S. W. Durham Training Limited
Report of the Trustees and
Financial Statements
for the Year Ended 31 July 2024
Registered Company Number: 00918178
Registered Charity Number: 518211

S. W. Durham Training Limited
Contents of the Financial Statements
for the Year Ended 31 July 2024
Page
Report of the Trustees
Report of the Independent Auditors
8 to 10
Statement of Financial Activitlos
Balance Sheet
12
Notes to the Flnancial Statements
13 to 22
Detallad Statement of Financial ActlvitlO8
23

S. W. Durham Training Limited
Report of the Trustees
for the Year Ended 31 July 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their
report with the financial statements of the charity for Ihe year ended 31 July 2024. The trustees have adopled
the provisions of Accounting and Reporting by Charities: Statement of Recommended Praclice applicable to
charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019>.
OBJECTIVES AND ACTIVITIES
Charitable objectives
It is the objective of S W Durham Training Limited to provide a high-quality training service and promole a
lifetime of learning culture to meet the ongoing needs of individuals and the business community, to maximise
potential, to secure jobs and create wealth for the region.
ACHIEVEMENT AND PERFORMANCE
The charitable company continues to develop and deliver full time training for young people and adults in the
engineering sector, apprentice frameworks and bespokelcommercial training programmes to local and
regional organisations. providing lifelong learning opportunities within manufacturing, engineering and
commercial sectors.
FINANCIAL REVIEW
Personnel
The average number of employees throughout the period 2023124 was 12 (2022123: 14).
Reserves policy
The Council of Management consider the charitable company requires reserves to..
ensure that the current activities of the charitable company would be able to continue in the event of a
change
or significant drop in the level of funding.
allow the Council to react quickly to the training needs of the manufacturing and service industries in
our area,.
enable the charitable company lo continue to invest in fixed assets and maintain the freehold property
ina
high stale of repair.
In order to be prepared for these eventualities target reserves equating to 6 months of cash expendilure.
excluding Group recharges, are deemed appropriate., £500k. The Reserves Policy will be reviewed and
approved annually by the Council.
The Council has reviewed the level offree reserves held, which currently stand at £843,142 (2023: £840,748),
and considers this is adequate to ensure the continued operation of the charitable company. South West
Durham Training is forecast to return to a surplus position in the current year 2024125 and through 2025126
continuing to grow reserves.
Monthly management accounts are prepared to enable the Council to monitor the level of reserves on a timely
basis.

S. W. Durham Training Llmited
Report of the Trustees
for the Year Ended 31 July 2024
FINANCIAL REVIEW
Going concern
It is considered appropriate to adopt the going concern basis of accounting in preparing these financial
statements, on the basis that the company has the ability to continue to operate for a significantly longer period
than the statutory ￿e1ve months from Ihe date of approval.
The 2023124 financial statements see the company move from a £2k loss to a £243K gain {£43k loss before
capital granls recognised in full). SWDT has seen significant growth in 16-18 numbers in 2024125 year and
the quarter 1 forecast projecls a £135k surplus for the 2024125 year. Detailed cash flow forecasts have been
prepared which show that SWDT is forecast to have a positive cash position for at least 24 months from the
date of signing these financial statements.
Flnancial Year
The company finished the year in a surplus position., this was an improvement against the approved budget.
The Council of Management are proposing for approval at the annual general meeting that the fee structure
for the Iraining period commencing 1 August 2024 be as follows..
(a) thal a company sending a learner to the centre and having that learner with S W Durham Training Limited
will, providing the learner is eligible for full funding, not be charged whilst full funding is still available for that
learner and Ihey are aged 16-18 at the start of their framework. If the learner is not eligible for full funding. the
sponsoring company will pay the difference be￿een full funding and that received,.
(b) that companies will pay fees for their learner to altend work based learning and further education
subsequent to completion of apprenticeships framework.
COUNCIL OF MANAGEMENT
No fees have been paid to any Member of the Council of Management nor does any such member have any
beneficial interest.
Governing document
S W Durham Training Limited is a company limited by guarantee, incorporated in the United Kingdom and a
registered charity. The charitable company is governed by its Memorandum and Articles of Association, as
amended at the extraordinary general meeting of 17 October 2014.

