**Registered number: 1802908 Charity number: 515473**
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 10|
|**Independent auditors' report on the financial statements**|11 - 15|
|**Consolidated statement of financial activities**|16|
|**Consolidated balance sheet**|17 - 18|
|**Company balance sheet**|19 - 20|
|**Consolidated statement of cash flows**|21|
|**Notes to the financial statements**|22 - 38|
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025**
|**Trustees**|P McCooey|
|---|---|
||L J Ducket|
||L G Harman|
|**Company registered**
**number**
1802908
**Charity registered**
**number**
515473
**Registered office**
Unit 3
Louth Station Estate
Louth
LN11 0JT
**Company secretary**
P McCooey
**Chief executive officer**
I Dickinson
**Independent auditors**
Streets Audit LLP
Chartered Accountants and Statutory Auditor
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
**Solicitors**
Langleys
Olympic House
995 Doddington Road
Lincoln
LN6 3SE
**Bankers**
Lloyds TSB
Nottingham BSC
11 Low Pavement
Nottingham
NG1 7DQ||
Page 1
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025**
The Trustees present their annual report together with the audited financial statements of the Company for the year 1 August 2024 to 31 July 2025. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the group and the Company qualify as small under section 383 of the Companies Act 2006, the group strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The group and the Company also trade under the names First College.
## **Objectives and activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
It is understood that our services need to be beneficial in general and to a wide section of the community to comply with The Charity Commission. The charity's objectives as set out within the Memorandum of Association of East Lindsey Information Technology Centre are:
1. The promotion and advancement of education and training of the public, including the long term unemployed to acquire vocational qualifications and work related skills as required by local employers and industries as well as meeting national government targets by means of both instructor led, self study courses and the provision of practical experience.
2. The relief of unemployment for the public benefit in such a way as may be thought fit, including assistance to find employment.
Additionally set out within our business plan we have the following company objectives:
1. To remain financially viable
2. To provide high quality learning services
3. To adhere to our customer service values
4. To provide staff with a positive, rewarding and safe working environment
The company vision is to deliver high quality learning that raises participation and attainment while meeting the individual needs of learners through collaborative partnership working and employer engagement. First College is established to promote and provide for the advancement of the education and training of young persons and adults.
First College works closely with some 200 local employers and with Schools and Colleges of Further Education. First College primarily serves the East Lindsey area to the benefit of young people and adults with training, leading to the attainment of recognised qualifications and employment. First College is a member of the Association of Employment Learning Providers, which is the national body representing provider views.
Page 2
**EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025**
## **Achievements and performance**
## **a. Review of activities**
## **Planned Developments 2024/25 and results**
## **Review of company mobile telephones and complete distribution process**
Company mobile phones have been made available to the staff requiring them.
## **Successful outcome from Matrix reassessment**
The last Matrix inspection was June 2025 – Successful. The next full assessment is due in June 2026.
The UK Matrix accreditation is an international quality standard for organisations that deliver information, advice and guidance. The process involves an agreed assessment process where the quality and delivery of information and advice are assessed against the Matrix standard’s four main elements: leadership & management, resources, service delivery and continuous improvement. Achieving the standard demonstrates our commitment to excellence and quality.
## **Successful outcome in reassessment for Cyber Essentials and Cyber Essentials Plus**
Cyber Essentials achieved January 2025. Cyber Essentials Plus achieved April 2025.
Accreditation for both Cyber Essentials and Cyber Essentials Plus is very important to First College and evidences our commitment to protecting our core systems from Cyber attacks. Further to the accreditation process, all staff take part in regular ‘Cyber training’ activities for an up to date awareness of the pitfalls in this area.
## **Successful submission to new DfE workforce data collection portal**
Data was successfully submitted to the portal in December 2024.
## **Further develop relationship and collaborative work**
This development remains to be ongoing.
## **Complete a program of redecoration and general tidying up of the Ida Road Premises**
Both delivery rooms at Ida Road have been redecorated and re-carpeted including landing and stairway carpet. North parade has had some redecoration completed where required.
The redecoration process is in place to ensure as a company we provide both staff and learners with a safe working/learning environment, this is inline with our company objectives as listed in the Business Plan.
Page 3
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025**
## **Achievements and performance (continued)**
## **Consider delivering AAT qualifications again, carry out a review of the needs of the community and identify our offer**
A pathway to delivery has been Identified however we have not pursued this any further at this stage. Research into the finances of course delivery is required to be able to assess the potential benefit to both First College and the end user.
