Stockport Engineering Training Association Limited
(A company Ilmlted by guarantee)
Report of the Trustees and Consolidated Financial Statements
For the year ended 31 July 2020
Company Number 1512311
Registered Charity in England no 510493

StOGkport Engin•orlng Tralnlng Assoclatlon Llmlted
Report and Consolldated A¢Gounts
Contents
Pagg
Report of the Iruslees
Report of the Ind&pèndenl aijdilors
Consolidated slalemenl of financlal acllvlll&s
9- 11
Consolidated balance sheet
13-14
Charlly balance sheet
Statement of Cash Flows and Congolldaled sl8lem&nl ol Cash Flows
15-16
17
Notes forming part of the financlal statements
18-33

Stockport Engineerlng Tralnlng Association Llmited
Report of the Trustees
for the
ear ended 31 July 2020
The trustees are pleased to pres8nl their annual directors, report lo
ether wlh the consolidated financSal
statements of the charity and Ils subsidiaries for the year ending 315uly 2D20 which are also prepared lo
meet the requirements for a directors, report and accounts for Companies Act purpos8S.
The financial slalemenls comply wllh Ihe Charitles AGI 2011, the Companles Act 2006, the Memorandum and
Articles of Association, and Accounting and Reporting by Charities.. Statement ol Re￿Mrnended Proclice
applicable lo Charities preparing their accounts in accordance wllh the Financial Reporting Standard
applic8ble Sn the UK and Republlc of Ireland (FRS 102} {effeclivo 1 January 2019}.
Chalrs Ro
ort
The SETA team continue Mth the same enthusiasm and hard work lo ¢arry on the business developemenl
and consolidation of plans previously put into practice.
The next phase of Ihe planned Improvements lo develop the dellvery of the academlc progamme hav6 been
cemplelèd lo consolidate HNC so as lo relaln and achlevè conlinulty of sludènls within the organistion with
consideration to develop through lo HND level.
Recent years issues with funding sources have largely been resolved either by legislation or by in company
inlllalSves, thus redu¢ing SETA'S vulnerabllily. Our Operatlonal Board IOBI continue lo mon11or all changes in
funding rLJlfjs and will plan allernativa solutions for Any issues that may 8rlsg.
The organisalion continues to deliver a wide range of training initiatives lo meet our customer dgmands
across apprenticeships, adult skills and health and safely in line with both recognised national and
Internatlonal standards. The courses are delivered across the UK and overseas as roqulred and to a
customer base ¥anging from small lo multinational organisalions.
The budgeted targets for the year were very much on track for first three perlods, then we were hlt by the
Cgvid 19 pandemic and reslriclions which came into force in March 2020, many booked courses were
cancelled without notice. with the consequ8ntial effect on reducing final quarter income. The 08 acted wlh
Inltiallve and Integrity lo revSew what land howl could bo d8llvered undor th& clrcumslancos and reslrfcllons
imposed by Government legi81allon, The Apprentice Trainlng Programmes continued to achSeve timely
oulcoTlles with a great deal of strategic and logistical planning. However il was necessary lo pul some of our
staff Dnlo the Govemmenls Furlough scheme.
Consoquenlly the budgeted profil sol In the business plan was not m81, howovor with prudent accounting and
financial planning together wilh the acllons of the OB th8 final result shows a small loss for the year.
Despite the difficulties in the year. larg819 sel by the bDard and management team havè generally beèn
achleved. and although the largeled prolSls were not mel we b6llve we have performed well in olrcumstanGes
that are beyond our control. We wlll pursue Snlllatlves lo develop the buslness and conllnually revlew these
through strategic discussion at planned board meetings.
I thank our stakeholders, Board Members, Chief Executive. Operational Board and all the hardworklng staff
who make11 a privilege to chair SETA and their commllment lo the success of Ihe organisalk)n. as we
provide the education training and support to our clients and their employees.
Our
os• and activitles
The principal objo¢tive of the Charity Is to mainlain, Imtxove ar￿ 8dvance e(iucation by promoling thè tralnlng
and education for employed pèople and those intending lo be employed in industry and commèrcè as shown
in the Memorandum and Articles of the Association.
Member Companies of the Association have prlorlty access lo IhSs se￿ICe for Iheir identified needs.
The slral&gies for achievlng tho objocllves ar8 to build on the success we h8ve already achleved and lo
maxlmlse the polenllal apprenll¢e recrultment flgure of 120 Includlng a cohort of SETA sponsorad
apprentices.
- To promote and develop SETA Cyprus and SETA Inlernallonal through the acquisition of trainirEg contracts
In Europe and the Mlddle East.
Meet the challenge and succession plannlng for key personnel from quallfled and compelenl replac8m8nts.
Improve Adult Learning Budget initiative for employers.
ur
The Charity doe5 not carry out signif￿ant fundraising actlvilies, the main income for the Charity is via
Government funded Apprenticeship training which is supported by commercial training 20tiMlies.

Stockport Englneerlng Trabning Association Llmlled
Report of the Trustees
for the
ear ended 31 Jul 2020
Publlc Bgnellt
The Trustees confirm that they have, wh8n and where necessary lo do so, paid regard lo the Charlty
Commissioner's Guidance on Public Benefll when considering and making ils decisions.
SETA Is Ideally placed lo offer ils funded services lo Ihe whole of the Greater Manchester and surroundlng
calchmenl area.
Membership
We currently have 19 member companies.
Appr8ntic8 Training
The consider8bl6 changes In thè educatlon system continue to have a major impact on SETA. The
inlroducllon of the New Apprenticeship Levy and funding system that was irllplemenled in 2017 caused
some confusion and lack of confiderKe the system, this seems lo be turning around now with numbers
Increaslng for Levy paying employers. The drive by the government lo slgn up on new Apprenllceship
Standards Irom Frameworks conllnues with Frameworks finally belng wlthdrawn on the 31st July 2020.
The number ol Standards available continues lo grow and we continue lo expand our portlolio where
avallable. After we were unsuccessful irb our bid lor Non-Levy Iijndlng from 1 sl April 2018 we managed lo
secure a subcontract arrangement with Easti@igh College lo continue lo provide Apprenllceshlps lo small
employers. The Government finally released Non-Levy lunding via the Digital Apprenticeship Service the
1 st January 2020 and we have managad to ulillse this system before Covid hit, this means that we do not
have to rely on subcontracting movlng fo￿ard.
Apprenllce Tralning is one of the Charills main sources of income. This relles on the Charity's recrullmenl of
apprentices for member companies and clienls. Recruilmenl - initial assessment, interviewing and selec15on
of young people on behalf of the Association's membgrs and ¢llenls Is undertaken lo support Ihelr crllerla for
employment.
Non-charltablo AGtivlties
These are done lo support charllable aclivllSes and to provldg mgmbers with services required.
Aduft Engineering Trainlng
Adult Skllls programtll8s tallored lo suit the employing company's needs continue to grow in today's
environrnenl of multi-skilled workforces. Many are using the NVQ system to gain fomial qualifications of Ihelr
competences. We wlll respond lo the needs of compani85 investing in workforce development via purpose
deslgned programmes. Contacts with the newly created Skills Academies should assist in the marketin9 ar)d
delivering of core skills for which there is a regular and polen11811y larger m8rk61.
New opportunies continue lo b8 monitored, thls included starting delivery of the new 18th Edition Eleclrlcal
course in 2019 that IS Still provlng very popluar.
Safety and sI￿rt Cours•s
Health, safety and environment related courses for industry and commorce are in constant demand
throu9houl the UK, European and the Middle East.
SETA has rssponded lo this and has sel up SETA Inlern3lional lo grow links with partner5 in these areas,
partlculady In Cyprus, Greece, Turkey, Affi¢a and Eastsm Europe. E-portfolio - NVQ Level 5 in Occupational
Health and Safety practice is still increasing in numbers.