S. W. Durham Training Llmlted
Report of the Trustees
for the Year Ended 31 July 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new council members
Council members, who are also truslees and directors of the charitable company, can appoint any nominated
member to act until the next Annual General Meeting at which time they are eligible for re-election.
Organlsational structure
The council members can meet as many times as they see fit. but generally they meet every three months.
Decisions will be made by a majority vote with the Chairperson having the casting vote. Day to day
management of Ihe charitable company is delegated to the General Manager.
Induction and trainlng of new council members
New council members are briefed on their legal obligations under charity and company law, the content of the
Memorandum and Articles of Association, the committee and decision making processes, recent financial
performance and future plans. They are introduced lo key employees and other council members. Council
members are encouraged to attend appropriate external training events where these will facilitate the
undertaking of their role.
Key management remuneration
Details of key management remuneration, which is set by the council having regard to the recommendations
of the remuneration committee of the parent Bishop Auckland College, are set out in note 8 to the financial
statements.
Investment powers
The council members may invest any monies in any manner authorised by law for the investment of such
funds.
Restrictions Imposed
No paid employee or person in receipt of fees or any other remuneration from the charitable company may be
a council member. However, any council member engaged by the charitable company in any profession will
be enlitled to be paid for any work done for the charitable company.
Publlc beneflt
The charitable company's aims and achievements are set oul within this report. The activities set out in this
report have been undertaken to further the charitable company's charitable purposes for the public benefit.
The council members have complied with the duty under Section 4 of the Charities Act 2011 to have due
regard to public benefit guidance published by the Charity Commission and the trustees have paid due regard
to this guidance in deciding what activities the Trusl should undertake.
The charitable company's activities in providing training for young people benefit the learners themselves as
well as employers and the wider community, providing opportunities to learners and contributing to the creation
of jobs and wealth for the North East.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
00918178
Registered Charlty number
518211
Registered office
Durham Way South
Aycliffe Business Park
NE￿ON AYCLIFFE
Co Durham. DL5 6AT

S. W. Durham Training Limlted
Report of the Trustees
for the Year Ended 31 July 2024
Trustees
Keith Ivory {Chair)
Shaun Hope (Joined 5th February 2024)
James Robson
David Bell
Bobby Taylor
Natslie Davison-Terranova (Left 31st December 2023)
The trustees, who constitute the Council of Management, are also the directors of the company for the
purposes of the Companies Act 2006.
Chief Executlve Officer
None
Executive Director
Jonathan Hall
Company Secretary
Lynn Heighton
Auditors
Armstrong Watson
First Floor
One Strawberry Lane
Newcastle upon Tyne
NE14BX
Sollcltors
Muckle LLP
Time Central
32 Gallowgate
NEWCASTLE UPON TYNE
NE14BF
Bankors
Barclays Bank PIC
PO Box 378
71 Grey Street
NEWCASTLE UPON TYNE
NE99 1JP

S. W. Durham Training Limited
Report of the Trustees
for the Year Ended 31 July 2024
CHAIRMAN'S STATEMENT
On behalf of the Council of Management, may I take this opportunity to thank all members of staff of S W
Durham Training Limited for their continued support and dedication to the success of the charitable company.
I would also like to take this opportunity to thank all our Member Companies for their high level of support
during the year.
This has been a challenging yearfor S W Durham Training dealing many challenges in the changing landscape
of education since the pandemic,. despite the challenges we have seen some growth in apprenticeship
numbers.
Keith Ivory
Chair
Date . 18th December 2024

S. W. Durham Training Limited
Report of the Trustees
for the Year Ended 31 July 2024
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees (who are also the directors of S. W. Durham Training Limited for the purposes of
company law are responsible for preparing the Report of the Trustees and the financial
stalements in accordance with applicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice).
Company law requires the Irustees to prepare financial statements for each financial year which
give a true and fair view of the slate of affairs of the charitable company and of the incoming
resources and application of resources, including the income and expenditure, of the charitable
company for that period. In preparing those financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently-,
observe the methods and principles in the Charity SORP.
make judgements and estimates Ihat are reasonable and prudent,.
prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charil8ble company and to enable
them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware..
there is no relevant audit information of which the charitable company's audilors are
unaware" and
the trustees have taken all steps that they ought lo have taken lo make themselves aware
of any relevant audit information and to establish thal the auditors are aware of that
information.
AUDITORS
The auditors. Armstrong Watson, will be proposed for re-appointment at the forthcoming Annual
General Meeting.
Approved by order of the board of trustees on 18th December 2024 and signed on its behalf by..
Keith Ivory- Trustee