## **Review Participant spend arrangements in order to charge fees for training delivery**
Participant spend arrangements have been reviewed and fees are now being charged for training delivery.
## **Update all telephone systems where required to cloud based from ISDN**
All of the telephone systems are now running from cloud-based solutions. Although costs were involved in this update, savings should been seen moving forward from reduced call charges.
## **Produce a formal marketing plan for 1 – 2 years**
This development has been carried forward.
## **Carry out a full review of the website**
This development has been carried forward.
## **Increase meal numbers and identify new opportunities for First Meals**
Always ongoing.
## **b. Fundraising activities and income generation**
First College does not fundraise.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 4
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025**
## **b. Reserves policy**
The Charity holds reserves to ensure funds are available to maintain high quality training facilities, including up to date equipment and a safe working environment. In addition, reserves are held to ensure continuity in the event of a large variation in the net income and to bridge any cash flow problems. The Board aims to maintain an adequate level of reserves. This is expected to be 3 months running costs and the cost of a planned and managed closure of the Charity. The trustees review the reserve levels of the charity annually and are actively seeking ways to utilise the organisation’s reserves to advance the organisation relative to its business objectives.
The trustees have determined that the appropriate level of free reserves should be three months running costs and a planned closure which are estimated at £456,000. The reason for this is to provide sufficient working capital to cover delays between spending and receipt of grant income and to provide a cushion to deal with unexpected emergencies such as urgent maintenance or long term sickness where unforeseen costs are incurred.
The charity holds total reserves of £778,869 (2024: £872,494). Individually this is made up of unrestricted funds of £768,715 (2024: £861,663) and restricted funds of £10,154 (2024: £10,831). Free reserves being unrestricted funds less those tied up in tangible fixed assets amounted to £613,098 (2024: £702,068). In the year ended 31 July 2025 the Trust made an overall deficit of £93,623 (2024: surplus of £73,559). At 31 August 2025 the Trust held sufficient reserves to meet the free reserves requirement.
## **Structure, governance and management**
## **a. Constitution**
East Lindsey Information Technology Centre is a registered charity, number 515473, and a registered company, number 1802908. Its governing document is its Articles of Association.
The company carries out its activities under the trading name of “First College”.
The financial statements comply with current statutory requirements and the company’s governing document and Statement of Recommended Practice Accounting and Reporting by Charities.
## **b. Methods of appointment or election of Trustees**
The company may by ordinary resolution appoint a person willing to act as a trustee. For appointment at an AGM, formal notice is required as specified in the memorandum and articles. The existing trustees may appoint a person who is willing to act as a trustee. There is no maximum number of trustees but there must be at least 2 in office at any time.
## **c. Organisational structure and decision-making policies**
The registered office and names and addresses of advisers are set out on the Index page.
East Lindsey ITeC has three Trustees, one of whom is the Chairman. The Board sets policy, monitors progress and strives to provide good and sound governance.
The Trustees during the year under review are set out on the Index page. No remuneration was paid nor expenses reimbursed to them during the year. However, some of the trustees represent companies that purchase training services from the company as disclosed in the notes to the accounts.
The Company’s premises are in Louth and Skegness. First College provides learning through its centres, outreach delivery and employers premises.
Page 5
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025**
## **Structure, governance and management (continued)**
East Lindsey ITeC is sponsored by 3 local organisations. Each sponsor organisation provides up to two people to serve as directors and trustees on the East Lindsey ITeC Board. The Board sets policy, monitors progress and strives to provide good and sound governance.
The Senior Management function for First College has been deployed to one Senior Manager, who reports directly to the Board of Trustees. This is the Chief Executive.
The **Chief Executive** has overall responsibility for leading the company. The main responsibilities include day-today management of the business which include leading the company’s strategic planning and the implementation of policy. The Chief Executive reports to the Trustee’s in relation to policy. The main areas of overall responsibility for the Chief Executive are –
- Human Resources/Personnel
- Compliance with all relevant legislation impacting the running of the business
- Charity Commission requirements of the business
- Company financial overview
- Business activities including contractual management
- Developing new business opportunities
- Collaboration with external bodies
- Premises control, including IT services
- Health & Safety, Safeguarding, Equality, Diversity and Inclusion.
The **Finance Manager** takes the lead in Finance and is responsible for the production of the company’s management accounts and the maintenance of its financial systems. The role is to ensure the company meets all the statutory requirements when considering Audit and VAT compliance and in addition, supports the strategic planning process. Within this role, the Finance Manager will produce budgets and monthly accounts and process all financial transactions of the business.
