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2024-07-31-accounts

REGISTERED COMPANY NUMBER: 01484530 (England and Wales) REGISTERED CHARITY NUMBER: 510108

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 July 2024

for

Mid and North Wales Training Group Limited

Morgan Griffiths LLP Chartered Accountants Cross Chambers

9 High Street Newtown Powys SY16 2NY

Mid and North Wales Training Group Limited

Contents of the Financial Statements for the Year Ended 31 July 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 18
Detailed Statement of Financial Activities 19 to 20

Mid and North Wales Training Group Limited

Reference and Administrative Details for the Year Ended 31 July 2024

TRUSTEES R Benyon
C R Gilliard
B N Murray
Ms P A Evans
J A Bebb
M D Mills
P J Webber
COMPANY SECRETARY J Engleheart
REGISTERED OFFICE Myrick House
Hendomen
Montgomery
Powys
SY15 6EZ
REGISTERED COMPANY 01484530 (England and Wales)
NUMBER
REGISTERED CHARITY 510108
NUMBER
INDEPENDENT EXAMINER Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY
SENIOR MANAGEMENT N Jones
A Ellis

Page 1

Mid and North Wales Training Group Limited

Report of the Trustees for the Year Ended 31 July 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's object and principal activity continues to be that of the advancement of theoretical and practical education and training of persons engaged in industry and commerce.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning their future activities.

The charity offers the building free of charge for public events for the local community and public bodies.

The charity offers free courses, wherever possible, to learners undertaking Frameworks as part of their Apprenticeships. These are offered commercially to other learners. An example of these free courses are First Aid at Work and Health and Safety training.

The building and computer assets are also available to learners whenever the need requires e.g. when a learner cannot afford a computer for his work.

Page 2

Mid and North Wales Training Group Limited

Report of the Trustees for the Year Ended 31 July 2024

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The company has sustained its position as a provider to 2 main contractors and has satisfied and succeeded all quality and quantity targets set by the contractor and Welsh Government for attainment rates in apprenticeship delivery.

We have achieved Programme Success for 23/24 for SAW of 86% and Coleg Cambria of 84%. Timely success rate for SAW at 28½% and Coleg Cambria at 48%.

Apprentices have progressed from level 2 to 3, and 3 to 4 in both engineering and management disciplines.

All awarding body certification has been held in place and the company is rated as a low risk centre. Cyber Essentials and Cyber Essentials Plus accreditation was retained.

Policies and procedures were updated in January 2024.

We have attended Careers events at Powys High Schools, Powys Colleges and at Careers Wales events (including in Ceredigion).

We have supported Llanfyllin High School with IQA support and guidance for their EAL qualification delivery carried out at the school.

We have further developed qualification portfolios in L2 Warehousing & Storage, and L2 and L3 Business Improvement Techniques (BIT).

Free defibrillator training has been provided to a number of local communities. Myrick's own defibrillator is available for public use and remains located outside the Myrick building.

Green Dragon L2 Environmental Standard retained.

Additional 5% cost of living rise received from Welsh Government for Work-Based Learning.

Our Investor in People (IiP) Standard has been retained.

Supported MWMG running events at schools and companies during Wales Apprenticeship week. We have supported Newtown High School at their year 6 transition days where they welcome future new pupils to the school by providing STEM activities.

Wales 'Have A Go' STEM kits have been successfully applied for and received (as the 'Have A Go' programme is no longer funded). The STEM kits include LEGO mindstorm and electronic building kits.

Solar Panels fitted onto roof of Myrick House and 400mm deep insulation fitted throughout the building roof space (grant funded).

FINANCIAL REVIEW

Financial position

The Statement of Financial Activities shows a net surplus from ordinary activities for the year of £49,140 (2023 deficit of £969) and reserves now stand at £482,841 (2023 £433,701).

The charity's funds have all been applied in accordance with its objectives and the charity's assets are all being maintained in the furtherance of these objectives.

