||||||43,507|43,975|
|Depreciation|of|assets||used|for|charitable|20,631|19,325|
|purpose|||||||||
|Materials and|consumables||||||22,779|29,176|
|Bought in services|||||||116,745|71,638|
|Safety clothing|and|cleaning|||||24,358|18,117|
|Training courses and expenses|||||||63,690|38,113|
||||||||720,408|631,649|
##
|Support costs|||||
|---|---|---|---|---|
||||2021|2020|
||||f|E|
|Governance|||4,300|4,200|
|Finance|||275|273|
|Information|technology||7,000|6,029|
|Human
Resources|||268,906|265,851|
|Depreciation|||19,096|19,314|
|Office costs|(including|rental)|109,021|100,273|
|Pension contributions|||23,477|23,546|
|Other|||10,886|12,142|
||||442,961|431,628|
|Sunderland|Sunderland|Engineering
Training|Engineering
Training|Association|Association|Limited|Limited||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Notes|to the accounts for||the year||ended 31August|||2021|||||
|11.|Governance
costs||||||||||||
||||||||||||2021|2020|
||||||||||||f|E|
|||Trustee remuneration|||and expenses||||||||
|||Consultancy|||||||||||
|||Auditor's
remuneration|||||||||4,300|4,200|
|||Other|||||||||||
||||||||||||4,300|4,200|
||All ofthe above||costs were attributable||||to|unrestricted|f|nds.|||
|12.|Exceptional
items||||||||||||
||||||||||||2021|2020|
||||||||||||E||
|||Bad debt|||||||||996|34,094|
||||||||||||996|34,094|
|13.|Net gains/(losses)||on investments||||||||||
||||||||||||2021|2020|
||||||||||||E||
|||Realised
Profit(Loss)
assets held by income||on disposal
funds||of|investment||||(1,393)|(6,276)|
|||Unrealised
(losses)/gains|||on investment|||assets|||36,382|412|
|||held by income|funds||||||||||
||||||||||||34,989|(5,864)|
|14.|Analysis
of staff costs, trustee
remuneration
personnel|||||||and expens||s and|the cost of key management||
||||||||||||2021|2020|
||||||||||||E|f|
|||Gross wages and salaries|||||||||634,830|615,803|
|||Platten Trust wages|||||||||384|378|
|||Employers'
Nl|||||||||58,084|54,843|
|||Pension contributions|||||||||66,984|67,521|
||||||||||||760,282|738,545|
||There are no other related party transactions|There are no other related party transactions|in the rep|in the rep|rting period.|||
|---|---|---|---|---|---|---|---|
|15.|Staff numbers|||||||
||The average monthly
headcount
was 23(2020:
the charity during the financial year amounted|||21)and t
to:|eaverage number ofstaff employed||by|
||||||2021|2020||
||||||f|E||
||Lecturers and training|providers|||15|13||
||Management
and admin staff||||8|8||
||||||23|21||
|16.|Net income/(expenditure)
for the year|||||||
||||||2021|2020||
||This is stated after charging:|||||||
||Auditor's
remuneration||||4,300|4,200||
||Accountancy
services provided|by the auditor|||7,061|5,880||
||Operating
leases —equipment||||4,085|3,895||
||Depreciation||||39,727|38,639||
||Loss/(profit)
on disposal oftangible fixed assets||||(91)|||
##
|Tangible Fixed Assets||||||
|---|---|---|---|---|---|
||Freehold|Plant|nd|Fixtures and|Total|
||Land and|machin|ry|fittings||
||Buildings|||||
||E|||||
|Cost||||||
|At 1September 2020|540,247|684,|27|207,745|1,432,619|
|Additions||32,|08|3,805|36,713|
|Disposals||||||
|At 31August 2021|540,247|717,|35|211,550|1,469,332|
|Depreciation||||||
|At 1September 2020|230,564|629,|8|137,657|997,769|
|Charge for year|11,855|20,|1|7,241|39,727|
|Disposals||||||
|At 31August 2021|242,419|650,1|9|144,898|1,037,496|
|Net Book Value||||||
|At 31August 2021|297,828|67,3|6|66,652|431,836|
|At 31August 2020|309,683|55,0|9|70,088|434,850|
##
||2021|2020|
|---|---|---|
||f|E|
|Market value at beginning ofyear|250,782|253,061|
|Disposals proceeds
Acquisitions
at cost|(71,498)
70,513|(183,280)
183,827|
|Cash movement
Change
in value
in the year
Market value at end ofyear|3,570
34,989
288,356|3,038
(5,864)
250,782|
|storical cost|1235,074|E228,329|
##
|Sunderland|Sunderland|Engineering
Training Association|Engineering
Training Association|Engineering
Training Association|Limited||||
|---|---|---|---|---|---|---|---|---|
|Notes|tothe accounts for the year ended|||31August||2021|||
|Fixed|asset|investments
( continued)|||||||
||Investments
at fair value compromised||||||||
||||||||2021|2020|
||||||||f|E|
|||Equities|||||155,377|122,605|
|||Asset allocation
funds|||||31,184|35,833|
|||Alternative
investments|||||11,915|10,295|
|||Fixed interest securities|||||75,448|71,187|
|||Money market investment|||||2,489|2,489|
|||Cash held within the|||||11,943|8,373|
|||investment
portfolio|||||||
||||||||288,356|250,782|
|20.|Debtors||||||||
||||||||2021|2020|
|||Amounts
falling due within one year|||||f|E|
|||Trade debtors|||||159,604|91,618|
|||Prepayments
and accrued income|||||32,974|23,058|
||||||||192,578|114,676|
|21.|Creditors - amounts
falling||due within||one year||||
||||||||2021|2020|
|||||||||f|
|||Trade creditors|||||21,613|20,726|
|||Taxation and social security|||||16,647|14,782|
|||Other creditors|||||19,862|17,789|
|||Accruals and deferred|income||||69,101|35,426|
||||||||127,223|88,723|
|22.|Obligations
under non-cancellable|||operating||leases|||
||Future
minimum
rentals||payable|under non-cancellable|||o crating leases are as follows:||
||||||||2021|2020|
||||||||E|f|
|||Within one year|||||4,594|2,272|
|||In two to five years|||||9,187||
|||In over five years|||||||
||||||||13,781|2,272|
##
|23.|Reconciliation
ofnet income /|(expenditure)|(expenditure)|to net cash fl w from operating|to net cash fl w from operating|activities|
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||f|E|
||Net income / (expenditure)
for year|/ period|||194,067|1,066|
||Dividends
received||||(4,612)|(5,695)|
||Interest received||||(137)|(128)|
||Depreciation
and impairment
oftangible||fixed assets||39,727|38,639|
||(Gains) / losses on investments||||(34,989)|5,863|
||(Profit) / loss on disposal oftangible|fixed|assets||(91)||
||(Increase) / decrease
in debtors||||(77,902)|38,566|
||Increase / (decrease)
in creditors||||38,500|(42,008)|
||Net cash flow from operating
activities||||154,563|36,303|