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2021-07-31-accounts

Page
Report of the trustees 1-8
Report of the independent
auditors		 9-11
Consolidated statement
offinancial		 activities 12
Consolidated balance sheet 13-14
Charity balance sheet 15-16
Statement
of		 Cash Flows and Consolidated Statement ofCash Flows 17
Notes forming part of the financial statements 18-33

Unrestricted Restricted Total Total
Funds
f		 Funds
E		 2021 2020
E
Notes
INCOME
Donations
and legacies		 3 98,543 98,543 109,720
Income from trading
activities		 4 655,963 655,963 548,049
Investment income 4 16 16 120
Income from charitable
activities:		 5 940,030 940,030 1,147,786
Total income 1,694,552 1,694,552 1,805,675
EXPENDITURE
Expenditure
on raising funds		 6 627,084 627,084 551,950
Expenditure
on charitable		 activities 7 1,106,188 1,106,188 1,256,562
Total Expenditure 1,733,272 1,733,272 1,808,512
NET EXPENDITURE 9 (38,720) (38,720) (2,837)
Gains/(Losses)
on revaluation		 of Fixed Assets 463,000 463,000
Net movement
offunds for the year		 424,280 424,280 (2,837)
RECONCILIATION
OF FUNDS
Total funds
brought
forward		 532,208 532,208 595,093
Funds balances carried forward 956,488 956,488 592,256

Consolidated
Balance Shee
as at 31 July 2021		 t
Notes 2021 2020
E E
FIXEDASSETS
Tangible assets 12 1,376,754 958,944
CURRENT ASSETS
Stocks 14 15,170 9,451
Debtors 15 317,583 263,014
Cash at bank and in hand 152,546 163,074
485,299 435,539
CREDITORS
Amounts
falling due within one
year 16 (356,113) (392,647)
NET CURRENT ASSETS 129,186 42,892
TOTAL ASSETS LESS
CURREN'T LIABILITIES 1,505,940 1,001,836
CREDITORS
Amounts
falling due after more
than one year 17 (549,452) (469,628)
NET ASSETS 956,488 532,208
FUNDS
General funds 21 956,488 532,208
TOTAL FUNDS 956,488 532,208

as at 31July 2 021
Notes 2021 2020
E F
FIXEDASSETS
Tangible assets 12 1,376,754 958,944
Investments 13 1,853 1,901
1,378,607 960,845
CURRENT ASSETS
Debtors 15 131,172 91,143
Cash at bank and
in hand		 30,784 18,043
161,956 109,186
CREDITORS
Amounts
falling due within one
year 16 (109,163) (128,978)
NET CURRENT LIABILITIES 52,793 (19,792)
TOTAL ASSETSLESS
CURRENT LIABILITIES 1,431,400 941,053
CREDITORS
Amounts
falling due after more
than one year 17 (549,452) (469,628)
NET ASSETS 881,948 471,425
FUNDS
General funds 881,948 471,425
TOTAL FUNDS 881,948 471,425

for the year ended 31 July 20 21
Group Group Charity Charity
2021 2020 2021 2020
6
Cash used in operating activities 27 74,493 184,497 106,001 124,097
Cash flows from investing
activities
Inierestlncome 16 120 3 3
Purchase of tangible fixed assets 15,875 20,076 15,875 20,078
Cash used in investing activites 15,859 19,958 15,872 20,075
Cash flows from financing
activites
Increase (repayment)
of		 borrowing 79,824 45,709 79,824 45,709
Cash used in financing activites 79,824 45,709 79,824 45,709
Increase/(decrease)
in cash and cash equivalents
in the year 10,528 118,830 42,049 58,313
Cash and cash equivalents
at the		 beginning ofthe year 163,074 44,244 72,833 14,520
Total cash and cash equivalents at the end
ofthe year