Stockport Englneerlng Tralnlng Assoclation Llmltod
Rfrport of tho Trusteos
for the
ear ended 31 July 2020
Achievaments P rf
rmance and Covid-19
2019120 stsrted off very strongly for us wSlh all sides of the business looking very Ilkely to surpass their
budgets. When Covid-19 hil us 11 forced the closure of tho Trainlng Accademy on the 23rd March. All
Commerclal course dèllv&ry ceased as did Apprentlce praclKal trainlng. We moved quickly lo ensure that as
many apprentices as posslble Temained on program lo secure continued Inwme from the ESFA, thi8
includ8d-.
1 } Setting remote Ir8Snlng for BTECINNC via Zoom
21 Tasking leamers on pracliallossons with Completion of job "wrlle ups" vla their E-portfollo
3} Complellon of additional onllne Iralnlng courses, includlng Safeguarding, EDI, elc
SETA ulilised the Coronavlrus Job Retenllon Scheme to Furfough all staff that could T￿¢ work from home and
rovlewed this on a weekly basis.
Once the lockdown was eased, after a Covid rlsk assesment and safety measure bèirbg impFemenled, the
Irainlng centra re-opened on the 15th June 2020 wllh much r6duced numbers. Those staff that were required
were brought back from Furfough and numbers were monllored regularly, all BTEC dellvery remalned
r8mDle. Commercial courses seemed lo pick up very qulckly with them belng run remotely where posslble.
Apprenliceshlp slarts were looking to Surpass th8 previous years lolal of 124 unlil Covld-19 hil in March, the
total for 2020 finished 8197.
We have been hll by some 8pprenllce redundancies sinco the year end bul have minlmised the impact by
utllislng the ESFA speoial funding rules to conlinue training and galn allemative employment for the lèarners.
The number of learners slartlng stand alonè NVQ'S pald directly by thelr employers decreased from 24 to 13
IhSs year, these also Started late in the y6ar due lo compani88 uncertalnty over Covid-19.
Demand for the The Level 4 Higher Nation81 C8rtiflcale {HNC) In Engineering st411 continued to be strong ￿th
15 commendng year one and 21 relurnlng lo complete year Iwo. This 15 a natural progr8ssion for
Apprènllces after achieving the Level 3 National Certlflcale and is a full eommerclal ¢harg6 to employers.
We are still looking to expand lo HND over the next Couple of years.

Stockport Englneerlng Tralning Assoclallon Llmitod
Report of the Trustegs
for the
ear ended 31 Jul 2020
Flnancial Roview
The principal funding sources for Sto¢kport Engineering Trainlng Association Ltd are re¢elv8d from the
Educallons and Skills Funding Agency for Levy funded apprenticeships. Thls Is supplemented via eTnpIoy8r
conlribulions. where they require Iralnlng over and above Ihe Iramework or the learner only qualifies lor part
funding. The new Non-Lovy fun¢Jing system that was r818ased in January 2020 means that we are no longer
reliant on our subcontract agreement wlth Eastl6igh College lo fund apprenlic8ships for small employers.
Those leamers registered with Easlleigh will conllnue wlth them until complelton.
This funding is supported by other training income being general8d through the charfty's subsidiary trading
compariies. these allow us to operate in other markets Ihal would not n¢xma51y be accessible lo the charity.
These include..
11 Comrnerclal Englneering Training - Thls had an Increased budget for 202D of £240,000 and was on largel
lo meet Ihls up until February 2020. Covid-19 ensured Ihls lirkished £86,000 down al the year end.
21 Héalth & Safely courses - Thls was £39,000 above budget to February 2020 b￿1 finlshed £55,000 under
budgel.
3) Commercial NVQ training.
4) SETA Inlernallonal - On largel to achieve an incre8s8d budget up unltl February 2020 bul finished £50,000
under budget.
All profi18 from the commercial Iralnlng are glft-aided back to the Charity to aid 11 In fulfilllng Its charitable
aims, £13,688 has been glfl aSded In 2020.1£143,380 in 20191
The financial resuli for the period was a nel decrease in funds of £2,83712019 .' £60,Q481. Due lo the re-
classili¢ation of Government Apprenticeship Income (See Note 21), reslrided funds decreased by £40,988
{2019'. decrease £8,018) and unreslricled funds increasect by £38,15112019'. decreased £52,030).
Income decreased by £244,510 {£290,OOD down on budgell. this was purety down lo the impact of Covid-19,
however after claiming £109,720 via the Governments CJRS furlough scheme, the nel impact on the
accounts was a reduction of £134,790. We did. however, manage lo keep expendilufe under the original
budget by £153,000 due lo cost saving measures. This had the result of miligaling thè impact of Covid to the
small loss of £2,837.
Our ctsnsolidaled balance sheet continues lo show a strong picture sin¢e the reflnance was completed in
February 2016 with net Gurrent assets of £42,892 compared 19 £42,155 in 2019.
Budgets have been sel for the next year a5..
Year
2021
Turnover
£1,657,500
Expenditure
£1,724,600
Covid-19 and the oconomic climate will still have an effect on the Charity achleving its objectives, due lo the
nature of the buslness we operate bul we continue lo monllor the risks and impacts and adapt accordingly.
Al th8 year end we had securèd a Coror)avirus Business Interuplion Loan facility ICBILS) of £120,000 10
pnsure SETA has enough capit81 lo survlve the pandemic. This had not beèn roqulred yel bul was drawn
down on the 21st January 2021.
The past few years has be$n a period of much change in the 8pprenll¢eship delivery area, including the
move from Frameworks (which were fi'nally withdrawn on the 3151 July 20201 lo Standards and massiva
changes In funding. We are in a strong poslllon Flloving forward with the delivery of Standards and, desplle
Covid, hope lo see some stability coma back lo the area in the future.

Stockport Engineerln9 Tralnlng Assoclation Limlted
Report of the Trustees
for the
ear ended 31 Jul 2020
Post Balanco Shagt Evonts
The CBILS loan of £120.000 had been agreed by the bank on the 20th July 2020 but, largely due lo the fact
that tralnlng picked up much fasleT th8n anllcipaled. had not been r8quired by the year end. The agreement
was lo expire on the 20th January 2021 and so the loan was drawn down on Ihls dale even though 51 was sllll
not required at Ihls Ilm8.
During January and February 2021 11 bocame apparent that the main roof of the workshop was delgriorating
faster than anlicipaled and running repalrs were no longer an option. Even though il was not included in the
budget11 was agreed Ihat quotes would be collected for a full replacement and preparations made lo move
ahead with this beforo July 2021. Quotes have bè8n rece5ved lo date In the reglon of £90,000 to £110,000
and we are just entering Iln81 negoli81ions.
Rosorvos Policy
ReseNes are needed lo brldgg Ihg gap between the spending and receiving of income and to cover
unplanned emergency repalrs and other expenditure. Thè Iruslees wnsider Ihal the ideal level of reserves as
at 31 sl July 2020 would equate to between 3 and 6 months of rton-course related ?xpendlture. Three months
belng £341,000 based on 2020 levels. The trustees consider that Ihls lev81 of roserves would ensure that.
glven a slgnificanl drop in fundlng, they woulé be able to contlnue the Chadlls current aclimties whilst
allernale plans were implemented.
The Charities total reserves were £532,208 as 8131st July 2020. The free res8rves. being those unreslrfcled
funds not represented by fixed assets and their associ8lèd finance. were £87,324 al 31 sl July 20201£48,905
in 2019), an increase of £38.419.1£40,988 of Ihis increase was related lo th8 reclassifi¢allon of Governemnl
AppTenlicehsip income Irom Restricted to Non-Reslricled - Note 21). Note that £44,109 of this finan￿ Is
repayable wlthln twelve months.
We were In a strong poslllon lo improve this In 2020 but Covld-19 had a malor Impaol on Ihls. We do sllll alm
to brlng thèse up to ideal level over the next five years.
We conslstenlly plan and monitor the financial performance of the ¢harlty In order lo malnlain res6Ne levels
by..
Setting Budgets
Produclng Cash flows
Produclng Monthly Management Accounts
Selling Business Development Plan
Investmants Hald
The investments held by th8 charlly are sh8r6 capital held in it's two subsidiary companles:
SETA Training and Advisory Services Llmiled held in order lo allow Ihe charity lo a¢c6ss olhsr
commercial training to supplement il's Income.
SETA Training (Cyprusl Limited - held In order to maintain our safel training presen¢8 in Cyprus when
govemmenl policies changed and il would have be8n imposslble with a
yprus registered company.
Plans for future
erlods
Our futur8 p18ns are detailed in our business development plan. A Goncert&d effort Is b8ing made lo promote
a15 SETA courses lo existing clSenls and members companies.
Major fundlng changes Sn the Apprenticeship Levy should now sellle down and provlde Some stablllty In the
sector. we are still on the front Ilne for any informatlon that is released and we wlll monllor the potential
threats and opportunities that may arlse.
Covid-19 wlll conllnue to impaGI the Assoclallon In Ihe future but we have contingency plans In place and will
continue to adapt lo Ihe Changes requlr8d and maximise any funding asslslance that ¢an be accessed.