Principal funding sources

The principal funding source for the charity is income generated from training activities.

Page 3

Mid and North Wales Training Group Limited

Report of the Trustees for the Year Ended 31 July 2024

FINANCIAL REVIEW

Investment policy and objectives

Under the memorandum and articles of association, the charity has the power to make investments which the trustees see fit. The assets of the charity are available and adequate to meet its obligations for the foreseeable future.

Reserves policy

The trustees and directors have established a policy whereby the unrestricted funds not committed or invested in tangible or intangible fixed assets (i.e free reserves) held by the charity should be equivalent to six month operating costs.

Free reserves which equate to net assets (excluding restricted funds) amount to £218,147 (2023 £174,923).

The Financial Risk Management policy is reviewed annually and the level of reserves is reviewed by the trustees on an ongoing basis.

FUTURE PLANS

To retain and increase our sub-contract provision with our 2 existing providers for the new Work-Based Learning contract term. Including working with our contractors to understand and maximise the new scope of MEDR who will control all post-16 education within Wales from August.

To further improve the success rates of learners achieving, and improve the rate of learners completing on or before their expected end dates.

Embed the relationship between both organisations to support companies in the region. This includes continuing the delivery of Teaching Assistant (TA) Mathematics training throughout Powys, including ongoing online training to TA's in Sharepoint/Outlook/Excel/Word and Powerpoint.

To develop our STEM delivery using the 'Have A Go' kits and continue to provide this to local schools.

To further improve the building efficiency by installing LED lighting throughout Myrick House, utilising the recently installed solar panels.

To provide ongoing defibrillator training and support to local community groups.

To plan for future staff retirements, ensuring smooth handover to new assessor(s).

Train an additional IQA.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

This charity is also known as 'Myrick Training Services'.

Recruitment and appointment of new trustees

The Board has the power to appoint additional trustees as it considers fit to do so. All directors of the company are also trustees of the charity and there are no other trustees. All of the trustees named above served throughout the year unless appointed or resigned as shown.

Organisational structure

The charity is organised so that the trustees meet regularly to manage its affairs. There are ten full time or part time employees who manage the day to day administration for the charity, and organised the various educational and training courses operated during the year.

Page 4

Mid and North Wales Training Group Limited

Report of the Trustees for the Year Ended 31 July 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Induction and training of new trustees

The familiarisation of new trustees with the charity and the context within which it works takes the form of:

Related parties

Since March 2021 the Charity has been the sole member, and thus controlling party, of Mid Wales Manufacturing Group Ltd (MWMG).

MWMG is a not-for-profit company limited by guarantee, founded in 1994 with objects including promoting the manufacturing industry in Wales, improving the success, quality, profitability and efficiency in manufacturers in Wales and promoting and enhancing the education, training and skills of persons in Wales.

The two organisations' close cooperation includes the sharing of skills, resources, knowledge and joint ventures to the mutual benefit of both parties, in ways that are deemed by the Trustees to be beneficial to the Charity in furtherance of its objects.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 8 April 2025 and signed on its behalf by:

B N Murray - Trustee

Page 5

Independent Examiner's Report to the Trustees of Mid and North Wales Training Group Limited

Independent examiner's report to the trustees of Mid and North Wales Training Group Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Thomas Landers BA FCA

Morgan Griffiths LLP Chartered Accountants Cross Chambers 9 High Street Newtown Powys SY16 2NY

8 April 2025

Page 6

Mid and North Wales Training Group Limited

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 July 2024

Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
3
Training
Investment income
2
Other income
Total
EXPENDITURE ON
Charitable activities
4
Training
NET INCOME/(EXPENDITURE)
Transfers between funds
18
Other recognised gains/(losses)
Gains on revaluation of fixed assets
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
429,614
1,124
3,360
434,098
392,627
41,471
7,669
-
49,140
433,701
482,841		 Restricted
funds
£
10,204
-
-
10,204
2,535
7,669
(7,669)
-
-
-
-		 31.7.24
Total
funds
£
439,818
1,124
3,360
444,302
395,162
49,140
-
-
49,140
433,701
482,841		 31.7.23
Total
funds
£
341,657
605
3,531
345,793
346,762
(969)
-
88,925
87,956
345,745
433,701