The **Senior Executive Assistant** takes the lead in compliance and is responsible for ensuring that the company’s policies are kept up-to-date and closely monitored. The role also supports many other activities of the Chief Executive including all the arrangements for Trustees meetings. The role also has a pastoral support element to staff in the form of regular contact and ensured confidentiality.
The **Quality Manager** (Team Leader Business and Early Years) takes a lead on quality to ensure that all our processes that relate to learning activities outside of the welfare to work program are working effectively from a contractual and performance perspective. Within this role the quality manager is the nominee for Ofsted and therefore responsible for the self-assessment and quality requirements including internal and external audits.
The **Team Manager – Restart** takes a leading role in the delivery of the Restart subcontract through AKG. This role includes managing the team in the delivery of the contract and achieving the performance targets as stated within the contractual agreement. The Team Manager will support the staff in all aspects including the quality approach expected by the prime and work closely with the prime contractor.
The **Catering Manager – First Meals** is responsible for the delivery of school meals ensuring that the highest quality is maintained. The role includes working with schools to promote healthy eating in general and increase take up of school meals. The role also supports partnerships and attending meetings to assist schools.
The **Team Leaders** take a leading role in operational, performance and quality improvement matters ensuring cross-organisational consistency and standardisation. They will take a role in all matters relating to quality improvement including assessment, internal quality assurance, awarding body liaison and e-learning. There is a Team Leader in each of the following areas: Business and Early Years, Hospitality and Functional Skills and Recruitment.
Page 6
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025**
## **Structure, governance and management (continued)**
## **Working Groups**
The organisational structure is supplemented and supported by Working Groups comprising of staff from various occupational areas to concentrate on specific topics and tasks. Staff wishing to join Working Groups should speak with their Line Manager in the first instance. A wide involvement by staff is welcomed and encouraged. The Working Groups listed here are active in 2025/2026.
- Strategy Group
- Compliance Group
- Communication Group
- Quality Systems Group
- Marketing Group
## **Strategy Group**
The Strategy Group is led by the Chief Executive and comprises the Finance Manager and the Senior Executive Assistant. The Strategy Group considers operational and strategic issues. It consults and liaises with Staff, Managers and Trustees as appropriate.
## **Compliance Group**
The Compliance Group is led by the Senior Executive Assistant / Compliance Lead. The group exists to ensure the company remains legal in relation to all area’s affecting our business. The group also consists of the Chief Executive and the Business Support Advisor. The group maintain all policies relating to these areas. The Chief Executive is responsible for all staff employment conditions which include the contents of the Staff Handbook and all policy documents.
## **Communication Group**
The Communication Group exists to ensure that there is an ongoing and clear understanding of Contracts Performance, Quality Assurance and other factors affecting First College. The group will review and discuss contract performance, financial performance, delivery in accordance with contracts, Inspectorate and External Body requirements, Self-Assessment, legal obligations, infrastructure including premises and IT. The Chief Executive chairs the meetings with all Managers, Team Leaders and senior support staff.
## **Quality Systems / Self-Assessment and Inspection Working Group (Quality Group)**
The Quality Manager leads this group which keeps First College up to date on best practice in quality related matters. The group consists of the Quality Manager, the Team Leader Hospitality/FS and ASF Lead, the Senior Executive Assistant/Compliance Lead and the Administrative Coordinator as and when required. The group takes a leading role in all matters relating to self-assessment, audit, action planning and external inspection; whilst liaising closely with the Internal Quality Assurance and Assessment Standardisation.
## **Equality, Diversity and Inclusion**
The Board will consider Equality, Diversity and Inclusion issues at its Board Meetings on an ongoing basis. The Board nominates a Trustee to champion on the subject and as such they will annually review all policies and other documentation that relate to Equality, Diversity and Inclusion.
## **Data Protection and Information Security**
The Board will consider Data Protection issues at its Board Meetings on an ongoing basis and will annually review all policies that relate to Data Protection.
Page 7
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025**
## **Structure, governance and management (continued)**
## **Safeguarding**
The Board will consider Safeguarding issues at its Board Meetings on an ongoing basis and will annually review all policies that relate to Safeguarding.
Note: Other Staff Groups and/or forums are brought together from time to time to address matters that may require a specific input; these can include Marketing etc.
## **Board Committees**
## **Remuneration Committee**
A selected group of Trustees and the Chief Executive carry out an annual review of staff terms and conditions of service including salary, pension and travel arrangements that will be applied to all staff (including key management) annually. Any amendments required during the year as a result of a change in performance or job content are enacted by the Business Manager (working with in a +/ 10%) and reported to the Committee. The Board will follow Remuneration Committee recommendations.