Stockport Englneerlng Tralnlng Association Llmlted
Report of the Trustees
for the
ear ended 31 Jul 2020
Referenc8 and admlnistrative deta
Company Numbgr..
1512311
Charlty NUm￿r.
510493
Registered Offlco:
18 Hammond Avenue
Whilehill Industrial Estate
South Reddlsh
Stockport
SK4 1PQ
Bankgrs
The Royal Bank of Scotland PIC
1 Great Underbarnk
Stockport
SK1 1LN
Auditors
Lloyd Piggoll Limlled
Chartered Accounlanls and Slalutory Auditors
St George'8 House
56 Peter Stre81
Manchester
M2 3NQ
Dlrgctors and trusteos
The directors of the Gharilable company {the charllyl are its trustees for the purpose of charity law.
The trustees and officers serving during the year and since the year end w8r8 as follows..
Mr R G Howarth (Chairman)
Mr J R Moss (Treasurer)
Dr Moray Kidd
Mr N Carne- Appointed 15th June 2020
Company Secretary. Mr M C Field
Key management personnèl:
Chief Executive..
Flnan¢lal Director
External Operations Dlrector
Internal Operations Dlreclor
Quallty Dlr8Ctor
Mr R M Prince
Mr M C Field
Mrs J Bums
Mr M Neild
Mr L Johnson

stockport Englneering Tralnlng Assoclatlon Llmtted
Report of the Trustees
for the
aar ended 31 Jul 2020
Structure Governance and Mana
ment
Governing Do¢ument
The charity is controlled by Ils memorandum and articles ol assoclalion and constllutes a Ilmited cc)mpany,
Ilmlled by guarantee as deemed by the Companies Act 2006.
Rocrultment and AppoSntment of New Dlrectors and Trustees
The Directors of the Company are elected annually 81 the Compartry's Annual General Meeting. Al each
Annual General Mealing one third of Ihe Elected Board Members for th& tlme belng, or if Ihelr number Is not a
muS1iple of 3 then the nearest one Ihlrd, retires from office. If there 15 only one Ele¢led Board Member who Is
subject to r81ir8menl by roiallon, helshe retires. The Elected Board M8mbers who are to rellre In every year
are IhDse who have been longest In offlce since their last election or appointmenl. bul as between person8
who became Elecl&d Board Mambers on the same day those lo retire lunl85s Ih&y otherwise agree among
themselves) are deemod by lol. A retiring Board Member Is ellglble for retheleclion. but does not serve more
than 3 consecutive 3 year terms or, In the case of an Officer. 2 consecutive 3 year terms. Each Trustee is
elected and voted into office by the members and offlce of Chairman, Deputy and Treasurer similarly elected.
rhe Assoclalion Is a member led organisalion and the Trustees ara mindful of meeting their needs. Currently
there ar8 five Tnjslees. all holding non-execullve office and meet formally every four monlhs.
Inductlon and Tralnlng of Dlroctors and Trustees
New Dlreclors and Trustees are given Iralnln9 upon election, subjèttl to Ihelr exlsling skills and knowledge. A
tailored programme of training takes place for each new Director and Trustee. 11 provldes trusteBs with
suitable and sufficlenl help and guldance on how the Char¢ty works.
Organlsational Structure
Overall responsibility for the Charity's strategy and dlrecllon rests with the Board of M8nagemenl, which
comprises all Dlreclors. The carfying out of day lo day 8¢1ivllles Is delegated lo the $18ff under the
management of the Chief Executive. There are no specific glgniftcanl restrictions regar(Sing the way the
Charlty cAn operate.
The CharitSes decisions are ulllm8lely made by Ihe Board of Directors, there are bi-monthly meellngs when
dlscusslons lake place and decisions are then flllered down lo the staff conGern8d by Ihelr line managers.
Subsidiaries
The Charity has Iwo Iradlng subsldiarles. SETA Tfftining & Advisory SeNlces Ltd and SETA Tralnlng
{Cyprus} Ltd whose accounts are reported separately, and are Gorbsolidaled Into these accounts.
Both these companles were set up to perform trading activitios to prgvide funds for the charlty. As staled in
the notes SETA Training and Advisory Services Ltd made a profll of £13,688 before distributions and SETA
Tralning (Cyprusl Limited a sniall loss of £519.
Pay poll¢y for senior staff
Decisions on management remuneralion levels are made by the Chtef Executive taking into acci)unl Ihe lob
role, peer group salary evaluations, appraisols and advice from the Company Accountant.
The Chlef Executives remuneration Is ultimately set by the Board.

Stockport Enginoering Tralning Asso¢latlon Limited
Report of tho Trustees
for the year ended 31 Jul 2020
Risk Management
The TrLJsle¢s have a duly lo identify and revSew the risks lo which the Charity is exposed and lo ensure
appropriate contro15 are in place lo provide reasonable assuran￿ against fraud and error.
The Board has carried out a review of the major risks lo whlch the Charity is exposed and has put In place
controls and aclivilles lo miligale those risks which are wilhln their control lo influence.
Trustees. res
onsibilities in relatlon to the financial statements
Tho Iruslees (who are also the dire¢lors of Stockport Engineering Tralnlng Association Limited for the
purposes of company lawl are responsible for preparing the Report of the Trustees and the financial
slalemenls in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom
Generally A¢cepled Accounting Praclicel.
Company law requires the Iruslees to prepare financial slalements for each financial year which give a true
and fair view of the slate of affairs of the ¢harllable company and the group and of the Incoming resources
and application of resources, including the income and expenditure, of the charitable group for that period. In
preparing those financial slalernenls, the Iruslees are required to
selvl sullable accounting Policies and then apply them consislenlly.,
observe the Tllelhods and principles In the Charity SORP.,
make judgements and eslimales that are reasonable and prudent;
slate whether appllcable UK accounting standards have been followed, subject lo any
material departures disclosed and explained in the linanclal stalemenls.
prepare the flnancial 51alemenls on the going concern basis unless il is inappropriate lo presume that the
charitable company will continue in buslness.
The trustees are responsible for malntslnlng proper accounting records whlch dlsclose with reasonable
accuracy al any lime the financial posllion of the charitable company and to enable them lo ensure that the
flnancial statements comply with the Companies Act 2006. They are also responslble for safeguarding the
assets of the charity and the group and hence for taking reasonabl8 steps for the prevention and detection of
fraud and other irregularities.
Statement as to dl closur6 to our auditors
In so far as the ITuslees are aware al the lime of approving our Irustee8' annual report..
Ihere Is no relevant infomialion, being Information needed by the auditor In connection with
pr8P8ring their report, of which the group's auditor is unaware, and
• the Iruslees, having made enquiries of fellow directors and the group's audito¥ that they
ought lo have individually taken. have each taken all steps that helshe is obliged lo take
as a director in order to make themselves aware of any relevant audit infomi81ion and lo
establish that the auditor is aware of that information.
By
r of the board of trustoes
Mr. R G Howarth
Chairman
15th Aprll 2021

Stockport Engino•rlng Tralnlng Associatlon Llmllod
Report of thè Ind•pendont AuditOTS
to tho Tru$tee5 of Stock ort En
Ingfjrfn
Tralnin
Assoclatlon Llmlted
We have audited the financial slalemenls of Stockport Englneering Training Associatlon Limlled (which
comprises Ihe Group and Parent Charll8ble Company) for the year ended 31 July 2020 on pages 12 10 33.
The financial reportlng framework that has been applied in their preparation is applicable law and United
Klngdom Gengrally AC￿pted Accounllng Pracllce, induding Financial Reporting Siandard 102, Th6 Flnanclal
Reporting Standard appllcable In the UK Ènd Republic of Ireland (Unlied Klngdom Generally Accepted
Accounting Practic81.
This report is made solely to the Group and Chorilable Company's Trustees, as a bgdy, in accordance with
Sectlon 144 of the Charities Act 2011 and regulations made under Secllon 154 of that Act. Our audll work has
been undertaken so that we miqht slate lo the charitable companls trustees those matters we are required to
slate to them in an auditors, roport and for no other purpose. To the fullest extent pèrmilled by law, we do not
¢ept or assume r8sponsibility lo anyone other than the charitable company arid the charitable company's
trustees as a body, for our audit work, for thls report, or for the opSnigns we have formed.
Oplnlon on financlal statomonts
In our opinlon the financial slalements..
give a true and fair view of the stale of the group and parent charitable company's affairs as B131 Juty
2020 and of its incoming resources and application of resources, including ils income and oxpendilure, for the
year then ended.,
have been properfy prepared In accordanco with United Klngdom Generally Accepted Accounllng
Practice.. and
have been prepared in accordance with the roqulrements of Ihe CompanS88 Act 2006 and Charitles Act
2011.
Basls of opinion
We conducted our oudtt in accordance with Intarnalional Standards on Auditing IUKI I'ISAS (UK}°l and
8pplicable law. Our responsibilities under those standards are further described in the Auditors. responsibililles
for the audit of the fln8ncI81 stslements section of our report. We are independent of the Group In accordance
with the glhical requlrements that are relevanl to our audit of the financial statements In the UK, including the
FRC'S Ethic81 Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufflclenl and appropriate lo provide a
basls for our opinlon.
Conclu$lons relating to golng conc8rn
We have nolhlng lo report in respect of the following malters in relation lo whid) the ISAS IUKI require us to
report lo you where..
The Trustees, use of the gDing concern basis of ac¢ounling in the PTeparation of the financial stalemenls
Is nol appropriate: or
The Trustees hav8 not disclosed in the finatsclal statements any identified Tnateri81 mal¢rlal uncertainties
that may cast significant doubl about the Group and Parent Charitabla Companls abilty to continue lo adopt
the going concern basis of accounllng for 2 period of al least twelve monlhs from the dale when the financial
statements are aulhorised for Issue.
othar Snlorniatlon
The other Infom)alon ¢omprises the inform8tk)n induded in the annual r&port, other than the financl81
statements and our auditors, report thèraon. The Trustees ar8 responsible for the other information. Our
opinion on the flnancl81 statements does not cover the other information and we do not oxpress any form of
aS5urance concluslon Ihereon.

