OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-07-31-accounts

.

Registered Charity number 510520 (England and Wales) Company number.01512204

NLT TRAINING SERVICES LIMITED

A COMPANY LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

NLT TRAINING SERVICES LIMITED

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

CONTENTS

.

NLT TRAINING SERVICES LIMITED

Legal and administrative details

Chief Executive Mrs S Temperton Trustees Mr S Oxspring Mr S J Winfield Mrs A Melton Mr M Lovatt Registered Office Devonshire House Station Road Brimington Chesterfleld $43 1JU Registered Company Number 01512204 Registered Charity Number England & Wales 510520

Bankers

National Westminster Bank Plc 5 Market Place Chesterfield Derbyshire S40 1TW

Independent Examiner Mr Phillip Nicho!son Stopfords (Mansfield) Ltd Synergy House 7 Acorn Business Park Commercial Gate Mansfield Nottinghamshire NG18 1EX

1

:

NLT TRAINING SERVICES LIMITED

Chairs Report

NLT Training has continued to trade through 2022/2023, however the income received on courses sold has been slightly lower than fast year.

Key priorities continue to be the Leadership and Management courses and the e-learning platform with over 50 courses that are accessed online.

This year NLT has become an accredited centre with Highfields Awarding Organisation, and this will give the opportunity for some courses to be accredited in the NLT name whilst being delivered by the associates who work with NLT.

Business Development has continued to be sporadic throughout the year as the BDM was on matemity leave. Her return was short lived, and she decided to leave in February 2023. This meant a new recruitment process was needed to fill the post. Whilst NLT continued to be reactive to enquiries it also meant that no one was seeking new business on the Leadership and Management and e-learning courses.

The process used to store company data has been reviewed and acknowledgment of a proper CRM system has been made. This will now be a key part of the new Business Development Executives role as soon as one is recruited and engaged.

2

NLT TRAINING SERVICES LIMITED

Trustees Report (including Directors Report) for the year ended 31 July 2023

The Trustees present their report and financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019).

Governing document

NLT Training Services Limited is limited by guarantee and governed by its Articles of Association adopted on incorporation dated 13 August 1980, as amended on 20 February 1992, 25 October 1996, 21 May 2007, 16 March 2010 and 8 April 2079.

It is registered as a charity with the Charity Commission.

Trustees of the charity

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows:

Mr S Oxspring Mr S J Winfield . Mr F Benison (Resigned 8 November 2022) Mrs A Melton Mr M Lovatt

.

.

Appointment of directors

As set out in the Articles of Association the directors are appointed by the company from out of the members. The board of directors comprises the Chairman, the Vice Chairman and up to five other members (or such other numbers of members as the company, in general meeting, shall from time to time fix) appointed by the company in general meeting, each of whom shall be chosen as representing one of the persons or bodies which are ordinary members of the company or are representative members of the company. The board may also co-opt other persons as It thinks fit to join the board and vote.

Induction and tralning of directors

New directors undergo an induction process which aims to Inform them of their responsibilities as trustees of the charity.

Objects of the charitable company

The objects of the charity as set out in its Articles of Association are to promote and advance adequate training of persons employed or intending to be employed in industry and commerce, and to extend such training to members of the public generally.

The directors 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.

Public Benefit

The charity supports individuals in business communities to grow by developing their work related skills through training and development, coaching and mentoring and in some cases providing a financial bursary for those who would be unable to access the training due to poor financial circumstances.

3

NLT TRAINING SERVICES LIMITED

Trustees Report (including Directors Report) (continued) for the year ended 31 July 2023

Organisation of the charitable company

The board of directors administer the charity. The board meets at least quarterly and on a more frequent basis when it is : deemed necessary. A Chief Executive is appointed by the board to manage the day to day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within the terms of delegation approved by the directors, for operational matters including finance and employment.

Arrangements for setting pay and remuneration of key management personnel rest with the board of directors.

Achlevements and performance

This is covered within the Chair's report on page 2.

Financial review

NLT Training has had a different year this year and the overall income is slightly down from last year. The final figure for the year is £157,369. This is £5,397 down on last year and the income is made up solely of commercial sales on courses.

Despite this, the visual presence of NLT continues to improve through its social media advertising of courses, newsletters, and continual communication to the customer base.

At 31st July 2023 total unrestricted reserves show a surplus of £396,075 (2022 surplus £450,183).

Reserves (defined as Unrestricted Reserves less Intangible and Tangible Assets) showa surplus of £396,075 (2022 surplus £450,183).

Plans for the future

In reference to the 2022 plans; we repeat that the Business Development Executive (BDE) will now be recruited and focus on - targeted marketing and selling the Leadership & Management qualifications nationally alongside the e-leaming quals. The L&M is one of the most lucrative parts of the business and can easily be delivered to a national audience.

