2022-03-31-accounts - Warrington Training Trust Limited

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			Page
Report ofthe Trustees		1	to	5
Independent Examiner's	Report
Statement ofFinancial Activities
Balance Sheet		8	to	9
Cash Flow Statement			10
Notes to the Cash Flow	Statement
Notes to the Financial Statements		12	to	25
Detailed Statement ofFinancial Activities		26	to	27

					31.3.22	31.3.21
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies			565		565	763
Other trading activities			135,022		135,022	100,491
Investment income			363,534		363,534	346,943
Other income			6,781		6,781	29,111
Total			505,902		505,902	477,308
EXPENDITURE ON
Raising funds			47,794		47,794	37,433
Charitable activities
Concessionary rents given			10,650		10,650	10,466
Donations ofequipment						4,898
Other			415,048		415,048	428,275
Total			473,492		473,492	481,072
Net gains on investments				6,135	6,135	10,916
NET INCOME			32,410	6,135	38,545	7,152
Transfers between funds		21	(10,916)	10,916
Other recognised gains/(losses)
Actuarial gains/(losses)	on defined benefit
schemes						(22,345)
Net movement in funds			21,494	17,051	38,545	(15,193)
RECONCILIATION	OF FUNDS
Total funds brought forward			870,271	397,276	1,267,547	1,282,740
TOTAL FUNDS CARRIED FORWARD			891,765	414,327	1,306,092	1,267,547

		31M	arch 2022
					31.3.22	31.3.21
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes
FIXEDASSETS
Investments
Investments		14		55,511	55,511	48,176
Investment property		15	1,795,704	343,087	2,138,791	2,138,791
			1,795,704	398,598	2,194,302	2,186,967
CURRENT ASSETS
Debtors		16	76,347		76,347	85,374
Cash at bank and in hand			69,313	15,729	85,042	73,258
			145,660	15,729	161,389	158,632
CREDITORS
Amounts falling due within	one year	17	(252,645)		(252,645)	(214,931)
NET CURRENT ASSETS			(106,985)	15,729	(91,256)	(56,299)
TOTAL ASSETSLESSCURRENT
LIABILITIES			1,688,719	414,327	2,103,046	2,130,668
CREDITORS
Amounts falling due after more than one year		18	(732,954)		(732,954)	(799,121)
PENSION LIABILITY		22	(64,000)		(64,000)	(64,000)
NET ASSETS			891,765	414,327	1,306,092	1,267,547
FUNDS		21
Unrestricted funds					891,765	870,271
Restricted funds					414,327	397,276
TOTAL FUNDS					1,306,092	1,267,547

						Cash Flow Statement
					for the	Year Ended 31March	2022
							31.3.22	31.3.21
					Notes
Cash flows from	operating		activities
Cash generated from operations							112,559	(29,516)
Interest paid							(35,926)	(33,606)
Net cash provided	by/(used		in) operating		activities		76,633	(63,122)
Cash flows from	investing		activities
Purchase offixed	asset investments						(1,200)	(1,200)
Interest received							7
Net cash used in	investing	activities					(1,193)	(1,200)
Cash flows from	financing		activities
New loans in year								156,885
Loan repayments	in year						(63,656)	(80,599)
Pension payments								22,345
Net cash (used in)/provided			by financing		activities		(63,656)	98,631
Change in cash and cash		equivalents		in the
reporting period							11,784	34,309
Cash and cash equivalents			at the beginning
ofthe reporting	period						73,258	38,949
Cash and cash equivalents			at the end	ofthe
reporting period							85,042	73,258

RECONCILIATION	RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM	OF NET INCOME TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
				31.3.22	31.3.21
Net income for the	reporting		period (as per the Statement ofFinancial
Activities)				38,545	7,152
Adjustments for:
Gain on investments				(6,135)	(10,916)
Interest received				(7)
Interest paid				35,926	33,606
Decrease/(increase)	in	debtors		9,027	(12,574)
Increase/(decrease)	in	creditors		35,203	(46,784)
Net cash provided	by/(used		in) operations	112,559	(29,516)

ANALYSIS OF CHAN	GES IN NET DEBT
		At 1.4.21	Cash flow	At 31.3.22
Net cash
Cash at bank and in hand		73,258	11,784	85,042
		73,258	11,784	85,042
Debt
Debts falling due within	I year	(67,644)	(2,511)	(70,155)
Debts falling due after I	year	(799,121)	66,167	(732,954)
		(866,765)	63,656	(803,109)
Total		(793,507)	75,440	(718,067)

DONATIONS	AND LEGACIES
		31.3.22	31.3.21
Other income		565	763
OTHER TRADING ACTIVITIES
		31.3.22	31.3.21
CafU income		26,145	7,453
Photocopying	recharge	215	204
Other rental income		23,599	16,549
Post recharge		9,255	8,057
Electricity recharge		24,935	20,376
Water recharge		17,500	16,426
Insurance recharge		33,373	31,426
		135,022	100,491