Stockport Engineerlng Tralnlng Assoclatlon Llmlt8d
Roport of the Independent Auditors
to the Trustees of Stock ort En
ineerln
Tralnl ASt￿latIOn Llmltéd
In connection with our audll of the financial slalemenls, our responslblllty is lo read the other informallon and,
in doing so, consider whether the olher infomiallon Is materially inconsislenl wlth the flnancial stsleTnents or
our knowledge obtained in th6 audlt or olhernise appears lo be malerbally FFTriSStaled. If we identify sijch
material incon$is18ncles or apparent materlal mlsstalem8nts. we are required to dèterwlne whether there Is
material rnisslalemenl In the financial slalements or a malerlal mlsslalemenl of th& other Informallon. If, based
on th6 work we have performed, w8 condude that there is a malerlal mlsstatgwwient of this other Information.
we are requirad lo report that fact.
We have nothlng lo rèport In Ihls regard.
Oplnlons on other matters pr•scribod by thfj Companies Act 2006
In our opinion, based on th& work undertaken in the course of the audit..
the information given in the Trustees. Report, which includes the Directors. Report for the purposes of
company law, for the flnancial year for which the financial slalemenls are prepared is conslslenl wllh the
financial slalements; and
the Directors, Report included within the Tru8te@s' Report h88 been prepared in accordance with
applicable legal requirements.
Matters on whlch we are requlred to r8POrt by exceptlon
In the light of the knowledge and underst8ndlng of the group and ils envlronmenl oblained in the course of the
audit, we have not Klentilied material misslalemenls within the Trustees, Report.
We have nolhlng lo r6Wrt in respect of the following rnatters In relation to whlGh the Companies Act 2006 and
thè Charllles Act 2011 requires us lo report lo you if, In our opinion..
adequate and proper accounting re¢ord8 have not been kept. or returns adoquat8 for our audll have not
been recfjived from branches not visited by us., or
the financlal Sialemenls are not in agreement with the accounting records and rglurns., or
certain disclosures of Trustees, remuneration specified by law are not made.. or
we have not r6eaivéd all the Information and explanallons w8 require for our audit.. or
the Trustees were not enlill6d lo prepa￿ the financial slalemenls In 8ccordance with the small
companies. regime and lake advantage of the small companies, exemptions in preparing th8 Trustees, Report
and from the requlremenl lo prepare a Strategic RGw>rt.
Rèsponsibilities of Trustea$
As explained mor@ fully in the Trustees, responsibilities slalement, the Trustees, (who aré also the directors of
the Charllabl& Company for Ihg purposes of company lawl are responslblo for the preparation of the flnanci21
slalemenls and for belng sallslied that they glve a true and fair view, and lor sijch internal control as the
Trustees determine is necessary to enable the preparation of flnancial s1818ménls that are free from material
rnisslat8menl, wheiher due lo fraud or error.
In preparing the financial slalements, the Trustees are rasponslble for as8e5sing the Group and Charllablo
Company's abillLy to continue as a going concern, disck)sing, as applicable, mallers relating lo going concern
and using tha going ¢on¢ern basis of accounting unless the Trustees èither intend to Ilquidale the company or
lo cease operations, or have no reallslic allernalive but to do so.
10

Stockport Englnagring Tralnlng Asso¢latlon Llmited
Roport of the Indepondent Auditors
to th& Trust00s of Stock ort En
In99rln
Tralnln
A550¢iatlon Llmllod
Audltor's responslbllltles for thg audlt of the financlal statements
The Truslees have elected for the fin8ncial statements to btt audited In a¢¢ordance with the Charities Act 2011
rather than the Companles Act 2005. Accordingly, we hav8 been appointed as audblor under section 144 of the
Charili6s Act 2011 and report In accordance with the Act and relevant regul81ions made or having offecl
Ihereunder.
Our objectlves are lo oblaln reasonable assurance about wh8ther the flnancial slalemenls as a whole arè frae
from material misslatemenl, whether due lo fraud or error, and lo issue an audrtors, report that includes our
oplnlon. Reasonable assurance Is a hlgh level of assurance, but is not a guarantee Ihal an audit ¢onductgd in
accordance ￿￿th ISA8 (UK} wlll always deleGt a maler6al mlsstatemanl when It exlsts.
Mlsslalements can arise from fraud or error and are consldered material if. individually or In the aggregate,
they could reasonably be expected lo Influen¢8 the economic decisions of users iaken on the basls of these
flnanclal sla16ments.
A further description of our responsibilities for the audit of the flnanclal slalemenls is located on the FSnancSal
porting Council's web$ilè. This de9criilion forms part of our audilor8' report.
Lloyd Iggott Liml
Chartered Accountants and Statutory Auditor
Sl Gèorye's House
56 Peter Street
Manchester
M2 3NQ
Date..
26th Ap.ril 2021

Stockport Engineerlng Training Associatlon Llmltod
Consolidated Statement of Flnancial Activities
Ilncorporatlng a Consolidated InGome and Expendlture Account)
for the
ear ended 31 Jul 2020
Unr•strtcted Restricted
Funds
Funds
Totsl
2020
Total
2019
Notes
INCOME
Donalions arpd legacies
Income fmm tradlng actlvltl•s
109.720
548,049
109,720
548,049
795,875
Inves1￿19￿1 income
120
120
73
Income from charltablo a¢tlvltles.'
5 1,147.786
1,147,786
1,144,517
Total Incoma
1,805.675
1,805,675
1,940,465
EXPENDITURE
Expendlturo on raising funds
551,950
551,950
746,698
Expendltur• on charitable actlvlll
7 1.256.562
1.256.562
1,253,815
Total Expenditure
1,808,512
1,808,512
2,000.513
NET INCOMEIIEXPENDITURE)
Transfers between funds
GalnsllLossesl on revaluation of Fixed Assets
12,8371
40,988
12,837)
160,048)
(40,9881
Not movement of funds for th• yoar
38,151
{40,988}
2,837)
60,048
RECONCILIATION OF FUNDS
Total funds brought foTward
494,057
40,988
535.045
595,093
Funds balances carrled forward
532,208
532.208
535.045
12

Stockport Englne•rlng Tralnlng Assoclatlon Limitod
Consolldated Balance Shget
as at 31 Jul 2020
Notas
2020
2019
FIXED ASSETS
T8ngible assets
12
958,944
1,C>08,227
CURRENT ASSETS
Stocks
Debtors
Cash al bank and In hand
14
15
9.451
263,014
163,074
435.539
13,753
394,444
44,244
452,441
CREDITORS
Amounts falling due wllhln one
year
16
1392,647}
1410,2861
NET CURRENT
(LIABIUTIESIASSETS
42.892
42,155
TOTAL ASSETS LESS
CURRENT LIABILITIES
1,001,836
1,050,382
CREDITORS
Amounts falling due after more
than one year
17
{469,628}
1515.337)
NET ASSETS
2,208
535,045
FUNDS
Restricted furHIs
General funds
21
21
40.988
494,057
532,208
TOTAL FUNDS
532,208
535 045
13

Stockport Engineering Training Assoclatlon Llmlled
Consolidated Balance Sheet
as at 31 Jul 2020
The charitable company is enlilled lo exemption from audit under Secllon 477 of the Companies
Act 2006 for the year ended 31 July 2020.
The members have not deposited notice. pursuant to Section 476 of the Companles Act 2006
requiring an audit of these financial slalements.
The Iruslees acknowledge Ihelr responslblllly for
lal ensuring that the charitable company keeps accovnllng records that comply wllh Sectlons 386
and 387 of the Companies Act 2006.. and
Ib) preparing financial st8lemenls which glve a true and fair vlew of the slate of affairs of the
charitable company as 8t the end of ea¢h fbnancial year and of ils surplus or deficit for each
rinancial year in a¢cordan¢e with the requirements of Section 394 and 395 and which olheTwise
oomply with the requirements of any Companie8 Act 2006 relating lo financial statements. so far as
appllcable lo the ¢h8rilable company.
These financial slalements have been audlled under the requlremenls of secllon 144 of the
Charib'es Act 2011.
These flnanclal slalements have been prepared in accordance with the Companies Act 2006 ond
wllh the Flnancial Reporting standard applicable in the UK and Republlc of Ireland IFRS 102}.
The flnanclal slalemenls were approved by the board of Trustees on the 15th April 2021
and were signed ori ils behalf by..
Mr. R G Howarth
Chalrman
14