The notes form part of these financial statements

Page 7

Mid and North Wales Training Group Limited

Balance Sheet 31 July 2024

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
18
Unrestricted funds
TOTAL FUNDS		 31.7.24
£
264,694
-
264,694
46,058
223,548
269,606
(48,299)
221,307
486,001
(3,160)
482,841
482,841
482,841		 31.7.23
£
258,778
-
258,778
31,686
216,765
248,451
(67,877)
180,574
439,352
(5,651)
433,701
433,701
433,701

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 8

continued...

Balance Sheet - continued 31 July 2024

Mid and North Wales Training Group Limited

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 8 April 2025 and were signed on its behalf by:

B N Murray - Trustee

The notes form part of these financial statements

Page 9

Mid and North Wales Training Group Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Preparation of consolidated financial statements

The financial statements contain information about Mid and North Wales Training Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Interest receivable

Interest on funds held on deposit in included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Support costs have been apportioned to the activity - 'Training' in full.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance Motor vehicles - 20% on cost Computer equipment - 25% on reducing balance

No depreciation is provided on freehold land.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Page 10

continued...

Mid and North Wales Training Group Limited

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investment in subsidiaries

Investment in subsidiaries are recorded at cost less impairment.

2. INVESTMENT INCOME

Deposit account interest
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Training
Training Income
Training
Courses
Training
Grants received, included in the above, are as follows:
Ecodyfi Wales		 31.7.24
£
1,124
31.7.24
£
10,204
355,942
73,672
439,818
31.7.24
£
10,204		 31.7.23
£
605
31.7.23
£
-
258,428
83,229
341,657
31.7.23
£
-

Page 11

continued...

Mid and North Wales Training Group Limited

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

4.
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 5)
£
Training
353,088
5.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Telephone
Stationery & Advertising
External Training Costs
Seminars & Staff Training
Travelling Expenses
Motor Servicing & Repairs
Postage
Motor Licence & Insurance
Subscriptions
6.
SUPPORT COSTS
Management
£
Training
34,828
Support costs, included in the above, are as follows:
Rates and water
Insurance
Light, heat & cleaning
Sundries
Renewal & Maintenance Expenses
Computer software and support
Depreciation of tangible and heritage
assets
Interest payable and similar charges
Accountancy fees
Legal & professional fees
Independent examination fees		 Support
costs (see
note 6)
£
42,074
31.7.24
£
193,152
4,306
6,848
135,257
1,587
1,575
6,429
199
2,177
1,558
353,088
Governance
costs
£
7,246
31.7.24
Training
£
1,709
4,215
7,090
2,104
6,241
10,781
2,195
493
2,606
3,230
1,410
42,074		 Totals
£
395,162		 Totals
£
395,162
31.7.23
£
191,526
4,484
3,163
102,448
-
970
6,630
75
1,538
1,475
312,309
Totals
£
42,074
31.7.23
Total
activities
£
1,527
3,036
4,970
1,598
3,664
7,532
2,327
788
3,110
4,581
1,320
34,453

Page 12

continued...

Mid and North Wales Training Group Limited

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.7.24 31.7.23
£ £
Depreciation - owned assets 2,194 2,327

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.

9. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 31.7.24
£
178,974
8,524
5,654
193,152		 31.7.23
£
178,546
7,451
5,529
191,526

The average monthly number of employees during the year was as follows:

Direct charitable
Administration		 31.7.24
7
2
9		 31.7.23
8
2
10

The charity considers its key management personnel comprise the senior management listed on page 1. The total employment benefits including employer pension contributions of the key management personnel for the year ended 31 July 2024 were £73,192 (2023 £73,845).