				Notes to the Financial Statements	Notes to the Financial Statements	- continued
					for the Year Ended 31March	2022
4.	INVESTMENT INCOME
							31.3.22	31.3.21
	Rents received						363,527	346,943
	Deposit account interest						7
							363,534	346,943
5.	RAISING FUNDS
	Other trading	activities
							31.3.22	31.3.21
	Purchases						12,756	4,073
	Staffcosts						29,035	33,360
	Support costs						6,003
							47,794	37,433
6.	CHARITABLE A.CTIVITIES COSTS
								Grant
								funding of
								activities
								(see note
								7)
	Concessionary	rents given						10,650
7.	GRANTSPAYABLE
							31.3.22	31.3.21
	Concessionary	rents given					10,650	10,466
	The total grants	paid to	institutions		during the year was as follows:
							31.3.22	31.3.21
	Start up concessionary		rents	given			10,650	10,466

fo	r the Year Ended 31March	2022
SUPPORT COSTS			Governance
	Management	Finance	costs	Totals
Other trading activities	6,003			6,003
Other resources expended	410,714	1,789	2,545	415,048
	416,717	1,789	2,545	421,051

						31.3.22	31.3.21
	Other operating leases					8,691	5,669
	Covid Job Retention Scheme						29,111
	Independent examiner's	fee				2,500	2,700
11.	TRUSTEES' REMUNERATION			AND BENEFITS
						31.3.22	31.3.21
	Trustees' salaries					52,620	53,003
	Trustees' social security					3,827	3,770
	Trustees' pension contributions		to	money purchase	schemes	3,093	2,988
						59,540	59,761

STAFF COSTS
			31.3.22	31.3.21
Wages and salaries			]05,531	109,406
Social security costs			6,197	6,299
Other pension costs			5,006	4,964
			116,734	120,669
The average monthly	number ofemployees	during the year was as follows:
			31.3.22	31.3.21
Management			1	1
Administrative			1	1
Cafe staff			2	2

TANGIBLE FIXEDASSETS
	Fixtures
	and	Computer
	fittings	equipment	Totals
COST
At 1 April 2021 and 31March 2022	10,337	14,589	24,926
DEPRECIATION
At 1 April 2021 and 31March 2022	10,337	14,589	24,926
NET BOOKVALUE
At 31March 2022
At 31March 2021

	Notes to the Finan for the Year	Notes to the Finan for the Year	cial Statements -continued Ended 31March 2022
14.	FIXED A.SSETINVESTMENTS
				Unlisted
				investments
	MARKET VALUE
	At I April 2021			48,176
	Additions			1,200
	Revaluations			6,135
	At 31March 2022			55,511
	NET BOOKVALUE
	At 31 March 2022			55,511
	At 31 March 2021			48,176
	There were no investment	assets outside the UK.
	Cost or valuation at 31March 2022 is represented		by:
				Unlisted
				investments
	Valuation in 2022			55,511
15.	INVESTMENT PROPERTY
	FAIR VALUE
	At I April 2021
	and 31March 2022			2,138,791
	NET BOOKVALUE
	At 31 March 2022			2,138,791
	At 31 March 2021			2,138,791

		Notes to the Financial Statements - continued for the Year Ended 31March 2022	Notes to the Financial Statements - continued for the Year Ended 31March 2022
16.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEA.R
					31.3.22	31.3.21
	Trade debtors				32,662	35,089
	Prepayments and accrued	income			43,685	50,285
					76,347	85,374
17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE		YEAR
					31.3.22	31.3.21
	Bank loans and overdrafts	(see note 19)			70,155	67,644
	Trade creditors				93,084	63,706
	Social security and other taxes				3,624	717
	VAT				14,374	15,531
	Other creditors				44,280	42,075
	Accruals and deferred income				27,128	25,258
					252,645	214,931
18.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE		THAN ONE	YEAR
					31.3.22	31.3.21
	Bank loans (see note 19)				732,954	799,121
	The bank loan carries interest at 3.00%above base and is charged		on a monthly	basis.
19.	LOANS
	An analysis ofthe maturity	ofloans is given below:
					31.3.22	31.3.21
	Amounts falling due within	one year on demand:
	Bank!oans				70,155	67,644
	Amounts falling between one and two years:
	Bank loans - 1-2years				72,311	70,157
	Amounts falling due between two and five years:
	Bank loans - 2-5 years				281,057	223,739
	Amounts falling due in more than five years:
	Repayable by instalments:
	Bank loans more 5 yr by instal				379,586	505,225

		31.3.22	31.3.21
Bank	loans	803,109	866,765

MOVE	MEN	T IN FUNDS
				Net	Transfers
				movement	between	At
			At 1.4.21	in funds	funds	31.3.22
Unrestricted		funds
General	fund		870,271	32,410	(10,916)	891,765
Restricted funds
Capital	fund		356,342			356,342
Training	fund		40,934	6,135	10,916	57,985
			397,276	6,135	10,916	414,327
TOTALFUNDS			1,267,547	38,545		1,306,092