Stockport Englneorlng Tralnlng Associatlon Llmitad
Charity Balance Sheet
as at 31 Jul 2020
Not•S
2020
2019
FIXED ASSETS
Tanglble assets
Inveslmenls
12
13
958,944
1,901
960,845
1.008,227
1,899
1,010,126
CURRENT ASSETS
Debtors
Cash al bank and in har
15
91,143
72,833
163,976
123,117
18.043
141,160
CREDITORS
Amounts falling due within one
year
16
(128,9781
1103,884)
NET CURRENT
(LIABILITIESIASSETS
34,998
37,276
TOTAL ASSETS LESS
CURRENT UABIUTIES
995,843
1,047,402
CREDITORS
Amounts falling due after more
than one year
17
{469,828)
1515.337)
NET ASSETS
526,215
532,065
FUNDS
Restricted funds
General funds
40,988
491,077
526,215
TOTAL FUNDS
526 215
532,065
15

Stockport Englneerlng Tralning Associatlon Llmltod
Charity Balance Shoot
as at 31 Jul 2020
The charitablfj company is enlilled lo exempllon from audit under Section 477 of the Companies
Act 2006 for the year ended 31 July 2020.
The members have not deposited notice, pursuant lo Secllon 476 of the Companies Act 2006
requiring an audil of these flnanclal slalemenls.
The trustees acknowledge their responsibility for..
la} ensuring that the charitable ¢ompany keeps accounting records that comply with Sectlons 386
and 387 of the Companies Acl 2006., and
Ibl preparing financial slalemonls which give a true and fair vlew of the slate of arfalrs of tho
charitable company as al the end of each financlal year and of ils surplus or deficll for each
financial year in accordance with the requlremenls of Sections 394 and 395 and which otherwise
comply with the requirements of the Companies Act 2006 relatlng lo flnanci81 statements, so far as
appllcable lo the charitable ¢ompany.
These financial slalements have been audited under the requirements of secllon 144 of the
Charities Act 2011.
These flnanclal slalements have been preparad in accordance wilh Ihg Companles Act 2006 and
wllh the Flnancial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 1021.
The financial slalements were approved by the board of Trustees on the 15th Aprfl 2021
and were Signed on ils behalf by..
Mr. R G Howarth
Chalrman
16

Stockport Englno•rlng Trglnlng A88oclatlon Umltsd
stat•m•nt of Cash Flows and Consolldoted Statemont of Cash Flows
for thg year ended 31 July 2020
Group
2020
Group
2019
Charlty
2020
Chartty
2019
Cash used In oporatlnu adlvltle$
27
18
497
33,465
Cash flows from Invos¢lng a￿1VIll9&
Interest Income
Purchase of18ngible fixed 8sspts
¢a8h pro¥lded by (usèd Inl Invastlng actI￿leS
120
73
21.583
21,510
20.078
21,583
Cash flows from ttnanclng actlvlt88
Increase Irepaymentl of borrowing
Cash used In flnanclng Bctlvlt85
45.709
45,709
49,435
49.435
Increas8llde¢reasel In cash and ¢Ash equivalent8
In the year
Cash and cash equivalent5 al the beginning of the yèar
Total ¢￿h and cash equlvalents at the &n
of the yefir
118830
44.244
104410
148,654
14,520
18,043
17

Stockport Englneerlng Tralnlng Associafjon Llmlted
Notes to tho Consolldated Accounts
for the
ear gnded 31 Jul 2020
ACCOUNTING POLICIES
Basls ofprèp8ratlon of accounts
The flnancial statements have beèn pfftpargd in accordance with AccounJng 8nd Rèporting by Charities:
SlalBin8nl ol Recornrnended Pr2ctle6 applicable to charitles preparing thelr acctsunts in accordance wlth
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive
January 20191- {Ch8rid8s SORP IFRS 102}I, the Financial Reporting Standard applicable in thè UK and
Republic of Irfyland IFRS 102) and the Companlè8 Act 2006.
stockport Engineoring Tralning Association LSmlled meets Ihp definiNon of a public benefit antlty undar
FRS 102. Assets liabilllles arg initially ￿CognIs￿d 81 historical cosl or Iransacllon value unle$$
olhenNlse stated In Ihg relevant accounting policy not81sl and with the exceptlon ol Investments which
are IncludÉd at rnaikel value.
Prèparatlon of the accounts on a 9olng concgrn basls
The Trustee8 believe it is approprlat@ to prapare the accounls of the COFThpany on a goSng concem basi8.
The COVID-19 pandemlc and the government's m8asures lo contain the vlrus havo no
on the charity's P8rformance since March 2020. As ex
lain8d in the Trustees, Annua
8tivaly impacted
the use of the government's Coronavirus Job Retenllon
Report, through
Gheme, Coronavirus Business Interruption Loan
Scherne, cost savlng measurgs and increased use of onlinè rèmot8 learning tools, the trustees have
mili
dots
atgd this impact as best thèy can and are satisfied that there aro no material uncertaintses lo cast
l over the charity's ablllty to continuo as a golng concem
The charity 8180 receives part ol ils inEQtllB in Ihg foTTn of a contract from the Edu¢alion and Skills
Fundlng Agency l Th8 ESFA l. In common wllh many funded charities, the adoption of thÈ golr
concern basls Is dependent on the charily receiving 8d8qUate funding. The charlty currently has thi8
funding secured until 31 July 2021. While the Trustees recognise the uncertainties inherent in predlctlng
the liming and level of future fvnding beyond Ihls dale, they b81Sèv& that adequate funding wlll be
secured.
18

Stockport Enginoerlng Tralnlng Asso¢iation Llmlted
Notos to thè Consolldated Accounts
for tho
ear ended 31 Jul 2020
Group flnanclal statèmènts
The consolld8ted accounts incorporate th8 rgsults of Stockport EnginÈÈrlng Tralnlng Assoclallon Limited
I'lhe Charity'l and Ils subsidlary undertakings- SETA Tralning & Advlsory Service8 Llmltéd and SETA
T181n1￿ (Cyprusl Limited,. on a line-by-line basis.
Tha consolidated entlty Is refgrred lo as 'lhe Group,. No sep8rale company Ststemenl of Financial
Activities ISOFAI has bè8n prepared for the Charity as pemltted by sectson 408 of tha Companies Act
Income
Income is
me wil
ncluded jn I
SOFA Wh￿ the ch
bè rèceive
and the
mount can
g In¢om
mb8bla that
B measure
Te
ia
y. Don
are
cognise
tR fr value to Ihe charity when Il&y are reee5ved. No amounts are Included for services dona18
at
lunleers.
erily is enllllt P El
Income comprise..
Donations and I6gacl8S
L￿8¢18S
Pecuniary legac￿8 are r¢¢ognlsed as receivable once probate has
bèan granted and nolificatlon ha8 been recèived.
Re8iduary legacies 8r6 recognlsed as receivable once probate has
bèan granted, provided that suffiGient Inlormation has btrÈn
recelved lo enable valuatlon of the Charivs entltl&m&nl.
Don8tson$
Gift Aid
Donallons are ?ccounl8d for as thèy are received.
Gift Aid 1$ includèd basad on amounts recovered or recovarabla at
the accounting date.
Acllvitl88 for raising fund8
Momb&rshlp 8ubscrlpllon
Membership subscription incomo Iwhlch Is not con8idtrréd to bè
dona￿OnSI is accounted for on gn a¢¢rual basis.
Engineering Ir81nlng
Income from provlding training and ¢ourses are accounted for on
an accrual b8sIs.
S8f81y t￿l￿1ng
Incorne from providlng tralnlng and course6 are accounttrd for on
an accrua1 basis.
Incorne from provldlng trBlning and ¢our8e8 are aooounted for on
an ac¢wal basis.
Schools training
Inv8stment In¢omg
Inveslmonl Incom8 Is accounted for on an accru81 ba818.
Incom8 from charitable actSvilie8
Appr8nticg training-
Govemmènt funded
Appr6¥ntl¢e trainlng-
Olher fund8d
members seNices
Gov8mmtsnl funding Is ro¢ognlsed when the Charity Is èntltled to
receipt on an accrual basis.
Income Is recognised wh8n the Charity is entltled lo receipt on an
accrual basls.
Incomè from providlng tralnitYJ and courses ar9 a¢counted for on
an accrual basis.
Government Grant In¢omè
Coronavlrus Job Retentlon Scheme Fudough Incorne is claimed
and accounlod for Fn the month that il relate$ lo.
19