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Charitable activities
Training
Investment income
Other income
Total		 Unrestricted
funds
£
341,657
605
3,531
345,793		 Restricted
funds
£
-
-
-
-		 Total
funds
£
341,657
605
3,531
345,793

EXPENDITURE ON

Page 13

continued...

Mid and North Wales Training Group Limited

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Charitable activities
Training
346,762
-
NET INCOME/(EXPENDITURE)
(969)
-
Other recognised gains/(losses)
Gains on revaluation of fixed assets
88,925
-
Net movement in funds
87,956
-
RECONCILIATION OF FUNDS
Total funds brought forward
345,745
-
TOTAL FUNDS CARRIED FORWARD
433,701
-
11.
TANGIBLE FIXED ASSETS
Improvements
Freehold
to
property
property
£
£
COST OR VALUATION
At 1 August 2023
247,000
3,000
Additions
-
8,110
At 31 July 2024
247,000
11,110
DEPRECIATION
At 1 August 2023
-
-
Charge for year
-
-
At 31 July 2024
-
-
NET BOOK VALUE
At 31 July 2024
247,000
11,110
At 31 July 2023
247,000
3,000		 Total
funds
£
346,762
(969)
88,925
87,956
345,745
433,701
Fixtures
and
fittings
£
34,450
-
34,450
33,134
329
33,463
987
1,316

Page 14

continued...

Mid and North Wales Training Group Limited

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

11. TANGIBLE FIXED ASSETS - continued

COST OR VALUATION
At 1 August 2023
Additions
At 31 July 2024
DEPRECIATION
At 1 August 2023
Charge for year
At 31 July 2024
NET BOOK VALUE
At 31 July 2024
At 31 July 2023		 Motor
vehicles
£
24,720
-
24,720
24,720
-
24,720
-
-		 Computer
equipment
£
85,973
-
85,973
78,511
1,865
80,376
5,597
7,462		 Totals
£
395,143
8,110
403,253
136,365
2,194
138,559
264,694
258,778

The freehold property was valued by Morris Marshall And Poole, Chartered Surveyors, on an open market basis on the 29th November 2023 for £250,000. The historical cost is £57,650. The property is maintained to the highest standard and therefore the freehold property is not being depreciated.

12. FIXED ASSET INVESTMENTS

The charity controls Mid Wales Manufacturing Group Limited, a company limited by guarantee. Its results and financial position are as follows:

Year ended
31.7.24		 Year ended
31.7.23
£ £
Income statement
Income 304,320 228,334
Expenditure -259,078 -169,417
Tax on surplus -2,819 -
Surplus for the period 42,423 58,917
Balance sheet
Assets 274,014 227,450
Liabilities -70,074 -65,933
Reserves 203,940 161,517

This company holds shares in Myrick Training Services Limited, a dormant company that has not traded since 31st March 1997.

Page 15

continued...

Mid and North Wales Training Group Limited

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 16)
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
Amounts falling between one and two years:
Other loans - 1-2 years
Amounts falling due between two and five years:
Other loans - 2-5 years		 31.7.24
£
32,635
13,423
46,058
31.7.24
£
2,629
9,539
2,658
-
33,473
48,299
31.7.24
£
3,160
31.7.24
£
2,629
2,629
531		 31.7.23
£
30,337
1,349		 31.7.23
£
30,337
1,349
31,686
31.7.23
£
2,629
4,083
1,617
13,698
45,850
67,877
31.7.23
£
5,651
31.7.23
£
2,629
2,629
3,022
2,629
3,022

On the 26th April 2023 the second loan from WCVA was paid off in full before the scheduled repayments were due.

Page 16

continued...