Report of the Independent Auditors to the Members of
S. W. Durham Training Limited
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF S. W. DURHAM TRAINING LIMITED
Opinion
We have audited the financial statements of S. W. Durham Training Limited (the 'charitable company,) for the year
ended 31 July 2024 which comprise the Statemenl of financial activities, the Balance sheet, the 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 statemenls..
give a true and fair view of the state of the charitable company's affairs as at 31 July 2024 and of its
incoming resources and application of resources, including its income and expenditure for the year then
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,
Basls for opinion
We conducted our audit in accordance with International Slandards on Auditing (UK) (ISAS (UKII and applicable
law. Our responsibilities under those standards are further described in the Audilor's responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company 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.
Concluslons relating to golng 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 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.
Other information
The other information comprises the information included in the Annual report other than the financial statements
and our Auditor's report thereon. The Truslees 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 Ihe
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 slatements 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.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF S. W. DURHAM TRAINING LIMITED
(Continued)
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 including the Strategic report for the financial year for which
the financial statements are prepared is consistent with the financial slalements.
the Trustees, report and the Strategic report have 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 including the Strategic
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..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us,. or
the 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 811 the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities stalement, the Trustees on page 5 (who are also the
directors of the charitable company for the purposes of company lawl 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
misslatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the 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 charitable company or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibllltles 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 Auditor's 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 malerial 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:
We obtained an understanding of laws and regulations that affect the company, focusing on those that had a
direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and
regulations that we identified included the UK Companies Act, tax legislation and occupational health and
employment legislation.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF S. W. DURHAM TRAINING LIMITED
{Continued)
We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeling minutes
for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have
in place to ensure compliance.
We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We
enquired of the directors about any incidences of fraud that had taken place during the accounting period.
The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team
and tests were planned and performed to address these risks. We identified the potential for fraud in the
following areas: revenue recognition and management override of controls.
We reviewed financial statements disclosures and tested to supporting documentation to assess compliance
with relevant laws and regulations discussed above.
We enquired of the directors and third party advisors about actual and potential litigation and claims.
We performed analytical procedures to identify any unusual or unexpected relationships that might indicate
risks of material misstatement due to fraud.
In addressing the risk of fraud due to management override of internal controls we tested the appropriateness
of journal entries and assessed whether the judgements made in making accounting estimates were indicative of
a potential bias.
Due to the inherent limitations of an audit, there is an unavoidable risk that we may nol have detected some
material misstatements in the financial statements, even though we have properly planned and performed our
audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-
detection of irregularities, as these may involve collusion, forgery, internal omissions, misrepresentalions, or the
override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and
regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.
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.ukjauditorsresponsibilities. This description forms part of our Auditor's
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. Our audit work has been undertaken so that we might state to the charitable
cornpany's members those matters we are required to state to them in an Auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not a¢￿p1 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.
Simon Turner (Senior statutory auditor)
for and on behalf of
Armstrong Watson Audit Limited
11- 11 -loL£r-
Chartered Accountants & Statutory Auditors

S. W. Durham Training Limited
Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 July 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
fund
funds
Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
Income from activities and services
1,596,953
1,596,953
1,200.754
Investment income
13,108
13,108
Total
1,610,061
1,610,061
1.200,754
EXPENDITURE ON
Charitable actlvities
Charitable expenditure
1,240,416
126,603
1,367,019
1.202.862
NET INCOMEI(EXPENDITURE)
369,645
(126,603)
243,042
(2.108)
RECONCILIATION OF FUNDS
Total funds brought forward
1.582,079
1.342,267
2,924,346
2,926,454
TOTAL FUNDS CARRIED FORWARD
1,951,724
1215,664
3,167,388
2,924,346
The note5 fonn part of these financial statements

S. W. Durham Training Limited
Balance Sheet
31 July 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
funds
Notes
FIXED ASSETS
Tangible assets
10
1.108,579
1,215.664
2,324,243
2,083,597
CURRENT ASSETS
Debtors
Cash at bank
11
371,263
684,433
371,263
684,433
271,789
1,098,340
1,055,696
1.055,696
1,370,129
CREDITORS
Amounts falling due within one year
12
(212,554)
(212,554)
{529,381)
NET CURRENT ASSETS
843,142
843.142
840, 748
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,951,721
1,215,664
3,167,385
2,924,346
NET ASSETS
1951,721
1,215,664
3,167,385
2,924 346
FUNDS
Unrestricted funds
Restricted funds
14
1,951,721
1.215.664
1,582,079
1.342,267
TOTAL FUNDS
3,167,385
2,924,346
These financial slatements have been prepared in accordance with the provisions applicable to charitable
companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18th December
2024 and were signed on its behalf by..
Keith Ivory- Chair
The notes forn] part of these financial statements

