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2021-07-31-accounts

Page
Reference and Administrative
Details
Report of the Trustees 2 to 6
Report of the Independent
Auditors		 7 to 10
Statement
of Financial Activities
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 25
Detailed Statement of Financial Activities 26
TRUSTEES TRUSTEES D Goldsmith
G D Gittoes
C Rowles (resigned 6.8.21)
S Green
D J Hunt
N J Chatley (resigned 6.8.21)
D M Wood
COMPANY SECRETARY RJ Griffiths
REGISTERED OFFICE Holmer
Road
Hereford
HR4 9SX
REGISTERED COMPANY NUMBER 1475237 (England and Wales)
REGISTERED CHARITY NUMBER 512976
AUDITORS Thorne Widgery Accountancy Ltd
Chartered
Accountants
Statutory
Auditors
2 Wyevale
Business Park
Kings Acre
Hereford
Herefordshire
HR4 7BS
SOLICITORS Lanyon
Bowdler
12The Business Quarter
Eco Park Road
Ludlow
Shropshire
SY8 1FD
BANKERS Lloyds Bank PLC
8 High Town
Hereford
HR1 2AE
Key Management
Chief Executive N Morgan
Workforce Development Manager D Hider (until 28/07/2021)
Engineering Operations Manager A Jones
Quality and Continuous Improvement Manager J Jones
Commerce Operations Manager V Smith
Finance Manager BGriffiths

HWGTA Achievement HWGTA Achievement Rates Overall Achievement
2018/19 2019/20 2020/21
Cohort 220 242 238
Achieved 177 204 191
Achievement Rate 80.45Fo 84.30Fa 80.25%

Period
1.9.19
Year Ended to
31.7.21 31.7.20
Unrestricted Designated Restricted Total Total
fund fund fund funds funds
Notes E E E E E
INCOME AND ENDOWMENTS
FROM
Charitable
activities
Provision of training 2,839,019 2,839,019 2,599,387
Investment
income		 257,270 257,270 85,578
Total 3,096,289 3,096,289 2,684,965
EXPENDITURE ON
Raising funds
Investment
management		 costs 4 2,984 2,984 3,429
2,9&4 2,984 3,429
Charitable
activities
Provision of training 2,689,674 2,689,674 2,502,176
Total 2,692,658 2,692,658 2,505,605
NET INCOME 403,631 403,631 179,360
RECONCILIATION
OF		 FUNDS
Totai funds brought forward 3,476,124 3,476,124 3,296,764
TOTAL FUNDS CARRIED
FORWARD 3,879,755 3,879,755 3,476,124

31.7.21 31.7.20
Unrestricted Designated Restricted Total Total
fund fund fund funds funds
Notes E E E E E
FIXED ASSETS
Tangible assets 10 4,008,477 4,008,477 4,076,325
Investment
property		 11 845,000 845,000 845,000
4,853,477 4,853,477 4,921,325
CURRENT ASSETS
Debtors 12 432,276 432,276 241,809
Cash at bank 1,281,164 1,281,164 716,605
1,713,440 1,713,440 958,414
CREDITORS
Amounts
falling due within one
year 13 (417,366) (417,366) (261,127)
NET CURRENT ASSETS 1,296,074 1,296,074 697,287
TOTAL ASSETS LESSCURRENT
LIABILITIES 6,149,551 6,149,551 5,618,612
CREDITORS
Amounts
falling due after more
than one year 14 (2,269,796) (2,269,796) (2, 142,488)
NET ASSETS 3,879,755 3,879,755 3,476,124
FUNDS 18
Unrestricted
funds:
General
fund		 3,879,755 3,476,124
TOTAL FUNDS 3,879,755 3,476,124
Period
1.9.19
Year Ended to
31.7.21 31.7.20
Notes E E
Cash flows from operating activities
Cash generated
from operations		 272,396 369,328
Interest
paid		 (35,447) (41,980)
Rental income (255,331) (83,854)
Net cash (used in)/provided by operating activities (18,382) 243,494
Cash flows from investing activities
Purchase of tangible
fixed		 assets (10,680) (18,000)
Interest received 168,591 1,724
Rental income 255,331 83,854
Net cash provided by investing activities 413,242 67,578
Cash flows from financing activities
New loans in year 250,000
Loan repayments in year (80,301) (68,504)
Net cash provided by/(used in) financing activities 169,699 (68,504)
Change
in cash and cash equivalents		 in the
reporting
period		 564,559 242,568
Cash and cash equivalents at the
beginning
ofthe		 reporting period 716,605 474,037
Cash and cash equivalents at the end of
the reporting
period		 1,281,164 716,605