Group financial s tatements tatements
The consolidated accounts incorporate
the results of Stockport Engineering
Training
Association
Limited
('the Charity')
and		 its subsidiary undertakings;
SETA Training
& Advisory
Services
Limited
and SETA
Training
(Cyprus)		 Limited; on a line-by-line
basis.
The consolidated entity is referred to as 'the
Group'.
No separate
company
Statement
of Financial
Activities (SOFA) has been prepared for the Charity as permitted
by section 408 of the Companies		 Act
income
Income
is included
in the SOFA
income
will be received
and the
their value
to the charity
when
volunteers.		 when the charity
is entitled
to the income and when
it is probable
amount
can be measured
reliably.
Donations
in kind are recognised
they are received.
No amounts
are included
for services
donated		 that
at
by
Income comprise:
Donations
and legacies
Legacies Pecuniary
legacies
are recognised
as receivable
once probate
has been granted
and notification
has been received.
Residuary
legacies
are recognised
as receivable
once probate
has been granted,
provided
that sufficient
information
has been
received to enable valuation
ofthe Charity's
entitlement.
Donations Donations are accounted
for as they are received.
Gift Aid Gift Aid is included
based on amounts
recovered
or recoverable		 at
the accounting
date.
Activities for raising funds
Membership subscription Membership
subscription
income
(which
is not considered
to		 be
donations)
is accounted
for on an accrual basis.
Engineering training Income from providing
training
and courses are accounted
for on
an accrual basis.
Safety training Income from providing
training
and courses are accounted
for on
an accrual basis.
Schools training Income from providing
training
and courses are accounted
for on
an accrual basis.
Investment
income		 Investment
income is accounted
for on an accrual basis.
Income from charitable
activities
Apprentice training— Government
funding
is recognised
when the Charity
is entitled		 to
Government funded receipt on an accrual basis.
Apprentice training— Income is recognised
when
the Charity is entitled
to receipt on an
Other funded accrual basis.
members
services		 Income from
providing
training
and courses are accounted
for on
an accrual basis.
Government
Grant Income		 Coronavirus
Job Retention
Scheme
Furlough
income
is claimed
and accounted
for in the month that it relates to.

Administrative
ex enses		 Administrative
ex enses		 Staff Time 2021 2020
0/
Engineering training
income		 6.5 6.0
Safety and short courses 15.2 15.4
Apprentice training 47.3 49.1
Non-Government
funded		 apprentices 12.1 12.9
Schools/Study
Programme		 Training 3.4
Services to members 0.7
Governance 15.5 15.9
Trainin
Centre ex enses		 Staff Time 2021 2020
0/ 0/
Engineering training
income		 16.6 14.2
Apprentice training 64.0 70.6
Non-Government
funded		 apprentices 13.8 15.0
Schools/Study
Programme		 Training 5.6
Services to members 0.2
Governance
Short Course ex enses Staff Time 2021 2020
0/
Safety and short courses 100.0 97.6
Apprentice training 2.4
Non-Government
funded		 apprentices
Schools/Study
Programme		 Training
Services to members
Grou
Services ex enses		 Staff Time 2021 2020
0/
Engineering training
income		 1,6 1.6
Safety and short courses 2.9 2.9
Apprentice training 82.8 82.8
Non-Government
funded		 apprentices 11.3 11.3
Schools/Study
Programme		 Training
Services to members 1.4 1.4
Governance
Canteen ex enses
Dele		 ate Numbers 2021 2020
0/ 0/
Engineering training
income		 39.5 11.7
Safety and short courses 60.5 13.1
Apprentice training 75.1

to the Consolidated
Accou
e year ended 31July 2021		 to the Consolidated
Accou
e year ended 31July 2021		 to the Consolidated
Accou
e year ended 31July 2021		 nts
Premises ex enses
Floor Area		 2021 2020
0/
Engineering training
income		 28.4 28.4
Safety and short courses 13.3 13.2
Apprentice training-Government funded 12.3 11.1
Apprentice training-Other funded 27.0 36.3
Schools/Study
Programme		 Training 10.5
Services to members 1.4
Governance 8.5 9.6

Freehold
Property		 2% straight
line		 2% straight
line
Motor Vehicles 25% reducing balance
Plant and Machinery 15%reducing balance
Computer
Equipment		 20% straight line
Office Equipment 25% reducing balance