## **d. Policies adopted for the induction and training of Trustees**
On appointment, all new trustees will be provided with the following documents:
- Memorandum of Association
- Articles of Association
- Charity Commission Guidance CC3 - Responsibility of Charity Trustees
- The latest Strategic Business Plan and a copy of the latest Financial Statements
## **e. Financial risk management**
The Trustees have assessed the major risks to which the Group and the Company are exposed, in particular those related to the operations and finances of the Group and the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 8
**EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025**
## **Plans for future periods**
1. Deliver two staff events per annum
2. Resolve the Marketing Strategy for the delivery on the ASF contract
3. First College Awards Event to recognise achievers, both learners and employers
4. Successful outcome in reassessment for Cyber Essentials and Cyber Essentials Plus
5. Successful submission to new DfE workforce data collection portal
6. Ida Road Premises – complete first floor offices redesignation
7. North Parade Premises – replace or update blinds with bespoke window film and replace chairs where necessary.
8. Louth Premises – replace oil tank and re-site oil tank
9. Successful outcome from Matrix full assessment
10. Continue to drive the number of learners on apprenticeships
11. Expand Early Years delivery further into Lincoln and North Lincolnshire
12. Increase meal numbers and identify new opportunities for First Meals
13. Keeping abreast of Greater Lincolnshire Combined Authority and Mayoral funds developments
14. Look for opportunities for First Meals staff to develop their skills towards First College activities
15. Work towards offering Level 5 Management qualifications
16. Carry out a full review of the website
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 9
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025**
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
## **Auditors**
The auditors, Streets Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**----- Start of picture text -----**
................................................
P McCooey
**----- End of picture text -----**
Date: 20 April 2026
Page 10
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **Opinion**
We have audited the financial statements of East Lindsey Information Technology Centre (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 July 2025 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the company balance sheet, the consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 July 2025 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 11
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LINDSEY INFORMATION TECHNOLOGY CENTRE (CONTINUED)**
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
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## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LINDSEY INFORMATION TECHNOLOGY CENTRE (CONTINUED)**
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Page 13
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LINDSEY INFORMATION TECHNOLOGY CENTRE (CONTINUED)**
## **Auditors' responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the charity through discussions with Trustees and other management, and from our knowledge and experience of the charity and sector in which it operates;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Companies Act 2006, Charities Act 2011, taxation legislation, data protection, anti-bribery, fundraising, food hygiene and safety, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and review of legal fees; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested a sample of bank payments to supporting purchase invoices;
- assessed whether judgments and assumptions made in determining accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance; and
- enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
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## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LINDSEY INFORMATION TECHNOLOGY CENTRE (CONTINUED)**
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Lizzie Saunby MAAT ACA BFP (senior statutory auditor)**
for and on behalf of
## **Streets Audit LLP**
Chartered Accountants and Statutory Auditor Tower House Lucy Tower Street Lincoln LN1 1XW
Date: 22/04/2026
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## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2025**
|**Note**
**Income from:**
Charitable activities
3
Other trading activities
4
Investments
5
**Total income**
**Expenditure on:**
Raising funds
6
Charitable activities
7
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**883,040**
**325,514**
**66**
**1,208,620**
**340,939**
**960,630**
**1,301,569**
**(92,949)**
**861,663**
**(92,949)**
**768,714**|**Restricted**
**funds**
**2025**
**£**
**-**
**-**
**-**
**-**
**-**
**677**
**677**
**(677)**
**10,831**
**(677)**
**10,154**|**Total**
**funds**
**2025**
**£**
**883,040**
**325,514**
**66**
**1,208,620**
**340,939**
**961,307**
**1,302,246**
**(93,626)**
**872,495**
**(93,626)**
**778,868**|**Total**
**funds**
_2024_
_£_
_1,005,514_
_374,976_
_64_
_1,380,554_|
|---|---|---|---|---|
|||||_356,568_
_950,426_
_1,306,994_|
|||||_73,560_|
|||||_798,935_
_73,560_
_872,495_|
The Consolidated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 22 to 38 form part of these financial statements.