RECONCI LIAT ION
O		 F NET INCO ME TO NET CASH FLOW FROM OPERATING A CTIVITIES
Period
1.9.19
Year Ended to
31.7.21 31.7.20
E E
Net income for the reporting period (as per the Statement of Financial
Activities) 403,631 179,360
Adjustments for:
Depreciation charges 78,528 81,279
Interest received (168,591) (1,724)
Interest paid 35,447 41,980
(Increase)/decrease in debtors (190,467) 58,086
Increase in creditors 113,848 10,347
Net cash provided by operations 272,396 369,328

ANALYSIS OF CHANGES IN NET DEBT
At 1.8.20 Cash flow At 31.7.21
E E E
Net cash
Cash at bank and in hand 716,605 564,559 1,281,164
716,605 564,559 1,281,164
Debt
Debts fai(ing due within 1 year (96,667) (42,392) (139,059)
Debts falling due after 1 year (2,142,488) (127,308) (2,269,796)
(2,239,155) (169,700) (2,408,855)
Total (1,522,550) 394,859 (1,127,691)

Property
Improvements		 Straight Line over 10years
Fixtures
Ft Fittings		 Straight Line over 4 years
Plant
Et Machinery		 Straight Line over 10years
Hardware
& Software		 Straight Line over 3 years
IT Et Infrastructure 100%Straight line in year 1

Period
1.9.19
Year Ended to
31.7.21 31.7.20
Unrestricted Restricted Total Total
funds funds funds funds
E E E E
Rents received 88,679 88,679 83,854
Investment income 1,939 1,939 1,724
One-off investment income 166,652 166,652
257,270 257,270 85,578
INCOME FROM CHARITABLE ACTIVITIES
Period
1.9.19
Year Ended to
31.7.21 31.7.20
Activity E E
Government funds Provision of training 2,354,131 2,039,287
Employers contributions and
other course income Provision of training 453,592 453,791
Room hire Provision of training 3,166 6, 192
Grants - CJRS Provision of training 26,480 100,117
Other income Provision of training 1,650
2,839,019 2,599,387
Grants received, included in the above, are as follows:
Period
1.9.19
Year Ended to
31.7.21 31.7.20
E E
Covid Job Retention Scheme 26,480 100,117

Period
1.9.19
Year Ended to
31.7.21 31.7.20
Unrestricted Restricted Total Total
funds funds funds funds
E E E E
Interest payable and similar charges 2,984 2,984 3,429

Period
1.9.19
Year Ended to
31.7.21 3'i.7,20
E E
Depreciation - owned assets 78,528 81,280
Auditors' fees - statutory audit 5,945 5,745
Operating lease payments 32,980 32,635

Period
1.9.19
Year Ended to
31.7.21 31.7.20
E f.
Wages and salaries 1,362,082 1,221,383
Social security costs 143,975 125,361
Other pension costs 74,138 73,973
1,580,195 1,420,717

Period
1.9.19
Year Ended to
31,7.21 31.7.20
Key management 5 5
Traimng 31 33
Administration 9 9
45 47
Period
1.9.19
Year Ended to
31.7.21 31.7.20
E60,001 - E70,000 1
E70,001 - E80,000
COMPARA TIVES
FOR TH		 E ST ATEMENT OF FINANCIAL ACTIVITIES - 31 JULY 2020
Unrestricted Designated Restricted Total
fund fund fund funds
E E E E
INCOME AND ENDOWMENTS FROM
Charitable activities
Provision of training 2,599,387 2,599,387
Investment income 85,578 85,578
Total 2,684,965 2,684,965
EXPENDITURE ON
Raising funds
Investment management costs 3,429 3,429
3,429 3,429
Charitable activities
Provision of training 2,502,176 2,502,176
Total 2,505,605 2,505,605
NET INCOME 179,360 179,360
f r t e Ye r En
31		 ul
2		 ul
2		 021 021
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 31 JULY 2020 - continued
Unrestricted Designated Restricted Total
fund fund fund funds
E E E E
RECONCILIATION OF FUNDS
Total funds brought forward 3,296,764 3,296,764
TOTAL FUNDS CARRIED FORWARD 3,476,124 3,476,124
The designated fund is held for future dilapidation costs.
10. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
E E E
COST
At 1 August 2020 3,740,656 326,821 392,007
Additions 10,680
At 31 July 2021 3,740,656 326,821 402,687
DEPRECIATION
At 1 August 2020 128,112 287,300
Charge for year 32,682 19,595
At 31 July 2021 160,794 306,895
NET BOOK VALUE
At 31 July 2021 3,740,656 166,027 95,792
At 31 July 2020 3,740,656 198,709 104,707