2021 2020
income 794,457 999,262
Gift aid from the subsidiary company 122,874 13,688
917,331 1,012,950
Expenditure on charitable activities (867,053) (862,864)
Governance costs (157,545) (152,413)
Gains/(Losses)
on revaluation		 of Fixed Assets 463,000
(561,598) (1,015,277)
Net movement
in funds		 355,733 (2,327)
Total funds brought
forward		 526,215 528,542
Total funds carried forward 881,948 526,215
Funds
Unrestricted funds 881,948 526,215
881,948 526,215
DONATIONS AND LEGACIES
Unrestricted Restricted 2021 2020
Funds f Funds 6 Total f Total
F
Government Grant Income 98,543 98,543 109,720
98,543 98,543 109,720
INCOME FROM OTHER 'TRADING ACTIVITIES
Unrestricted Restricted 2021 2020
Funds Funds Total Total
6 F 6 6
Other trading activities
Membership subscriptions 3,089 3,089 4,940
Engineering training
income		 190,115 190,115 172,538
Safety and short courses 390,159 390,159 370,571
Schools/Study
Programme		 Training 72,600 72,600
655,963 655,963 548,049
Investment income
Interest on cash deposits 16 16 120

No
for		 tes to the Consolidated
Accounts
the year ended 31July 2021		 tes to the Consolidated
Accounts
the year ended 31July 2021		 tes to the Consolidated
Accounts
the year ended 31July 2021		 tes to the Consolidated
Accounts
the year ended 31July 2021
5 INCOME FROM CHARITABLE ACTIVITIES
Unrestricted Restricted 2021 2020
Funds f Funds f Total f Total f
Apprentice training-Government
funded 761,839 761,839 917,469
Apprentice training-Other funded 177,254 177,254 220,717
Members
services		 937 937 9,600
940,030 940,030 1,147,786
6 EXPENDITURE ON RAISING FUNDS
Unrestricted Restricted 2021 2020
Funds f Funds f Total f Total f
Engineering training
Marketing 6,487 6,487 11,222
Staff costs 78,736 78,736 68,365
Training costs 18,569 18,569 19,852
Travel 7,643 7,643 13,994
Premises costs 47,061 47,061 35,796
Office and sundry costs 14,983 14,983 7,152
Depreciation 13,027 13,027 13,885
186,506 186,506 170,266
Safety and short courses
Marketing 9,530 9,530 9,270
Staff costs 204,444 204,444 188,265
Training costs 95,068 95,068 112,098
Travel 20,549 20,549 28,722
Premises costs 22,072 22,072 16,649
Office and sundry costs 22,576 22,576 18,133
Depreciation 7,288 7,288 8,547
381,527 381,527 381,684
Schools/Study
Programme		 Training
Marketing
Staff costs 30,694 30,694
Training costs 2,667 2,667
Premises costs 17,460 17,460
Office and sundry costs 3,917 3,917
Depreciation 4,313 4,313
59,051 59,051
TOTAL 627,084 627,084 551,950

port Engineering
Training Association
Limited
to the Consolidated
Accounts
e year ended 31July 2021		 port Engineering
Training Association
Limited
to the Consolidated
Accounts
e year ended 31July 2021		 port Engineering
Training Association
Limited
to the Consolidated
Accounts
e year ended 31July 2021
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted Restricted 2021 2020
Funds f Funds f Total
F		 Total f
Apprentice
training-government		 funded
Marketing 6,659 6,659 5,483
Staff costs 612,135 612,135 696,698
Training costs 75,597 75,597 102,377
Travel 7,456 7,456 7,661
Premises costs 20,398 20,398 13,949
Office and sundry costs 35,312 35,312 42,154
Depreciation 6,575 6,575 8,211
764,132 764,132 876,533
Apprentice
training-Other		 funded
Marketing
Staff costs 102,465 102,465 124,330
Training costs 6,756 6,756 10,228
Premises costs 44,860 44,860 45,792
Office and sundry costs 4,840 4,840 11,108
Depreciation 11,080 11,080 14,528
170,001 170,001 205,986
Member services
Marketing
Staff costs 2,597
Training costs 137
Premises costs 1,836
Office and sundry costs 1,775
Depreciation 1,487
7,832
Governance
costs (note		 7) 172,055 172,055 166,211
TOTAL 1,106,188 1,106,188 1,256,562
GOVERNANCE
COSTS
Unrestricted Restricted 2021 2020
Funds f Funds f Total
f		 Total f
Marketing 298 298 287
Staff costs 62,244 62,244 53,693
Training costs 3,113 3,113 252
Travel 4,669 4,669 5,335
Premises costs 14,106 14,106 12,109
Office and sundry costs 70,363 70,363 71,833
Depreciation 17,262 17,262 22,702
172,055 172,055 166,211

port Engineering
Training Association
Limited
to the Consolidated
Accounts
e year ended 31July 2021
NET RESOURCES EXPENDED BEFORE TRANSFERS 2021
E		 2020f
This is stated after charging:
Depreciation 59,545 69,361
Directors' remuneration 63,518 61,939
Pension costs 32,367 34,224
Auditors'
remuneration		 10,248 10,576