Mid and North Wales Training Group Limited

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
funds
£
Fixed assets
264,694
Current assets
269,606
Current liabilities
(48,299)
Long term liabilities
(3,160)
482,841
18.
MOVEMENT IN FUNDS
At 1.8.23
£
Unrestricted funds
General fund
433,701
Restricted funds
Ecodyfi
-
TOTAL FUNDS
433,701
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Ecodyfi
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
Net
movement
in funds
£
41,471
7,669
49,140
Incoming
resources
£
434,098
10,204
444,302
At 1.8.22
£
345,745
345,745		 31.7.24
Total
funds
£
264,694
269,606
(48,299)
(3,160)
482,841
Transfers
between
funds
£
7,669
(7,669)
-
Resources
expended
£
(392,627)
(2,535)
(395,162)
Net
movement
in funds
£
87,956
87,956		 31.7.23
Total
funds
£
258,778
248,451
(67,877)
(5,651)
433,701
At
31.7.24
£
482,841
-
482,841
Movement
in funds
£
41,471
7,669
49,140
At
31.7.23
£
433,701
433,701

Page 17

continued...

Mid and North Wales Training Group Limited

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
345,793
345,793		 Resources
expended
£
(346,762)
(346,762)		 Gains and
losses
£
88,925
88,925		 Movement
in funds
£
87,956
87,956

19. EMPLOYEE BENEFIT OBLIGATIONS

During the year £5,653 (2023 £7,451) was charged to pension contributions. At the year end no amounts were outstanding (2023 nil).

20. RELATED PARTY DISCLOSURES

During the year Myrick Training Services provided training workshops for Mid Wales Manufacturing Group in various numeracy courses along with course accreditation, guidance & verification to the value of £28,800 to support delivery of the Expanding Numeracy in Employed Adults Project.

WPG provided marketing materials to the value of £374.

EOM Installed Solar PV & associated works to the value of £8,110.

Myrick Training Services provided training courses to EOM to the value of £145.

Myrick Training Services provided training courses to Nibs to the value of £2,796.

Myrick Training Services provided training courses to Carpenter & Paterson to the value of £1,665.

For each of the organisations listed, they have trustees/directors in common with the charity.

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Mid and North Wales Training Group Limited

Detailed Statement of Financial Activities for the Year Ended 31 July 2024

INCOME AND ENDOWMENTS
Investment income
Deposit account interest
Charitable activities
Grants
Training Income
Courses
Other income
Other income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Telephone
Stationery & Advertising
External Training Costs
Seminars & Staff Training
Travelling Expenses
Motor Servicing & Repairs
Postage
Motor Licence & Insurance
Subscriptions
Support costs
Management
Rates and water
Insurance
Light, heat & cleaning
Sundries
Renewal & Maintenance Expenses
Computer software and support
Fixtures and fittings
Computer equipment
Bank Charges & Interest
Bank loan interest		 31.7.24
£
1,124
10,204
355,942
73,672
439,818
3,360
444,302
178,974
8,524
5,654
4,306
6,848
135,257
1,587
1,575
6,429
199
2,177
1,558
353,088
1,709
4,215
7,090
2,104
6,241
10,781
329
1,866
355
138
34,828		 31.7.23
£
605
-
258,428
83,229
341,657
3,531
345,793
178,546
7,451
5,529
4,484
3,163
102,448
-
970
6,630
75
1,538
1,475
312,309
1,527
3,036
4,970
1,598
3,664
7,532
422
1,905
381
407
25,442

This page does not form part of the statutory financial statements

Page 19

Mid and North Wales Training Group Limited

Detailed Statement of Financial Activities for the Year Ended 31 July 2024

Management
Governance costs
Accountancy fees
Legal & professional fees
Independent examination fees
Total resources expended
Net income/(expenditure)		 31.7.24
£
2,606
3,230
1,410
7,246
395,162
49,140		 31.7.23
£
3,110
4,581
1,320
9,011
346,762
(969)

This page does not form part of the statutory financial statements

Page 20