Stockport Englnaaring Trainlng Assoclation Limited
Notes to the Consolldated Accounts
for the
ear ended 31 July 2020
Expendlture and basls of allocatlon
Exp8ndilure is accounted for an acGruals basis. Overheads and othèr costs not dir8Ctly attributsble lo
artlcular charitable activity category are apportloned ovar the relevant on the basls of management
es
imates attnbutablg ts) that activity In the year, which18 c8lculaled as follows-
min
Staff Ti
2020
2019
Engineering training incom8
Safety and short ￿￿rseS
Apprentice tralnlng
Non-Govgrnment funded apprentlcès
Schools Training
S6NiC8$ to members
Gove¥nancè
15.4
49.1
12.9
26.4
33.0
17.3
15.9
14.3
ex
en
es
2020
2019
Engineering training Ineoma
Apprenliog training
Non-GovernFnenl funded apprentices
Schools Training
Services to mèmbers
Governance
14.2
70.6
15.0
15.9
62.0
18.0
urse èx
ens
2020
2019
Safely and short coutsfjs
Apprentice training
Non-Governm8nt fundèd 8pprenlices
Sfjhools Tralning
Servlces to mgmbers
97.6
100.0
Time
2020
2019
Engineering IrainSng income
Safèly and short courses
Apprentice tralnlng
Non-Governm8nt funded appranticgs
Schools Training
Services to members
Governanc&
72.0
16.3
11.3
Can
8an
Dele
ate Numbe
2020
2019
Engineering training income
Safety and short courses
ApprentSc& training
11.7
13.1
75.1
15.3
22.6
62.1
20

Stockport Englneorlng Tralnlng Assoclatlon Llmlted
Notè$ to the Consolidated kGounts
for the
earended 31 Jul 2020
enses
Fl
2020
2019
Engineering tr8lning Incomg
S8f6ty and short courses
Apprenlce Iraining-Gov9rnmènt fundad
Apprenucg training-olher funded
Schools Tralnlng
S8rvlees to member8
Govemance
28.4
13.2
30.0
10.9
13.0
31.8
36.3
Govomance costs
Gov&manc8 Costs compri888 thg gxpendllurè on governance of tha charlty Including audll fe88, legal
advlcè for trustees, Costs of trustee meetlngs and an apportionment of relevant staff costs based on limg
spènt on governanc&-relat8d matters.
Loaslng and hlrg pur¢h4s0 ¢ommllmonts
Assets held under financ6 leases and hire purchase Contracts are capilalised in tha b8lanc& sheet. Th8
assets are d8preci8l¢d over Ihelr expeclgd useful liv$s.
Rentsls undar oporaling lejases are charged to the Btstemenl of financial a¢￿VItIeS as they lall due.
Penslon costs
The company op8ralps a defined conlribuliort pandon scheme for the pr88ent employ¥es. Contributions
ar8 charged lo the SOFA as they become payable in accordance wSth Ihg rules of tho schemg
Tanglb19 find asséts and d•prgcffatlon
All flxed assets are h81d for charitable use and ar8 Stated 81 ¢ost18s8 depreciation wlth all repalrs wrlll6n
off as occurred.
Land and bulldings ar9 held at market valuÈ. Land and bulldiros are revalu@d rfjgularly to ensure the
carrying value is not mal&rfally dlfferent from a falr value at the end of the repOrtIf￿ period.
Deprgcialion 15 provlded at rates Calculated to write off the c081 of tsngiblb fixed assets, less thoir
estimalgd residual vAlue, over Iheir ex￿¢1￿￿ u$8ful1Sves on the followlng bases=
Freehold Proparty
Motor Vghicles
Plant and Machinery
Computer Equipmènt
Offlce Equipment
2Vo Stralght Ilne
25% reducing balance
15°h reducing balance
20% stralght line
25% reducing balance
Sloeks
stock8 arè valued al the lower of c081 and net reallsable value, aftèr maklng due allowarKe for obsolel8
and slow moving Iterns.
Investments
Stjbsidlary companies are value(J al cost. wllh any resulting galns or10888s on exchango Includgd in the
SOFA.
21

Stockport Englneering Training Assoclatlon Limlted
Notes to the Consolldated Accounts
for the
ear ended 31 Jul 2020
Taxalio
The activities of the Charlty 8r8 axèmpl fr¢>m ¢orporalion laxalion under secllon 505 of the Income and
Corpordlckn T8X88 Act 1988 to the exlenl that they are applSed to the organisation's charflablo obj8¢livgS.
The trading subsldlarfes do not generally pay UK corporatlon tax becausè their policy is to pay taxable
profits as Gift Aid lo the Charity. Foreign tax Incurr8d by overs&as subsidiaries is charged as it Is
incurred.
Funds
Unre81ricled funds ara funds whlch can be used in accordance wSlh the charthble otie¢ts al the
discielion of th9 Iruslees.
Restricted funds Bre funds whieh gre to bo used in accordance wllh specific reslrictions imposed by
donors or which have bggn raised by the chadly for particular purposes. Th& cost of ralslng and
8dmirTrisl&ring such funds is charged against the specific fund. The airn and u88 of ¥e8lrict8d fund is
s&t out in the notes lo the flnanclal statements.
Investment incom8 and gains arè allocated lo the appropriate fvnd.
Forelgn curr•ncle5
Transactions in foreign currencles are recordod al tho r818 of exchange prevailing at the date of th&
Iransactlon. ForÈlgn eurrancy balances are translated into sterllng al the èxchange rates pr9vailing at the
balance 8heet dale, Any resulling gains or losses on exchangg aro includgd in the SOFA.
Profits and losses of foreign subsidiarfes are translated to slerfing at average rale8 of exchange. The
openlng nel ass¢ls and profil and 1088 accounts of ihose subsidiaries are retranslated lo ye8r end rates.,
èxchange differences arising on the reiranslallon are taken to ieserves.
D•btors
Dgbtors are nom7ally recognised at their Iransactlon prfcè. provision for Bad Debts has been included for
the year.
Credltors and Provl8lons
Cradltors and provisions are recognlsed where the charity has a pies8nl obllgauon resulting from a past
evont that will probably result In the Iransfer of funds to a third party the amount due lo sellle the
obligation can be measured or eslimat&d rall8bly. Cr8dilors and prowsions are normally recogni8ed al
Ihelr settlement amount after allowing for any discounts due.

Stockport Engineerlng Tralning Assoclatlon Llmited
Notes to the Consolidated Accounts
for the
earended 31 Jul 2020
FINANCIAL PERFOMANCE OF THE CHARIT
The charity is a company limited by guarante8 and has no share capital. The Ilablllty of 8ach mèmber In
the evenl of winding-up Is Ilmlled to £1. The Consolidated Statement of Financi81 A¢livill8s Is for the
Group as a whole. Th8 figuras bèlow 8ra the equivalent figures for the Charily only, excludlng other
Group ¢ompanles.
2020
2019
Income
Gift akj from the sub8idlary company
999.262
13,688
764,257
143.380
1.012,950
907.e37
Expenditure on charSlable aclivitles
Govèrnance costs
GainsllLosse8} on revaluallon of Frxed Assot$
1862.8641
1152,4131
1823,991}
1153.534}
1,015,277
977.525
Net movomènt In funds
12.327)
169,888)
Total funds brought fo¥ward
528.542
598,430
Total funds carrled forward
526.215
528.542
Funds
Roslricled funds
Unrestricted fund8
40,988
487,554
526.215
52621S
528 542
DONATIONS AND LEGACIES
Unrestrlcted
Fundi
Restrl¢t•d
Funds
2020
Total
2019
Total
Goveinmenl Grant Incom8
109,720
109,720
109 Y20
INCOME FROM OTHER TRADING ACTIVITIES
Unr•strlctod
Fund8
Re8trlcted
Funds
2020
Total
2019
Total
other trading 8ctlvltlg$
Membershlp subscrfptlons
Englneering training incomo
Safely and short courses
4,940
172,538
370,571
4,940
172,538
370.571
1,833
255,659
538,383
548.D49
548,049
795 875
Invotstmènt Incom•
Interest on c89h dèposlts
120
120
73
23