R.G Howarth 51,500 (2020 5750)
J.R. Moss 61,500 (202051,500)
M. Kidd 5750 (202050)
Total 63,750 (2020 62,250)
STAFF COSTS 2021 2020
F E
Staff costs during the year amounted to:
Wages and salaries 949,435 998,467
Social security costs 92,612 92,995
Pension costs 32,367 34,224
1,074,414 1,125,686
The average
number of employees		 during the year,
including
full time equivalents		 of part time employees, was:
Apprentice
training-government		 funded 12 8
Members services 1 3
Engineering
training		 8 10
Safety and short courses 4 3
Governance 7 8
32 32

TANGIBLE FIXEDASSETS - GROUP
Land and Plant and Motor
buildingsf machinery
etcf		 vehiclesf Totalf
Cost or valuation
At 1 August 2020 850,000 307,366 226,432 1,383,798
Additions 15,875 15,875
Deficit on revaluation 395,000 395,000
Disposals (75,818) (17,000) (92,818)
At 31 July 2021 1,245,000 247,423 209,432 1,701,855
Depreciation
At 1 August 2020 51,000 227,866 145,988 424,854
Charge for the year 17,000 22,551 19,994 59,545
Deficit on revaluation (68,000) (68,000)
On disposals (75,818) (15,480) (91,298)
At 31 July 2021 174,599 150,502 325,101
Net book value
At 31 July 2021 1,245,000 72,824 58,930 1,376,754
At 31 July 2020 799,000 79,500 80,444 958,944
historical cost:
2021f
Historical cost 702,356
Aggregate depreciation (228,345)
At 31 July 2021 474,011
Cost or val uation
at 31 July 2021 is represented
by;
Land and
Buildingsf
Historical cost 702,356
Revaluation 2006 555,825
Revaluation 2011 (495,858)
Revaluation 2017 87,677
Revaluation 2021 395,000
At 31 July 2021 1,245,000

INVESTMENTS - COMPANY
Unlisted
investmentf
Cost
At 1 August 2020 1,901
Movement (48)
At 31 July 2021 1,853
Net book value
31 July 2021 1,853
31 July 2020 1,901
Country of Class of
Subsidiary
Undertaking		 Incorporation Shares '/0 Held
SETA Training
and Advisory Services Limited		 England Ordinary 100'/0
SETA Training
(Cyprus)
Limited		 Cyprus Ordinary 100'/0
SETA International
Limited		 England Ordinary 99.8'/0

0/
Class of shares: holding Company
Number;		 03001863
Ordinary shares off1 each 100.00
2021f 2020f
Turnover 898,371 800,823
Cost ofsales and administration costs (706,033) (787,251)
Interest receivable 13 116
Interest payable
Tax
Net Profit 192,351 13,688
Amount gift aided to the charity (122,874) (13,688)
Retained in subsidiary 69,477

e year ended 31July 2021 31July 2021 31July 2021
SETA Training (Cyprus) Limited (Incorporated in Cyprus)
Nature of business: Providing health and safety courses industry
and		 commerce.
0/
Class ofshares:
Ordinary
shares		 of f1 each holding
100.00		 Company
Number;		 224453
2021 2020
E 6
Aggregate
capital and reserves
Profit/(Loss)
for the period		 4,616
~682)		 5,594
(519)
2021 2021 2020
E
Turnover 1,711 12,750
Cost ofsales and administration costs (2,393) (13,041)
Interest receivable
Corporation
Tax		 (228)
Net Profit ~1682 ~519)
Amount
gift aided to the charity
Retained in subsidiary (682) (519)
SETA International Limited (Incorporated in England and Wales)
Nature of business: Dormant
0/
Class ofshares: holding Company Number: 9992870
Ordinary shares of61 each 99.80
2021
6
Aggregate capital and reserves 1,000

STOCK
Group Group Charity Charity
2021 2020f 2021 2020
E
Centre materials 9,168 6,190
Registrations 900 1,627
Canteen 257 190
Stationery 613 842
Cleaning Materials 173 602
Course Books 4,059
15,170 9,451