A complete review of the CRM system is now underway as we have acknowledged that Mail Chimp is not the right vehicle for our business. A proper client management system is needed to ensure we can target companies and build a record of the relationships we have with them. This will be a key task for the new BDE. The course facilitators are very good at keeping the regular customers warm and account managing them via normal reactive actions when processing bookings.

The safety passports continue to be a good product to deliver. NLT received a poor audit from ECITB in March and had to stop delivering the test only renewals for a short period of time. They were reinstated in August and continue to be popular with most of the contractors who need to renew their CCNSG card.

Highfields Awarding body offer online training too and the opportunity to deliver the CSCS online with a virtual invigilation has started to be more attractive to those who are too far away to attend the open courses. This is another course that can be sold through ‘Highfields Qualify at Home’ system.

4

NLT TRAINING SERVICES LIMITED

Trustees Report {including Directors Report) (continued) for the year ended 31 July 2023

Reserves policy

.

The charity aims to maintain adequate reserves sufficient to ensure that:

(a) _ its financial position is protected should there be a sudden downturn in income;

The reserves policy is monitored by meetings of the directors of the company. Should the level of reserves fall below the levels deemed sufficient, the directors closely monitor the performance of the charity with a view to increasing reserves back to levels that are considered to be adequate or take necessary critical steps to prevent further reduction in reserves.

Risk analysis

The directors have put in place a risk management strategy to pursue risk management goals and objectives. These goals and objectives include: :

|. Avoiding exposure to accidental loss by not undertaking events, contracts, or activities where the potential loss is greater than the potential benefit to be derived from these undertakings,

  1. Preventing loss by identifying potential loss exposures and implementing policies and procedures to reduce the risk of these losses occurring,

  2. Controlling losses that do occur by developing contingency plans for possible loss scenarios.

The directors consider the risks to which the charity is exposed and review the risk management strategy at board meetings.

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

By order of the board of directors;

Signed: \ Trustee: Mr S Oxspking

—th Date: Yan Cckebow Je,

5

:

NLT TRAINING SERVICES LIMITED

Independent Examiner's Report to the Trustees of NLT Training Services Ltd

| report to the trustees on my examination of the financial statements of NLT Training Services Limited (‘the charity’) for the year ended 31 July 2023 which are set out on the pages 2 to 15.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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, | report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the charity 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).

| 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.

Mr Phillip Nicholson for and on behalf of Stopfords (Mansfield) Ltd

Chartered Accountants Statutory Auditor

Date:

Synergy House

7 Acom Business Park Commercial Gate Mansfield Nottinghamshire NG18 1EX

6

NLT TRAINING SERVICES LIMITED

Statement of Financial Activities for the year ended 31 July 2023 Including Income and Expenditure Account

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Notes|Unrestricted|Total|Total| |2023|2023|2022| |£|£|£| |INCOME|AND|ENDOWMENTS|FROM:| |Charitable|activities|2|154,537|154,537|161,955| |Investments| |Interest|received|2,832|2,832|811| |Total|Income|and endowments:|157,369369|_-«+157,369—«:162,766157,369|162,766| |EXPENDITURE|ON:| |Charitable|activities|3|204,813|204,813|199,802| |Governance|costs|4|6,663|6,663|6,338| |Total|resources expended|211,476|-—«.211,476~——«-206,140| |Net Income/{expenditure)|(54,108)|(54,108)|(43,374)| |.|Other racognised|galns| |Gain/(Loss)|on|disposal|of fixed|assets|-|-|-| |Net movement in|funds|(54,108)|(54,108)|(43,374)| |Balances|brought forward|at|1|August|2022|450,183|450,183|493,557| |Balances|carried forward|at 31|July 2023|“396,075... ~+~«2396,075.-~=S«4'50, 183.|

----- End of picture text -----

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 9 to 15 form part of these financial statements.

7

NLT TRAINING SERVICES LIMITED

Balance Sheet ag at 31 July 2023

----- Start of picture text -----
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible fixed assets 6 1,213 5,662
Current assets
Debtors 7 46,452 70,129
Bank and cash 8 369,245 406,093
415,697 476,222
Creditors: Amounts falling due within
one year 9 20,835 31,701
Net current assets/(liabilities) 394 862 444,521
396,075 450,183
Creditors: Amounts falling due in more
than one year
Total assets less current liabilities 396,075 450,183
Charity funds
Revaluation reserve 10
Unrestricted funds 10 396,075 450,183
Total charity funds ~ 396,075, ~ [450,183]
----- End of picture text -----

For the financial year ending 31 July 2023 the charity was entitied to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the directors on:

----- Start of picture text -----
\
OR
Ny
Signed:
Chairman of Trusteéss, Mr S Oxspri
Registered Company Numbe 510520
Registered Charity Number 01512204
----- End of picture text -----

The notes on pages 9 to 15 form part of these financial statements.