Page 16
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE REGISTERED NUMBER: 1802908**
## **CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2025**
|**Note**
**Fixed assets**
Tangible assets
13
**Current assets**
Stocks
16
Debtors
17
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
18
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**|**1,044**
**136,259**
**684,218**
**821,521**
**(198,269)**|**2025**
**£**
**155,617**
**155,617**
**623,252**
**778,869**
**778,869**
**778,869**|_2,180_
_274,481_
_709,823_
_986,484_
_(273,585)_|_2024_
_£_
_159,596_|
|---|---|---|---|---|
|||||_159,596_
_712,899_|
|||||_872,495_|
|||||_872,495_|
|||||_872,495_|
Page 17
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE REGISTERED NUMBER: 1802908**
## **CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025**
|**Note**
**Charity funds**
Restricted funds
20
Unrestricted funds
20
**Total funds**|**2025**
**£**
**10,154**
**768,715**
**778,869**|_2024_
_£_
_10,831_
_861,664_|
|---|---|---|
|||_872,495_|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 20 April 2026 and signed on their behalf by:
................................................ **P McCooey** Trustee
The notes on pages 22 to 38 form part of these financial statements.
Page 18
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE REGISTERED NUMBER: 1802908**
## **COMPANY BALANCE SHEET AS AT 31 JULY 2025**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
14
**Current assets**
Debtors
17
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
18
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**|**200,509**
**628,855**
**829,364**
**(191,167)**|**2025**
**£**
**155,617**
**3**
**155,620**
**638,197**
**793,817**
**793,817**
**793,817**|_322,979_
_653,319_
_976,298_
_(263,403)_|_2024_
_£_
_159,596_
_3_|
|---|---|---|---|---|
|||||_159,599_
_712,895_|
|||||_872,494_|
|||||_872,494_|
|||||_872,494_|
Page 19
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE REGISTERED NUMBER: 1802908**
## **COMPANY BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025**
|**Note**
**Charity funds**
Restricted funds
20
Unrestricted funds
20
**Total funds**|**2025**
**£**
**10,155**
**783,662**
**793,817**|_2024_
_£_
_10,831_
_861,663_|
|---|---|---|
|||_872,494_|
The Company's net movement in funds for the year was _£_ (78,677) _(2024 - £68,644)_ .
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ **P McCooey** Trustee Date: 20 April 2026
The notes on pages 22 to 38 form part of these financial statements.
Page 20
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 22 to 38 form part of these financial statements|**2025**
**£**
**(15,859)**
**66**
**(9,812)**
**(9,746)**
**-**
**(25,605)**
**709,823**
**684,218**|_2024_
_£_
_88,541_
_64_
_(1,969)_
**(1,905)**
**-**
**86,636**
_623,187_
_709,823_|
|---|---|---|
Page 21
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **1. General information**
As set out in the trustees' report, East Lindsey information Technology Centre is an incorporated charity registered in England and Wales. The address of their registered office is First College, Unit 3, Louth Station Estate, Louth, LN11 0JT.
These financial statements have been prepared in sterling, which is the functional currency of the entity.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
East Lindsey Information Technology Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities in these financial statements.
## **2.2 Going concern**
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
## **2.3 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 22
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
|Freehold property|- 4% straight line (land is not depreciated)|
|---|---|
|Short-term leasehold property|- 10% straight line|
|Office equipment|- 25% straight line|
|Computer equipment|- 33% straight line|
## **2.7 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the consolidated statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
Page 23
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **2. Accounting policies (continued)**
## **2.8 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the consolidated statement of financial activities as a finance cost.
