|||Page||
|---|---|---|---|
|Reference and Administrative<br>Details||||
|Report of the Trustees|2|to|6|
|Report of the Independent<br>Auditors|7|to|10|
|Statement<br>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<br>Road||||
||||||Hereford||||
||||||HR4 9SX||||
||REGISTERED COMPANY|||NUMBER|1475237 (England||and Wales)||
||REGISTERED CHARITY|||NUMBER|512976||||
||AUDITORS||||Thorne Widgery Accountancy|||Ltd|
||||||Chartered<br>Accountants||||
||||||Statutory<br>Auditors||||
||||||2 Wyevale<br>Business Park||||
||||||Kings Acre||||
||||||Hereford||||
||||||Herefordshire||||
||||||HR4 7BS||||
||SOLICITORS||||Lanyon<br>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||||





## 

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## 



## 

## 

|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%|





## 

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|||||||||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<br>activities|||||||||
|Provision of training||||2,839,019|||2,839,019|2,599,387|
|Investment<br>income||||257,270|||257,270|85,578|
|Total||||3,096,289|||3,096,289|2,684,965|
|EXPENDITURE ON|||||||||
|Raising funds|||||||||
|Investment<br>management||costs|4|2,984|||2,984|3,429|
|||||2,9&4|||2,984|3,429|
|Charitable<br>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<br>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<br>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<br>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<br>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<br>funds:|||||||
|General<br>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<br>from operations||||||272,396|369,328|
|Interest<br>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<br>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<br>in cash and cash equivalents||||in the||||
|reporting<br>period||||||564,559|242,568|
|Cash and cash equivalents||at the||||||
|beginning<br>ofthe|reporting|period||||716,605|474,037|
|Cash and cash equivalents||at the end||of||||
|the reporting<br>period||||||1,281,164|716,605|





## 

## 

|RECONCI|LIAT|ION<br>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<br>Improvements|Straight|Line|over 10years||
|---|---|---|---|---|
|Fixtures<br>Ft Fittings|Straight|Line|over 4 years||
|Plant<br>Et Machinery|Straight|Line|over 10years||
|Hardware<br>& 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<br>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<br>31|ul<br>2|ul<br>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<br>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<br>income|||47,757|37,797|
||||417,366|261,127|
||||2021|2020|
||||E|E|
|Deferred<br>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<br>Income at|31 July 2021||3,763|16,608|



## 

## 

## 

|CREDITORS: AMOUNTS<br>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<br>falling due within||one year on demand:|||||
|Bank loans|||||97,392|96,667|
|Coronavirus<br>Business Interruption||||Loan|41,667||
||||||139,059|96,667|
|Amounts<br>falling between|one||and two years;||||
|Bank loans - 1-2 years|||||97,392|96,667|
|Coronavirus<br>Business Interruption||||Loan|50,000||
||||||147,392|96,667|
|Amounts<br>falling due between|||two and five years:||||
|Bank loans - 2-5 years|||||292,176|289,698|
|Coronavirus<br>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<br>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<br>2|021|||
|---|---|---|---|---|---|---|
|||||||Period|
|||||||1.9.19|
||||||Year Ended|to|
||||||31.7.21|31,7.20|
||||||E|E|
|INCOME AND ENDOWMENTS|||||||
|Investment<br>income|||||||
|Rents received|||||88,679|83,854|
|Investment<br>income|||||1,939|1,724|
|One-off investment||income|||166,652||
||||||257,270|85,578|
|Charitable<br>activities|||||||
|Government<br>funds|||||2,354,131|2,039,287|
|Employers<br>contributions|||and|other course|||
|income|||||453,592|453,791|
|Room hire|||||3,166|6, 192|
|Grants<br>- CJRS|||||26,480|100,117|
|Other income|||||1,650||
||||||2,839,019|2,599,387|
|Total incoming<br>resources|||||3,096,289|2,684,965|
|EXPENDITURE|||||||
|Investment<br>management|||costs||||
|Bank loan interest|||||2,984|3,429|
|Charitable<br>activities|||||||
|Staff salaries|||||1,362,082|1,221,383|
|Social security|||||143,975|125,361|
|Pensions|||||74,138|73,973|
|Training<br>and courses|||||533,375|566,623|
|Development<br>and|acquisition|||expenditure|7,458|22,154|
|Premises costs|||||186,780|122,732|
|Office Costs|||||270,875|250,120|
|Improvements<br>to property|||||37,260|32,682|
|Depreciation<br>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|