S. W. Durham Tralning Limited
Notes to the Flnancial Statements
for the Year Ended 31 July 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102,
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),, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements
have been prepared under the historical cost convention, as modified by the revaluation of certain
assets.
The charitable company has availed itself of Paragraph 3{3) of Schedule 4 of Ihe Companies Act and
adapted the Companies Act formats to reflect the special nature of the charitable company's activities.
The financial statements are prepared in sterling (£).
Going Concern
The financial statements are prepared on the going concern basis which assumes that the charitable
company will continue to operate. If the company is unable to continue to operate, adjuslmenls would
be required to reduce the value of assets to their recoverable amounts, to provide for any further
liabilities thal might arise and to analyse both fixed assets and long term liabilities as current assets and
liabilities.
The charity had total funds of £3.167m as at 31 July 2024 (increase of £2.924m from 31 July 2023).
Budgets and cash flow forecasts have been updated to factor in the expected reduction in income and
a worst case scenario has been used to confirm that the charity has sufficient cash for the organisalion
to continue for at least 12 months from the date these financial statements are signed. At the lime of
approving the financial statements, the trustees have a reasonable expectation that the company has
adequate resources to continue in operational existence for the foreseeable future. Thus, Ihe trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
Flnanclal reporting standard 102- reduced disclosure exemptlons
The charitable company has taken advantage of the following disclosure exemptions in preparing these
financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland,:
the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabililies are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefils will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an Accruals basis and has been classified under headings that aggregate all costs
related lo the category. Where costs cannot be directly attributed to particular headings, they have been
allocated to activities on a basis consistent with the use of reSoUr￿s.
Allocation and apportionment of costs
Where costs cannot be directly attributed to particular headings, they have been allocated to activities
on a basis consistent with the use of resources.
continued...

S. W. Durham Training Limited
Notes to the Financial Statements - Continued
for the Year Ended 31 July 2024
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.
Freehold land & buildings
Plant, machinery, fixtures & equipment
40/0 on cost and 2% on ¢o$t
20Q/o on cost, 16.67D/o on cost, 100/0 on cost and 40/0 on cost
Motor vehicles
Computer equipment
250/0 on reducing balance
50 % on cost and 330/0-500/0 on cost
Related party ex•mptlon
The charitable company has taken advantage of exemption, under the terms of Financial Reporting
Standard FRS 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, not
to disclose related party Iransactions group entities.
14 | P ¢7 • e
continued...

S. W. Durham Training Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
ACCOUNTING POLICIES - continued
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance wilh the charitable objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Reslrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements.
Foreign currenclos
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.
Pension costs and other post-retirement beneflts
The charitable company operates a funded group pension plan arrangement, whereby it makes
contributions directly to each individual employees, pension plan. Contributions paid are included in the
period to which they relate.
Irrecoverable vat
The charity was partially exempt for VAT purposes for the period ended 31 July 2024. Irrecoverable
VAT has been included in the Statement of Financial Activities during the period within support costs.
Investments
Listed investments are included in the financial statements at market value at the balance sheet date.
Financial Instruments
The charitable company 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 wilh the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
Critical accountlng estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Crltical accounting estimates and assumptions:
The charitable company makes estimates and assumptions concerning the future. The resulting
accounting estimates and assumptions that have a significant risk of causing a material adjustment to
the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgement
Depreciation - Depreciation is calculated so as to write off Ihe cost of an asset, less its residual value,
over the economic life of that asset. An estimate of the useful life of assets is detailed in the depreciation
policy.
151Pa
continued...