Stockport Engineering Training Assoclatlon Llmited
Note5 to the Consolidated Accounts
for the
ear ended 31 Jul 2020
INCOME FROM CHARITABLE ACTIVITIES
Unrestflcted
Funds
Restriet¢d
Funds
2020
Total
2019
Total
Appreniice tralnlng-Govarnménl
fvnd8d
Apprèntice Iralning-olher funded
Members servlces
917,469
220,717
9,600
917.469
220,717
9.600
826.700
271,301
4e,516
1.147,786
1,147 786
1 144517
EXPENDITURE ON RAISING FUNDS
Unre6trlcted
Fund¥
Restrlctod
Funds
2020
Total
2019
Totsl
Engineering Iralnlng
Mèrkèling
Staff costs
Training costs
Travel
Premls69 ctssts
Office and sundry costs
DepreoiRlon
11,222
68,365
19,852
13.994
35.796
7,152
13,885
170266
11,222
68,365
19.852
13.994
35,796
7.152
13.885
170266
10,316
120,177
30,342
9,615
39,642
9,278
15,266
234,636
Safety and short Gourses
Marketing
Staff costs
Training costs
Travel
Premises costs
Offico and sundry costs
Depreclatlon
9.270
188.265
112,098
28.722
16,849
18.133
8,547
9,270
188,265
112.098
28,722
16.64
18,133
8,547
42.026
205,785
177,958
38,653
14,427
26,282
8,931
381,684
512062
TOTAL
551,950
551,950
746 698
24

Stockport Englnaerlng Tralning Assoclatlon Limlted
Notès to the Consolidated Accounts
for tho ear onded 31 Jul 2020
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestrlcted
Fund8
R•strlcted
Funds
2020
Total
2019
Total
Apptsnllca trainlng-gov8rnm&nt funded
Marketing
Staff costs
Training cost¥
Travel
Pr8mlses costs
Offico sundry costs
Depreclauon
5,483
696.698
102,377
7,661
13,949
42.154
8,211
5.483
696.698
102,377
7.661
13,949
42,154
8,211
6,3B6
599,175
105,590
10.191
17,229
41,325
9.814
876.533
876,533
789,710
Appr8￿￿& Ir8lnlng-Oth6r fund8d
Mad(eling
Staff costs
Trainlng ¢osl$
Travel
Premises costs
Office and sundry Costs
Depreclatk)n
124,330
10,228
124,330
10,228
178,343
15,233
45.792
11.108
14.528
45,792
11,108
14.528
42,068
5.853
12,996
205 986
205,986
254,493
Membar s&rvices
Markatlng
staff costs
Tfaining co818
Travel
Premises costs
Office and Sundry ¢o¥ls
Depre¢lalion
2.597
137
2.597
137
27,634
2,707
1,836
1,775
1.487
1.836
1,775
1,487
7,213
1,585
3,043
7.832
Governan￿ costs (r￿18 71
166,211
166,211
167.430
TOTAL
1,256.562
1,256 562
1.253,815
GOVERNANCE COSTS
Unro8trlctod
Funds
Restrlcled
Fund$
2020
Totsl
2019
Totsl
Markoling
Staff costs
Training costs
Travel
Premises co8t8
Offi¢e and sundry costs
Depreclatlon
287
53,693
252
5,335
12,109
71,833
22,702
287
53,693
252
5,335
12,109
71,833
22.702
353
49.698
622
7,115
11,780
69,018
28,844
166211
166211
167430
25

Stockport Engin8ering Trainlng Association Limited
Notes to the Consolldated Accounts
for the
ear ended 31 Jul 2020
NET RESOURCES EXPENDED BEFORE TRANSFERS
2020
2019
This Ss slated after chargSng:
Dèpreclatlon
Directors, remunerdlvjn
Pension costs
ALtdllors' rèmunerallon
69,361
61,939
34,224
78,894
63,117
34.479
10 TRUSTEES. REMUNERATION AND BENEFITS
Total remun9ration paid to ¢ruslees' amounted Ig..
R.G Howarth
J. R. Moss
Total
£750
£1.500
£2,250
12019 £1,500)
12019 £1,500)
12019 £3,000}
ThiB has been agre8(I with the Charitie8 Ctsmmi85ion due lo the additional ￿me Involved In b&lng a
Director of the Trading subsidiary company SETA Training and Advisory Servic88 Llrniled
Thero wore no trustees, ex￿nseS or other benefrts for the yoar ended 31 July 2020 nor for ihe year
enEled 31 July 2019.
STAFF COSTS
2020
2019
staff costs during the year amounted lo..
Wagès and salarl&s
Social security costs
Pension costs
998,467
92.995
34,224
1,125.686
1,035,764
103,364
34,479
1,173,607
The BverBge numb&r of employees during the year,
InGludlng full lime equivalgnls of part tim8 grnploy898, wa8..
Apprentice training"government funded
Mèmbers seNces
Enginoering Irainlng
Safely and short courses
Governance
10
fo
32
32
The employees perfomied training, administrative and management functions.
The emoluments of one member of staff, including benefits in kind, 15 within the range £60,000 to
£69,99912019 - One), not Including rellrernenl benefits whlch are acofuing und&r a mongy purcha
scheme.
Thg key rnanagement per80nrtel of th8 group eomprisè thos8 of thè charlty, bèlng th8 tmsteès. the
chief executive and the company secretary. The total employ8e benefits of the key manag8m8nl
per$onn¢l of the grtsyp w¢re £107,51312019.' £108,868).
The number of employe8S to whom retirement benefits were accruing w8¥ 3712019.. 351
The above includes holiday pay accfual amounting lo £35,00612019 £20.704)
26

stockport Englneering Tralnlng A8soclation Llmlted
Notes to thè Consolldated Accounts
for the
frar endad 31 Jul 2020
12 TANGIBLE FIXED ASSETS
Land and
bulldlng8
Plant and
m8chlnory etc
Motor
vohlclgs
Total
Co$1 or valuatlr>n
Al 1 August 2019
Addlllon$
Dlsposals
At 31 July 2020
850,000
690,447
20,078
403.159
307 366
226,432
1,766,879
20,078
403,159
1383 798
850,000
226,432
DeprecSatlon
At 1 August 2019
Charge for the year
On di8po8al8
At 31 July 2020
34.000
17,000
605,47g
25.546
403,159
227 866
119,173
26,815
758.652
69.361
403,159
145988
Net book value
At 31 July 2020
799.000
At 31 July 2019
816000
107 259
1.008.227
All fixed assèts h8ld are used for dlrecl charitable PUTposes.
Except under an order of th6 roglstrar, no deposition by th8 proprietor of the land is lo be regisleTed
wllhout the consent of the proprietor of the Charge in favour of thè Royal Bank of Scotland Plc. referred
to in the Ch8rg8s R89iSter.
If the freehold land and building had not been revalued they would have been Included at tho following
historical cost..
2020
Cost
Aggrggate depredatlon
702,￿6
1230,395)
Al 31 July 2020
Freehold land anil bulldlngs were valuod on an open market basis al July 2017 by Roberts & Roberts
SuNgyors.
Cost OT valuation at 31 July 2020 Is repTes8nled by:
Land And
Bulldlngts
Cosl
Valuation
Valuatlon
Valuatlon
542.323
640,000
1420.000}
87,677
At 31 July 2020
850,000
27

stockport Engineering Tralnlng Association Llmited
Notes to the Consolidated Accounts
for the
ear endèd 31 Jul 2020
13
INVESTMENTS
Unllsted
Investment
Cost
At 1 August 2019
MoveTnenl
1,B99
At 31 July 2020
Net book valu•
31 July 2020
31 July 2019
1,901
1.899
The company'$ investments at Ihe balBnc& shggt dale in the share capltal of compani83 include the
followlng..
Country of
Incorporatlon
England
Cyprus
England
Class of
Shar•s
Ordinary
Ordinary
Ordlnary
Subsldlary Und•rtaklng
SETA Tralning and Advisory Sèrvices Limited
SETA Trainlng (Cyprusl Llmiled
SETA Int8m8tional Lirnilod
Yts Held
1000
100%
99.8°ID
SETA Tr41nlng and A(Ivlsory S•rvlc88 Limlted
Ilncorporalad in England and Wales)
Nature of busin69s.' Providing training for people erllployed or intending lo b6 8mploy8d In irKluslry and
commerce.
Class of shares..
Ordinary shares of £1 each
holdlng
100.00
Company Number.. 03001863
2020
2019
Turnover
Cost of sales and admlnlslratlon wsls
Inleresl rocelv8ble
Inlgrest payable
Tax
746,174
1732,8021
11
1,161,789
{1.016,992
69
Net Profll
144,866
Amount gift aided tr) the Ehawty
{13.e881
1143.3801
Rotalned in $ubsSdlary
28

stockport Engineerlng Training Assoclatlon Llmlted
Notas to the Consolldated knounts
for tho
ear ended 31 Jul 2020
SETA Tralnlng {Cyprusl Llmlted
Ilncorpoiat6d In Cyprus)
Nature of business.. Providing heallh and 8afgty Coufses industry and commerce.
Class tsf shares..
Ordinary shares of £168ch
holdSng
100.00
Company Nurnbsr.. 224453
2020
2019
Aggregate capitsl and reserves
ProfiVILo88I for the perlod
5,594
519
6,102
The consolidatèd 8tatèmenl of financial aclivitios Includes the re8uIts of the charivs wholly ownod
8ubsldiarl$8. The summary finan¢¢al perfomance of SETA Training (Cyprusl Limited alona Is..
2020
2019
Tumover
Cost of sales and adminlstralion co$18
Interest re¢eSvabla
Corporallon Tax
12.750
(13,0411
72,943
163.0651
{2281
N&t Profil
519
9.878
Amount gift 81dèd to the charity
R¢tslnèd In subsldlary
519
SETA Iht•rnatlonal Llmlted
Nature of bu8ine88'. 0(vmant
Ilncorporaled In England and Wale$}
Class of $hares=
Ordinary 8hare5 of £1 each
holdlng
99.80
Company Number.. 9992870
2020
AggTg9ale ¢apltal and resem8
ProflU(Lossl for the pèrtod
1,000
14 STOCK
Gr<)up
2020
Group
2019
Charlty
2020
Ch•ilty
2019
Centre rnalerials
Prolactlva clothing ond equlpmenl
R8gistrallon8
Canteen
stationery
Cleaning Malgrials
Maintenance Materials
course Books
6,1
7,040
1,627
4.068
390
1.142
1.115
842
602
29