8

NLT TRAINING SERVICES LIMITED

Notes to the accounts for the year ended 31 July 2023

1. Accounting policies

a. Basis of accounting

NLT Training Services Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Devonshire House, Station Road, Brimington, Chesterfield, Derbyshire, $43 1JU.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The company has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity. ;

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have besn consistently applied to all years presented unless otherwise stated.

b. Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical expenence and other factors that are considered to be relevant. Actual results may differ from these estimates.

)

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ‘

The following judgements that have had the most significant effect on amounts recognised in the financial statements are as follows:

Depreciation

The directors review depreciation rates and useful lives of the tangible fixed assets on an annual basis to ensure the effects of usage, wear and tear or technical obsolescence are reflected in the carrying value of the asset.

impairment

The directors review fixed assets for indications of impairment in conjunction with review of depreciation above. The company has policies in place to review assets on an ongoing basis.

Trade debtors

The trustees make provisions for doubtful debts based on an assessment of the recoverability of trade debtors. This methodology is applied on a customer by customer basis.

c. Going concern

The financial statements have been prepared on a going concem basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

9

NLT TRAINING SERVICES LIMITED

Notes to the accounts (continued) for the year ended 31 July 2023

d. Financial instruments

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

e. Income tax

As a registered charity, NLT Training Services Limited is exempt from corporation tax on income and gains falling within section 478 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

f. Funds accounting

Funds held by the charity are:

{a} Unrestricted general funds - these funds can be used in accordance with the charitable objects at the discretion of the trustees.

(b) Restricted funds - these are funds that can only be used for a particular restricted purpose within the objects of the charitable company. Restrictions arise when specified by the donor when funds are raised for particular purposes.

Incoming resources

Voluntary income is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Income from charitable activities, which includes income received under contract where entitlement to grant funding is subject to specific performance conditions, is recognised as earned as the related services are provided.

Resources expended

All expenditure is accounted for on an accruals basis. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Charitable activities include expenditure associated with the provision of training and include both the direct and support costs relating to these activities. Governance costs comprise the costs of complying with constitutional and statutory requirements. Support costs comprise the costs incurred by the company which are not direct costs of providing training but are incurred by the company in order to fulfil its charitable activities.

g. Tangible fixed assets

Tangible assets costIng more than £500 are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Workshop & classroom equipment 20% reducing balance/3-5 years straight line Fixtures, fittings & IT equipment 15-25% reducing balance/3-5 years straight line

10

NLT TRAINING SERVICES LIMITED

Notes to the accounts (continued) for the year ended 31 July 2023

Impairment of fixed assets

A review for indicators of impalrment is carried out at each reporting date, with the recoverable amount belng estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

h. Stock

Stock is stated at lower of cost and net realisable value.

i. Pension costs

The charitable company operates a defined contribution pension scheme. Contributions payable to this scheme are charged to the profit and loss account in the period to which they relate. These contributions are invested separately from the company’s assets.

]. lrrecoverable VAT

Irrecoverable VAT is calculated using a recognised scheme and is charged to the income and expenditure account as arising.

k. Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis.

I. Grants

. conditionsIncome fromhavegovernmentbeen met,andit isotherprobablegrantsthatare therecognisedincome willat befairreceived value whenand thethe amountcharity hascanentitlementbe measuredafterreliably.any performance

11

NLT TRAINING SERVICES LIMITED

Notes to the accounts (continued) for the year ended 31 July 2023

2. Income from charitable activities
Unrestricted Total Unrestricted Total
2023 2023 2022 2022
£ £ £ £
Training courses 151,950 151,950 161,955 161,955
Other income 2,587 2,587
154,537 154,537 161,955 181,955
3, Expenditure on charitable activities
Expenditure on chantable activities, Apprenticeships, StudyProgramme and OtherWorkplace Leaming
Activitiesundertakendirectly
Activities undertaken directly
Unrestricted Total Unrestricted Total
2023 2023 2022 2022
£ £ £ £
Tutors, associates and course fees 84,721 84,721 81,853 81,853
Wages/salaries 63,973 63,973 61,302 61,302
Employer's NIC 375 375 1,697 1,697
Pension casts 1,959 1,959 2,280 2,280
Other employee benefits 3,362 3,362 3,858 3,858
Training 323 323
Rent, rates &water 18,857 18,857 17,667 17,667
Light & heat 669 669 513 513
Repairs & maintenance 5,591 5,591 6,230 6,230
Insurance 1,587 1,587 1,287 1,287
Other establishment 1,584 1,584 1,924 1,924
Other motor/travel costs 2,484 2,484 4,405 4,405
Legal and professional fees
Telephone 1,331 1,331 1,043 1,043
Other office costs 4,670 4,670 3,365 3,365
Depreciation 4,874 4,874 4,854 4,854
Advertising and PR 8,453 8,453 7,524 7,524
Expenditure on charitable activities 204,813 204,813 199,802 199,802
4. Expenditure on charitable activitles (supportcosts)
Unrestricted Total Unrestricted Total
2023 2023 2022 2022
Governance costs £ £ £ £
Accountancy support 5,738 5,738 5,713 5,713
Independent examination/Audit fees 925 925 625 625
6,663 6,663 6,338 6,338