## **2.12 Financial instruments**
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.13 Pensions**
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
Page 24
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **2. Accounting policies (continued)**
## **2.14 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2025**
**£**
Adult Income
577,018
Youth Income
302,073
Commercial training and services
3,949
**Total 2025**
883,040|**Total**
**funds**
**2025**
**£**
**577,018**
**302,073**
**3,949**
**883,040**|_Total_
_funds_
_2024_
_£_
_703,405_
_298,158_
_3,951_
_1,005,514_|
|---|---|---|
Page 25
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **4. Income from other trading activities**
**Income from non charitable trading activities**
|**Unrestricted**
**funds**
**2025**
**£**
Sales
325,514
**Total 2024**
_374,976_|**Total**
**funds**
**2025**
**£**
**325,514**
_374,976_|_Total_
_funds_
_2024_
_£_
_374,976_|
|---|---|---|
||||
## **5. Investment income**
|**Unrestricted**
**funds**
**2025**
**£**
Investment income - local cash
66
**Total 2024**
_64_|**Total**
**funds**
**2025**
**£**
**66**
_64_|_Total_
_funds_
_2024_
_£_
_64_|
|---|---|---|
||||
## **6. Expenditure on raising funds**
## **Other trading expenses**
|**Unrestricted**
**funds**
**2025**
**£**
First Meals - operating costs
163,205
First meals- recharge of staff costs
177,734
**Total 2025**
340,939|**Total**
**funds**
**2025**
**£**
**163,205**
**177,734**
**340,939**|_Total_
_funds_
_2024_
_£_
_183,808_
_172,760_
_356,568_|
|---|---|---|
Page 26
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2025**
**£**
Charitable Activities
960,630
**Total 2024**
_949,756_|**Restricted**
**funds**
**2025**
**£**
677
_670_|**Total**
**2025**
**£**
**961,307**
_950,426_|_Total_
_2024_
_£_
_950,426_|
|---|---|---|---|
|||||
## **8. Analysis of expenditure by activities**
|Charitable Activities
**Total 2024**
**Analysis of direct costs**|**Activities**
**undertaken**
**directly**
**2025**
**£**
845,019
_841,447_|**Support**
**costs**
**2025**
**£**
116,288
_108,979_|**Total**
**funds**
**2025**
**£**
**961,307**
_950,426_|_Total_
_funds_
_2024_
_£_
_950,426_|
|---|---|---|---|---|
||||||
|Staff costs
Materials and purchases
Subcontract tutors
Staff travel
Trainee allowances
Telephone
**Total 2025**|**Charitable**
**Activities**
**2025**
**£**
601,104
50,856
51,788
11,115
121,342
8,814
845,019|**Total**
**funds**
**2025**
**£**
**601,104**
**50,856**
**51,788**
**11,115**
**121,342**
**8,814**
**845,019**|_Total_
_funds_
_2024_
_£_
_704,853_
_42,209_
_55,252_
_9,898_
_24,003_
_5,232_
_841,447_|
|---|---|---|---|
Page 27
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Depreciation
Rent and rates
Light and heat
Repairs and renewals
Advertising
Staff travel
Printing, postage and stationary
Telephone
Insurance
Legal and professional
Audit and Accountancy fees
Bank charges
VAT absorbed
Sundry
Bad debt provision
**Total 2025**|**Charitable**
**Activities**
**2025**
**£**
13,791
9,313
8,001
46,727
3,176
3,494
2,827
1,429
5,731
3,300
6,135
-
4,241
8,123
-
116,288|**Total**
**funds**
**2025**
**£**
**13,791**
**9,313**
**8,001**
**46,727**
**3,176**
**3,494**
**2,827**
**1,429**
**5,731**
**3,300**
**6,135**
**-**
**4,241**
**8,123**
**-**
**116,288**|_Total_
_funds_
_2024_
_£_
_17,553_
_8,594_
_9,563_
_34,817_
_2,188_
_4,578_
_2,278_
_2,139_
_5,777_
_4,570_
_6,554_
_146_
_3,640_
_6,494_
_88_
_108,979_|
|---|---|---|---|
## **9. Auditors' remuneration**
_-_ The auditors' remuneration amounts to an auditor fee of £4,900 _(2024 £4,900)_ , and accountancy, taxation and support services of of £1,235 ( _2024_ - _£1,242_ ).
Page 28
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2025**
**£**
**685,365**
**55,188**
**38,285**
**778,838**|**Group**
_2024_
_£_
_774,683_
_60,280_
_42,650_
_877,613_|**Company**
**2025**
**£**
**527,576**
**42,662**
**30,866**
**601,104**|**Company**
_2024_
_£_
_620,922_
_50,230_
_33,701_|
|---|---|---|---|---|
|||||_704,853_|
Included in Wages and salaries costs are voluntary redundancy payments totalling £9,879 (2024: £30,000).
The average number of persons employed by the Group during the year was as follows:
||**Group**|**Group**|
|---|---|---|
||**2025**|_2024_|
||**No.**|_No._|
|All staff|**27**|_29_|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**Group**|**Group**|
|---|---|---|---|
|||**2025**|_2024_|
|||**No.**|_No._|
|In the band £60,001|- £70,000|**1**|_-_|
## **11. Key management personnel**
The key management personnel of the charity are the Chief Executive, Finance Manager, Senior Executive assistant, Restart Manager, EY Team Leader and Catering Manager. The total employee benefits paid to the 6 members of key management personnel including employer national insurance and pension contributions (2024: 2 members) was £275,607 (2024: £148,454).
## **12. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 July 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ .