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted		funds
General	fund		505,902	(473,492)		32,410
Restricted funds
Training	fund				6,135	6,135
TOTAL	FUNDS		505,902	(473,492)	6,135	38,545

			Net
			movement	At
		At 1.4.20	in funds	31.3.21
Unrestricted	funds
General fund		885,464	(15,193)	870,271
Restricted funds
Capital fund		356,342		356,342
Training fund		40,934		40,934
		397,276		397,276
TOTAL FUNDS		1,282,740	(15,193)	1,267,547

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted		funds
General	fund		477,308	(481,072)	(11,429)	(15,193)
TOTAL	FUNDS		477,308	(481,072)	(11,429)	(15,193)

			Net	Transfers
			movement	between	At
		At 1.4.20	in funds	funds	31.3.22
Unrestricted	funds
General fund		885,464	17,217	(10,916)	891,765
Restricted funds
Capital fund		356,342			356,342
Training fund		40,934	6,135	10,916	57,985
		397,276	6,135	10,916	414,327
TOTAL FUNDS		1,282,740	23,352		1,306,092

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted		funds
General	fund		983,210	(954,564)	(11,429)	17,217
Restricted funds
Training	fund				6,135	6,135
TOTAL	FUNDS		983,210	(954,564)	(5,294)	23,352

Assumptions
	July 2020	July 2017
Asset Value	Market Value	Market Value
Pre retirement discount rate	2.6%	3.9%
Post retirement discount rate	0.6%	1.9%
Retail price inflation	2.8%	2.7%
Consumer price inflation	2.3%	2.2%
Pension increases in payments	3%	3%
Pension revaluation in deferment	2.3%	2.2%

Funds at Market Value		114,000
Net current assets		6,000
Total		120000
	Page 23	continued. ..

Technical	provisions
Deferred	Pensioners
Pensioners
Surplus /	(Deficit)
Funding	Level

Deferred	Pensioners						65,000
Pensioners							119,000
Surplus	/ (Deficit)						(64000)
Funding	Level						65%
Analysis	ofthe movement		in	the	benefit net asset during the period
							E000s
Surplus	/ (shortfall)	at previous		valuation			(42)
Interest	on surplus/shortfall		brought		forward		(3)
Investment out performance							3
Contributions							9
Cash commutation							4
ARP write off							3
Change	in market conditions						(39)
Change	to SFP						I
Surplus	/ (shortfall)	at present		valuation		on sample assumption	64.0

	Detailed Statement ofFinancial Activities
	for the Year Ended 31March 2022
		31.3.22	31.3.21
INCOME AND ENDOWMENTS
Donations and legacies
Other income		565	763
Other trading activities
CafU income		26,145	7,453
Photocopying recharge		215	204
Other rental income		23,599	16,549
Post recharge		9,255	8,057
Electricity recharge		24,935	20,376
Water recharge		17,500	16,426
Insurance recharge		33,373	31,426
		135,022	100,491
Investment income
Rents received		363,527	346,943
Deposit account interest		7
		363,534	346,943
Other income
Job retention scheme income		6,781	29,111
Total incoming resources		505,902	477,308
EXPENDITURE
Other trading activities
CafU —food costs		12,756	4,073
Wages		27,696	31,637
Social security		923	1,200
Pensions		416	523
		41,791	37,433
Charitable activities
Donations			4,898
Grants to institutions		10,650	10,466
		10,650	15,364

			Detailed Statement ofFinancial Activities
			for the Year Ended 31March 2022
				31.3.22	31.3.21
Support costs
Management
Trustees' salaries				52,620	53,003
Trustees' social security				3,827	3,770
Trustees' pension contributions				3,093	2,988
Trustees' expenses				1,035
Wages				25,215	24,766
Social security				1,447	1,329
Pensions				1,497	1,453
Other operating leases				8,691	5,669
Rates and water				33,452	46,377
Insurance				16,147	15,518
Light and heat				70,545	60,881
Telephone				1,419	1,251
Postage and stationery				11,465	10,484
Advertising				847	1,405
Repairs and maintenance				67,300	53,753
Cleaning				24,324	19,778
Bad debt write-off				39,867	9,090
Bank loan interest				25,803	25,462
Pension Fund fees				10,123	8,144
Exceptional items				18,000	77,774
				416,717	422,895
Finance
Bank charges				1,789	2,622
Governance costs
Independent examiners		fee		2,500	2,700
Legal fees				45	58
				2,545	2,758
Total resources expended				473,492	481,072
Net income/(expenditure)		before gains	and
losses				32,410	(3,764)
Realised recognised	gains and losses
Realised gains/(losses)	on	fixed asset investments		6,135	10,916
Net income				38,545	7,152