12

NLT TRAINING SERVICES LIMITED

Notes to the accounts (continued) for the year ended 31 July 2023

2023 2022
5. Staffcosts £ £
Wages and salaries 63,973 61,302
Social security costs 375 1,697
Pension costs 1,959 2,280
Other costs 3,362 3,858
.
69,669 69,137
Average number of staff - based on equivalent full time
Management, training and administration staff 3 3
During the year no employees received total employee benefits of more than £60,000.
The trustees received no remuneration or reimbursement ofexpenses during the year.
6. Tangible fixed assets
Cost voperty Workshop &
classroom
equipment		 Fixtures,
__sfittings&IT
equipment		 ire Total
£ £ £ £ £
At 1 August2022 14,560 14,560
Additions 425 425
Eliminated on disposal
At 31 July 2023 14,985 14,985
Depreciation
At 1 August 2022 8,898 8,898
Charge forthe year 4,874 4,874
Eliminated on disposal
At 31 July2023 13,772 13,772
Net book value
At 31 July 2023 1,213 1,213
At31July2022 5,662 5,662

There were no outstanding capital commitments at 31 July 2023.

13

NLT TRAINING SERVICES LIMITED

Notes to the accounts (continued) for the year ended 31 July 2023

2023 2022
7. Debtors £ £
Trade debtors 21,023 33,363
Prepayments and accrued income 16,879 11,372
PhoenixTechnology Group Ltd - Loan 8,550 25,395
Other debtors - -
46,452 70,129
The loan due from Phoenix Technology Group Ltd includes £ nil (2022 £8,550) due afterone year.
The loan term is 3 years atan interest rate of2%, the loan is unsecured.
2023 2022
8. Cash at bank and in hand £ £
National Westminster Bank 290,549 335,817
Yorkshire Bank 78,696 70,276
369,245 406,093
2023 2022
9. Creditors: Amounts falling due within one year £ £
Trade creditors 14,756 16,543
Accruals and deferred income 3,309 5,868
Social security and othertaxes 1,702 6,459
Othercreditors 1,068 2,831
20,835 31,701
10. Analysis ofcharityfunds
2022 Income Expenditure Galns/Losses Transfers 2023
£ £ £ £ £ £
Unrestricted funds
Revaluation reserve
General fund 450,183 157,369 (211,476) - 396,075
450,183 157,369 (211,476) - 396,075

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

14

NLT TRAINING SERVICES LIMITED

Notes to the accounts (contInued) for the year ended 31 July 2023

11.Analysis ofNetLiabilitiesbetween Funds 11.Analysis ofNetLiabilitiesbetween Funds NetCurrent
Tangible Assets/ Creditordue
Flxed Assets Liab’ after 1 year Total
£ £ £ £
Unrestricted Funds 1,213 394,862 - 396,075
Totalfunds at 31 July2023 1,213 394,862 - 396,075
12. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows:
; 2023 2022
£ £
Not laterthan 1 year 10,145 8,334
Later than 1 yearand not laterthan 5 years 13,017 8,800
23,162 17,134

13. Related Party Transactions

During the year the company made the following transactions with connected parties:

Purchased book keeping services totalling £6,175 (2022 £5,225) from Chatsworth Accounts Services Ltd, registered in England, in which Mr Martin Lovatt is a director and shareholder.

Purchased marketing services totalling £7,625 (2022 £6,970) from In The Works PR Ltd, registered in England, in which Mrs Anna Melton is a director and shareholder. £1,440 (2022 £1,428) remained payable at the balance sheet date.

Paid rent and service charges in respect of Devonshire House, Chesterfield, totalling £16,625 (2022 £9,247) to Phoenix Technology Group Ltd, registered in England, in which Mr Simon Winfield is a director and shareholder. £387 (2022 £387) remained payable at the balance sheet date.

Included in debtors is £8,550 (2022 £25,395) in respect of a loan made to Phoenix Technology Group Ltd, registered in England, in which Mr Simon Winfield is a director and shareholder. Interest is charged at commercial rates.

All transactions were made on commercial terms.

15