Page 29
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **13. Tangible fixed assets**
## **Group and Company**
|**Cost**
At 1 August 2024
Additions
At 31 July 2025
**Depreciation**
At 1 August 2024
Charge for the year
At 31 July 2025
**Net book value**
At 31 July 2025
_At 31 July 2024_|**Freehold**
**property**
**£**
**572,829**
**-**
**572,829**
**420,360**
**12,316**
**432,676**
**140,153**
_152,469_|**Short-term**
**leasehold**
**property**
**£**
**92,568**
**-**
**92,568**
**92,568**
**-**
**92,568**
**-**
_-_|**Office**
**equipment**
**£**
**180,484**
**-**
**180,484**
**175,828**
**920**
**176,748**
**3,736**
_4,656_|**Computer**
**equipment**
**£**
**274,752**
**9,812**
**284,564**
**272,281**
**555**
**272,836**
**11,728**
_2,471_|**Total**
**£**
**1,120,633**
**9,812**
**1,130,445**|
|---|---|---|---|---|---|
||||||**961,037**
**13,791**
**974,828**|
||||||**155,617**|
||||||_159,596_|
Page 30
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **14. Fixed asset investments**
|**Company**
**Cost or valuation**
At 1 August 2024
At 31 July 2025
**Net book value**
At 31 July 2025
_At 31 July 2024_|**Investments**
**in**
**subsidiary**
**companies**
**£**
**3**|
|---|---|
||**3**|
||**3**|
||_3_|
## **15. Principal subsidiaries**
The following were subsidiary undertakings of the Company:
|**Names**|**Company**|**Principal activity**|**Class of**|**Holding**|
|---|---|---|---|---|
||**number**||**shares**||
|First Meals Limited|10729159|School meal provision|Ordinary|100%|
|The Big Idea (Lincolnshire) CIC|08158999|Dormant|Ordinary|100%|
The financial results of the subsidiaries for the year were:
|**Names**|**Income**|**Expenditure**|**Net assets**|
|---|---|---|---|
||**£**|**£**|**£**|
|First Meals Limited|**325,514**|**(340,463)**|**(14,948)**|
First Meals Limited at the year end had net liabilities of £14,948 and the net assets of The Big Idea (Lincolnshire) CIC were £2. The Big Idea (Lincolnshire) CIC was dormant throughout the current and previous year. The registered office of the susidiairies is Unit 3 Louth Station Estate Louth Lincolnshire LN11 0JT.
Page 31
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **16. Stocks**
||**Group**|**Group**|
|---|---|---|
||**2025**|_2024_|
||**£**|_£_|
|Raw materials and consumables|**1,044**|_2,180_|
## **17. Debtors**
|**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Group**
**2025**
**£**
**57,186**
**-**
**45,940**
**33,133**
**136,259**|**Group**
_2024_
_£_
_207,046_
_-_
_40,291_
_27,144_
_274,481_|**Company**
**2025**
**£**
**71,438**
**50,000**
**45,940**
**33,131**
**200,509**|**Company**
_2024_
_£_
_191,795_
_63,753_
_40,289_
_27,142_|
|---|---|---|---|---|
|||||_322,979_|
## **18. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**Group**
**2025**
**£**
**38,665**
**36,011**
**7,469**
**116,124**
**198,269**|**Group**
_2024_
_£_
_53,172_
_58,346_
_6,371_
_155,696_
_273,585_|**Company**
**2025**
**£**
**34,645**
**34,845**
**7,469**
**114,208**
**191,167**|**Company**
_2024_
_£_
_48,694_
_54,558_
_6,371_
_153,780_|
|---|---|---|---|---|
|||||_263,403_|
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## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **19. Accruals and deferred income**
|Deferred income at 1 August 2024
Resources deferred during the year
**Deferred income at 31 July 2025**|**Group**
**2025**
**£**
**914**
**504**
**1,418**|**Group**
_2024_
_£_
_-_
_914_
_914_|**Company**
**2025**
**£**
**914**
**504**
**1,418**|**Company**
_2024_
_£_
_-_
_914_|
|---|---|---|---|---|
|||||_914_|
At 31 July 2025 and 31 July 2024 the Group held funds received in advance for the provision for course training for the subsequent year.
Page 33
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **20. Statement of funds**
|**Statement of funds - current year**
**Balance at 1**
**August 2024**
**£**
**Unrestricted funds**
General Funds
**861,664**
**Restricted funds**
Learning and Skills Council
**10,831**
**Total of funds**
**872,495**|**Income**
**£**
**1,208,620**
**-**
**1,208,620**|**Expenditure**
**£**
**Balance at**
**31 July 2025**
**£**
**(1,301,569)**
**768,715**
**(677)**
**10,154**
**(1,302,246)**
**778,869**|**Expenditure**
**£**
**Balance at**
**31 July 2025**
**£**
**(1,301,569)**
**768,715**
**(677)**
**10,154**
**(1,302,246)**
**778,869**|
|---|---|---|---|
||||**10,154**|
||||**778,869**|
**General Funds** - consists of funds for the use in the general futherance of the charitable objectives.
**Restricted funds** - Learning and Skills Council - constitutes a balance previously donated to be used in respect of the renovation of the Ida Road Property. This is being reduced in line with depreciation of the property.