1 0. TANGIBLE FIXED ASSETS - continued
Fixtures
and Hardware IT Et
fittings Et Software Infrastructure Totals
E E E E
COST
At 1 August 2020 34,001 64,045 33,766 4,591,296
Additions 10,680
At 31 July 2021 34,001 64,045 33,766 4,601,976
DEPRECIATION
At 1 August 2020 29,096 36,697 33,766 514,971
Charge for year 4,905 21,346 78,528
At 31 July 2021 34,001 58,043 33,766 593,499
NET BOOK VALUE
At 31 July 2021 6,002 4,008,477
At 31 July 2020 4,905 27,348 4,076,325
'I 1. INVESTMENT PROPERTY
FAIRVALUE
At 1 August 2020
and 31 July 2021 845,000
NET BOOK VALUE
At 31 July 2021 845,000
At 31 July 2020 845,000

DEBTORS: A MOUNTS
FALLING DUE WITHIN ONE YEAR
31.7.21 31.7.20
E E
Trade and other debtors 388,290 214,764
Prepayments and accrued income 43,986 27,045
432,276 241,809

31.7,21 31.7.20
E E
Bank loans and overdrafts (see note 15) 139,059 96,667
Trade and other creditors 186,361 74,940
Social security and other taxes 44,189 51,723
Accruals and deferred
income		 47,757 37,797
417,366 261,127
2021 2020
E E
Deferred
Income at		 1 August 2020 16,608 7,208
Released from previous years (16,608) (7,208)
Resources deferred in the year 3,763 16,608
Deferred
Income at		 31 July 2021 3,763 16,608

CREDITORS: AMOUNTS
F		 A LLI NG DUE AFTER MORE THAN ONE YE AR
31.7.21 31.7.20
E E
Bank loans (see note 15) 2,269,796 2,142,488
LOANS
An analysis of the maturity of loans is given below:
31.7.21 31.7.20
E
Amounts
falling due within		 one year on demand:
Bank loans 97,392 96,667
Coronavirus
Business Interruption		 Loan 41,667
139,059 96,667
Amounts
falling between		 one and two years;
Bank loans - 1-2 years 97,392 96,667
Coronavirus
Business Interruption		 Loan 50,000
147,392 96,667
Amounts
falling due between		 two and five years:
Bank loans - 2-5 years 292,176 289,698
Coronavirus
Business Interruption		 Loan 158,333
450,509 289,698

LOANS - continued
31.7.21 31.7.20
E E
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal 1,671,895 1,756,123

Other operating
leases
31.7.21 31.7.20
Expiring: E E
Within one year 24,672 33,326
Between one and five years 30 336 20 807
55 008 54 133

Land and Buildings
31.7.21 31,7.20
Expiring; E E
Within one year 47,392 49,233
Between one and five years
47 392 49 233
SECURED DEBTS
31.7.21 31.7.20
E E
2,408,855 2,239,155

Net
movement At
At 1.8.20 in funds 31.7.21
E E E
Unrestricted funds
General fund 3,476, 124 403,631 3,879,755
TOTAL FUNDS 3,476,124 403,631 3,879,755

Incoming Resources Movement
resources expended in funds
E E E
Unrestricted funds
General fund 3,096,289 (2,692,658) 403,631
TOTAL FUNDS 3,096,289 (2,692,658) 403,631
Comparatives for movement in funds
Net
movement At
At 1.9,19 in funds 31.7.20
I: E E
Unrestricted funds
General fund 3,296,764 179,360 3,476,124
TOTAL FUNDS 3,296,764 179,360 3,476,124
Incoming Resources Movement
resources expended in funds
E E E
Unrestricted funds
General fund 2,684,965 (2,505,605) 179,360
TOTAL FUNDS 2,684,965 (2,505,605) 179,360

for the Year Ended 31 Ju l
2		 021
Period
1.9.19
Year Ended to
31.7.21 31,7.20
E E
INCOME AND ENDOWMENTS
Investment
income
Rents received 88,679 83,854
Investment
income		 1,939 1,724
One-off investment income 166,652
257,270 85,578
Charitable
activities
Government
funds		 2,354,131 2,039,287
Employers
contributions		 and other course
income 453,592 453,791
Room hire 3,166 6, 192
Grants
- CJRS		 26,480 100,117
Other income 1,650
2,839,019 2,599,387
Total incoming
resources		 3,096,289 2,684,965
EXPENDITURE
Investment
management		 costs
Bank loan interest 2,984 3,429
Charitable
activities
Staff salaries 1,362,082 1,221,383
Social security 143,975 125,361
Pensions 74,138 73,973
Training
and courses		 533,375 566,623
Development
and		 acquisition expenditure 7,458 22,154
Premises costs 186,780 122,732
Office Costs 270,875 250,120
Improvements
to property		 37,260 32,682
Depreciation
plant		 8 machinery 15,017 18,750
Fixtures and fittings 4,905 8,499
Depn of hardware Et software 21,346 21,348
Bank loan interest 32,463 38,551
2,689,674 2,502,176
Total resources expended 2,692,658 2,505,605
Net income 403,631 179,360