Stockport Engineerlng Tralnlng Association Llmited
Notes to the Consolidated Account8
for the
oargnd&d 31 Jul 2020
15
DEBTORS
Group
2020
Group
2019
Charlty
2020
Charlty
20qg
Trade d6btors
Govemmenl fundlng recèlv8bl¢
Amounts
du¢
from
Group
undertakings
129,985
53.600
261,480
49,416
7,452
53,600
11.125
49,416
4.411
50,500
Other tax68 and 80cial Securlly costs
Prepayments and accmed in¢omg
Oiher debtors
9,172
9,109
7,399
91.143
1,957
1,656
8,4fj3
123117
71.625
7,804
263.014
74.680
8,868
394,444
On 4th December 1997 the d1￿ClOr$ of th8 charity 6xeculed a first lègal charge over tho Lx)ok debts of
the wholly owned subsidiary company.
The loan to thè $ubsidiary company Is the suble¢l of a lorm81 loan ag￿ement be￿een Slself and th¢
Charlly dated 4th December 1997 and which is subjectto the following..
al Interest is to ba eh8rge¢f al 1Y¢ over bank base rate and the loan Is 8acured by a fixed charga over
book and olh8r debts of the wholly owned subsidiary Company.
bl The loan is lo bg renegotiated In the Intèrèsts of the Charily each year and shall bg Tepayable to th8
Charity on Ihe 3181 July each yoar.
16 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Gr<>up
2020
2019
Charlty
2020
Charlty
2019
ank loan Isecured
Bank overdraft Isecuredl
Trdde credltors
Obliggtions undgr fftnance lease and
hire purchase contracts
Accruals and deferred Income
22,414
18,513
22,414
18,513
51.886
35,432
17,932
4.074
21,695
248,591
29,225
277,046
21,695
36.055
29.225
24,808
Other taxes and social securlty costs
Other creditors
40,652
9,409
392,647
46,205
3,865
410,286
22.673
8,209
128,978
24,599
2,665
103,884
30

Stockport Englneering Tralnlng Assoclatlon Llmlted
Notes to the Consolldated Accounts
for the
ear ended 31 Jul 2020
17 CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group
Group
2020
2019
Ch8rlty
2020
Chartty
2019
Bank loan Isecur8dl
Obligations under finance lease and
hire pur¢hase contracts
463.770
487,785
463.770
487,785
5,858
489,628
27,552
515337
5,858
469.628
27,552
515337
1￿ year8
More than S years
133,267
336,361
469 628
145,470
369,867
515,337
133.267
336,361
469.628
145.470
369.8fj7
515 337
18 SECURITY
On 29 April 2(K)2 thè dlraolors of the charity executed a fir81 legal charge ovar the book debts of the
wholly owned subsldS8ry company.
Th8 bank108n and overdraft is secured by a legal ¢harg& over the freehold propety oflhe company.
19 Dtsforred Income
Defe￿8￿ Income ¢omprlsos advanced sal•$ for ¢ovrsè8, qu8rtèrfy membership and monltorlng which
are carried out Post year ond.
Group
2020
Charlty
2019
Balance as at 1 August 2019
196.754
13S,323
Amount released lo Incomè eamed
from charitablg activitie5
1196.7541
1135,323)
Amount deferred as at 31 July 2020
169,912
196,754
20
CALLED UP SHARE CAPITAL
SETA Tralnlng & AdvS80ry Strvl¢•$ Llmlted
Alloled, Éssued and lulty pald..
2020
2019
Cl8SS'.
Nominal value..
Ordlnary
1.000
SETA Tralnlrhg (Cyprusl Limlt4d
Alloted, Issued and lully pal(l..
2020
2019
Cl8SS'.
Nominal value..
Ordlnary
901
899
31

Stockport Enginoorlng Training Association Llmited
Notes to the Consolidated Accounts
forthe ear gndod 31 Jul 2020
21
FUNDS- GROUP
Unrestrlcted
Funds
Rastrlcted
Funds
Total
Tangible fixed assets
Nel current Iliabi11ti88ya8S818
Deferred IlabllltÉes
917,601
41,343
42,892
958,944
42,892
469,628
532 208
469.628
447.973
Balanc• at
1-Aug-2019
Income
Expenses
Transfers
Balanct
31 July 2020
Restricted lunds
Apprenilce ¢raining-9ovfyrnmenl fund
Loan stock
40,988
140,9881
Unr8slrictgd funds
General resorvè
Revaluation reserve
L08n 81ock
164,065
329.992
1,805,675
{1.808,5121
43,941
12,9531
205,169
327,039
494 057
1805 675
1.808,512
532,208
TOTAL
635.045
1 805 675
1808512
532 208
Name of Fund
Descrtption, nature and purposes of Ihe fund
Ggnerol reserve
The Yree reserves, 8ft8r ollowing for all das1gftat￿ funds.
Rovaluatlon re86Ne
The value of freeho￿ propèrty al markèt value in exces8 of
Carrylng value al hl8lor(cal cost.
Apprentic& tralning-govèmm8nl fund Th8"surplus" on government funded apprentices related lo all
learnèrs stlll "In lèarnlng. al the year end where restllclions may
apply to the funding until complètion of tha 8pprènllcÈship.
The Charfty hav6 rèviewed the Irealmgnl of Government funded Apprenllceship income in ihe year. The
tsuIcorn8 of the review was that the Sncome Is now reealved under a Gonlracl basis rather than grant
income 8nd. 88 such. 8hould not b8 treated as Reslricled income. Thè way thls lundlng Is now r6celved
rernoves the potentlal for'Clawback5" Irorn Ihg ESFA. The Iran8fer between lunds relates to the removal
of thé 8bovè funds frorn restficled income.
Operatlng Leases
2020
2019
Wlthln one year
Betwegn ttvo and five years
12,645
15,390
12,645
28,035
40.680
23
RELATED PARTY TRANSACTIONS
There WBS no r6lat8d p8ty trangacllons In thè p9ri0d.
32

StoGkport Engineerlng Training Assoclatlon Llmiled
Notes to the Consolidatgd Accounts
for the
ear anded 31 Jul 2020
24 ULTIMATE CONTROLLING PARTY
There wa8 no ulllmalo ¢onlrollSng party during the year und6r review or the preceding year.
2S RECRUITMENT OF TRUSTEES
Whan récruiting new Twstegs sevgr81 factors ar8 taken into account Includlng thè dlveislly of the prèsént
Board, currènt sklll gaps on thè Board. curwnl Qmployer represerrtation. RècomendBtlons may be made
by the Chief Execullv8 bul th6 ullimale declslon must be madg by the gxlsllng Board.
26 MANAGEMENT REMUNERATION
Deci8ions on managment remuneration lgvèls arè made by the Chief Executive tsklng Into account tha
job role, potrr group salary evaluations. appraI8815 and advlce frorn the Company Accountant.
The Chief Executives remunerg1Son Is ultlmately set by th8 Board.
27 RECONCIUATION OF NET MOVEMENT IN FUND5 TO NET CASH FLOW
FROM OPERATING ACTIVITIES
Group
2020
Group
2019
Charlty
2020
Charlty
2019
Nel movomant In funds
Add back depreciation chargg
Less profil on disposal of FA
Add back IGalnsyLosse8 on
revaluation of Fixed Asset$
Movement in Inveslm¢nls
D8duct interest income shown in
Investing aclivititsg
D8croase linereasel In stock
D&crease lincreasel in debtor8
Increase Idecrea8el in crgditors
12.8371
69,361
160,0481
78,894
{2,3271
69,361
169,8881
78,894
{21
{71
{1201
4.302
131.430
17,639
184,497
{731
13.3011
1110,2041
61,267
33,465
{31
131
31,974
25,094
124.097
84,303
125,807
67,492
33