Page 34
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **20. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Learning and Skills Council
Traineeship Bursary
**Total of funds**|**Balance at**
**1 August**
**2023**
_£_
_787,434_
_7,286_
_4,215_
_11,501_
_798,935_|**Income**
_£_
_1,380,553_
_-_
_-_
_-_
_1,380,553_|**Expenditure**
_£_
**Balance at**
**31 July 2024**
_£_
_(1,306,323)_
_861,664_
_(670)_
_6,616_
_-_
_4,215_
_(670)_
_10,831_
_(1,306,993)_
_872,495_|**Expenditure**
_£_
**Balance at**
**31 July 2024**
_£_
_(1,306,323)_
_861,664_
_(670)_
_6,616_
_-_
_4,215_
_(670)_
_10,831_
_(1,306,993)_
_872,495_|
|---|---|---|---|---|
|||||_6,616_
_4,215_
_10,831_|
|||||_872,495_|
## **21. Summary of funds**
## **Summary of funds - current year**
|**Balance at 1**
**August 2024**
**£**
General funds
**861,664**
Restricted funds
**10,831**
**872,495**|**Income**
**£**
**1,208,620**
**-**
**1,208,620**|**Expenditure**
**£**
**Balance at**
**31 July 2025**
**£**
**(1,301,569)**
**768,715**
**(677)**
**10,154**
**(1,302,246)**
**778,869**|
|---|---|---|
Page 35
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **21. Summary of funds (continued)**
## **Summary of funds - prior year**
|General funds
Restricted funds|**Balance at**
**1 August**
**2023**
_£_
_787,434_
_11,501_
_798,935_|**Income**
_£_
_1,380,553_
_-_
_1,380,553_|**Expenditure**
_£_
**Balance at**
**31 July 2024**
_£_
_(1,306,323)_
_861,664_
_(670)_
_10,831_
_(1,306,993)_
_872,495_|
|---|---|---|---|
## **22. Analysis of net assets between funds Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
149,678
Current assets
817,306
Creditors due within one year
(198,269)
**Total**
768,715|**Restricted**
**funds**
**2025**
**£**
5,939
4,215
-
10,154|**Total**
**funds**
**2025**
**£**
**155,617**
**821,521**
**(198,269)**
**778,869**|
|---|---|---|
Page 36
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **23. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement
Activities)
**Adjustments for:**
Depreciation charges
Dividends, interests and rents from investments
Decrease/(increase) in stocks
Decrease in debtors
Decrease in creditors
**Net cash provided by/(used in) operating activities**
**24.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**25.**
**Analysis of changes in net debt**
Cash at bank and in hand|of Financial
**At 1 August**
**2024**
**£**
**709,823**
**709,823**|**Group**
**2025**
**£**
**(93,626)**
**13,791**
**(66)**
**1,136**
**138,224**
**(75,321)**
**(15,862)**
**Group**
**2025**
**£**
**684,218**
**684,218**
**Cash flows**
**£**
**(25,605)**
**(25,605)**|**Group**
_2024_
_£_
_73,560_
_17,553_
_(64)_
_(321)_
_893_
_(3,079)_
_88,542_
**Group**
_2024_
_£_
_709,823_
_709,823_
**At 31 July**
**2025**
**£**
**684,218**
**684,218**|
|---|---|---|---|
Page 37
## **EAST LINDSEY INFORMATION TECHNOLOGY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
## **26. Pension commitments**
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £38,285 (2024: £42,650). Contributions totalling £5,100 (2024: £4,876) were payable to the fund at the balance sheet date and are included in creditors.
## **27. Operating lease commitments**
At 31 July 2025 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
||||**Group**|**Group**|**Company**|**Company**|
|---|---|---|---|---|---|---|
||||**2025**|_2024_|**2025**|_2024_|
||||**£**|_£_|**£**|_£_|
|Not later than|1|year|**5,500**|_5,000_|**5,500**|_5,000_|
## **28. Members' liability**
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.
## **29. Related party transactions**
Some of the trustees are mutual directors for companies that purchase training services from the company. The services provided are not on preferential terms.
Page 38