DEBTORS
Group Group Charity Charity
2021 2020f 2021f 2020f
Trade debtors 124,884 129,985 3,007 7,452
Government funding receivable 104,282 53,600 104,282 53,600
Amounts due from Group
undertakings 4,411
Other taxes and social security costs 2,423 10,275 9,172
Prepayments and accrued income 79,282 71,625 7,301 9,109
Other debtors 6,712 7,804 6,307 7,399
317,583 263,014 131,172 91,143

CREDITORS: AMOUNTS CREDITORS: AMOUNTS FALLING DUE WITHIN ONE FALLING DUE WITHIN ONE FALLING DUE WITHIN ONE FALLING DUE WITHIN ONE YEAR
Group Group Charity Charity
2021
f		 2020
f		 2021f 2020f
Bank loan (secured) 34,399 22,414 34,399 22,414
Trade creditors 51,920 51,886 5,127 17,932
Obligations
under finance		 lease and
hire purchase
contracts		 5,858 21,695 5,858 21,695
Amounts
owed		 to group
undertakings
and
undertakings		 in
which
the
company		 has a
participating
interest
Accruals and deferred income 234,176 246,591 34,019 36,055
Other taxes and social security costs 24,124 40,652 24,124 22,673
Other creditors 5,636 9,409 5,636 8,209
356,113 392,647 109,163 128,978

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group Group Charity Charity
2021
E		 2020
6		 2021
f		 2020
E
Bank loan (secured) 549,452 463,770 549,452 463,770
Obligations
under finance		 lease and
hire purchase
contracts		 5,858 5,858
549,452 469,628 549,452 469,628
1-5years 200,103 99,761 200,103 99,761
More than 5years 349,349 369,867 349,349 369,867
549,452 469,628 549,452 469,628

are carri ed out post year end.
Group Group
2021 2020
6
Balance as at 1 August 2020 169,912 196,754
Amount released to income earned
from charitable activities (169,912) (196,754)
Amount deferred as at 31 July 2021 169,583 169,912
20 CALLED UP SHARE CAPITAL
SETA Training &Advisory Services Limited
Alloted, issued and fully paid;
Class: Nominal value: 2021f 2020
6
Ordinary F 1 1,000 1,000
SETA Training (Cyprus) Limited
Alloted, issued and fully paid:
Class: Nominal value: 2021
K		 2020f
Ordinary 853 899

FUNDS - G ROUP
F
Unrestricted Restricted
Funds Funds Total
f
Tangible fixed assets 1,376,754 1,376,754
Net current (liabilities)/assets 129,186 129,186
Deferred
liabilities		 (549,452) (549,452)
956,488 956,488
Balance at Income Expenses Transfers Balance
1-Aug-2020
F		 31July 2021f
Restricted funds
Loan stock
Unrestricted funds
General reserve 205,169 1,694,552 (1,733,272) 2,953 169,402
Revaluation reserve 327,039 463,000 (2,953) 787,086
Loan stock 532,208 2,157,552 ~1,733,2 277 956,488
TOTAL 532,208 2,157,552 ~1 733272}, , 956,488
Name of Fund Description, nature and purposes ofthe fund
General reserve The 'free reserves' after allowing for all designated funds.
Revaluation reserve The value offreehold property at market value
in excess		 of
carrying value at historical cost.
Operating Leases
2021f 2020f
Within one year 13,113 12,645
Between two and five years 28,016 15,390
Greater than five year 5,668
46,797 28,035

Group Group Charity Charity
2021 2020 2021 2020
E E 6 E
Net movement
in funds		 424,280 (2,837) 355,733 (2,327)
Add back depreciation charge 59,545 69,361 59,545 69,361
Sale of Fixed Assets 2,500 2,500
Less profit on disposal of FA (980) (980)
Add back (Gains)/Losses
on
revaluation of Fixed Assets (463,000) (463,000)
Movement in Investments 48 (2)
Deduct interest income shown in
investing
Decrease		 activities
(increase)
in		 stock (16)
(5,719)		 (120)
4,302		 (3) (3)
Decrease (increase)
in		 debtors (54,569) 131,430 (40,029) 31,974
Increase (decrease)
in		 creditors (36,534)
74,493)		 (17,639)
184,497		 (19,815)
~106,001)		 25,094
124,097