S. W. Durham Tralning Limited
Notes to the Financial Statements - contlnued
for the Year Ended 31 July 2024
INVESTMENT INCOME
2024
Total
funds
2023
Tolal
funds
Unrestricted Restricted
funds
funds
Bank interest
13,108
13,108
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Activity
Apprentices & youthladult
training
Course fees
Income from activities and services
Income from activities and services
1,577,425
19,528
1,168,726
32,028
1,596,953
1,200.754
CHARITABLE ACTIVITIES COSTS
2024
2023
Charitable expenditure
Direct Cost
Support Costs
see note 5
604,578
Totals
Tolals
762,441
1,367,019
1,202,862
SUPPORT COSTS
Governance
costs
Management
Totals
Charitable expenditure
570 781
604,578
Support costs, included in the above, are as follows:
Management
2024
Charitable
expenditure
2023
Total
activities
Wages & salaries
Social security
Pensions
Advertising & publicity
General expenses
Irrecoverable VAT
Operating and maintenance costs
College recharges
Depreciation of tangible and heritage assets
14,233
1,757
832
21,534
12,810
38,556
135,732
190,000
155,327
13,373
1,561
958
2,779
8,187
23,707
135,972
190,000
103,256
570,781
479.793
161Pa 2e
continued...

S. W. Durham Training Llmited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
SUPPORT COSTS - continued
Governance costs
2024
Total
activities
2023
Total
activities
Auditors, remuneration
Accountancy and legal fees
29,280
4,517
14,400
6,021
33,797
20,421
NET INCOMEI(EXPENDITURE)
Nel incomel(expenditure) is stated after chargingl(crediting):
2024
2023
Auditors, remuneration
Deprecialion - owned assets
Operating leases
29,820
155,327
14,400
103,256
TRUSTEES. REMUNERATION AND BENEFITS
The trustees receive no emoluments for their services to the charitable company (2023: £Nil ).
Trustees, exponses
Trustees, expenses totalling £Nil were reimbursed during the year (2023: £Nil).
STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Other pension costs
465,456
43,160
55,277
448,734
38,355
52.340
563,893
539,429
The average monthly number of employees during Ihe year was as follows:
2024
2023
Training
Administration
12
14
Key management comprise the General Manager. Remuneralion of key management during the year
was £46,518 including £6,863 pension contributions (2023.. £46,961 including pension contributions of
£Nil ).
Zero employees received emoluments in excess of £60,000 {2023: Nil).
171Page
continued...

S. W. Durham Tralning Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Income from activities and services
1,200,754
1.200,754
Investment income
Total
1,200,754
1,200,754
EXPENDITURE ON
Charitable activities
Charitable expenditure
1,076,259
126,603
1,202,862
NET INCOMEI{EXPENDITURE)
124,495
{126,603)
(2,108)
RECONCILIATION OF FUNDS
Total funds brought forward
1,457,584
1.468,870
2,926,454
TOTAL FUNDS CARRIED FORWARD
1,582,079
1.342,267
2,924 346
10. TANGIBLE FIXED ASSETS
Plant,
machinery,
fixtures
& equipment
Freehold
land &
buildings
Molor
vehicles
Computer
equipment
Totals
COST
At 1 August 2023
Additions
At 31 July 24
4,804,380
8391
4,812,771
3,482,010
387,581
3,869,591
42,984
713,397
9,042,771
395,972
9,438,743
42,984
713.397
DEPRECIATION
Al 1 August 2023
Charge for year
3,245,467
2,957,326
100,160
42,984
713,397
6,959,174
155,326
At 31 July 2024
3,300,633
3,057,486
42,984
713,397
7,114,500
NET BOOK VALUE
Al 31 July 2024
1,512,138
812,105
2,324,243
At 31 July 2023
1,512,913
524,684
2,083,597
Included in cost or valuation of land and buildings is freehold land of £300,000 {2023.' £300,000) which
is nol depreciated. Freehold land was revalued as at 31 July 2014 by the trustees supported by an
independent valuation. On transition to FRS102 the freehold land is held at deemed cost.
181Pa
continued...

S. W. Durham Training Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
7,547
9,445
363,71
262,344
371,263
271,789
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Other creditors
Amounts owed to group undertakings
Social security and other taxes
Deferred income
Accruals
14,065
26,998
40,647
22,814
41,663
66,367
61,608
20,820
24,732
16,759
299,402
106,060
212,554
529.381
Deferred Income
Balance at 1 August 2023
Amount received and accrued in the year
Balance at 31 July 2024
(299,402)
1,612,169
41,663
Amount released to incoming resources
1,094,583
Deferred income relates to 16-19 programme funding income received and not
earned. This funding will be subject to clawback.
13. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024
2023
Within one year
Between one and five years
14. MOVEMENT IN FUNDS
Net
movement
in funds
At 01.08.23
At 31.07.24
Unrestricted funds
General fund
1,582,079
369,645
1,951,724
Restricted funds
The Core
1.342,267
(126.603)
1,215,664
TOTAL FUNDS
2,926.346
243,042
3.167,388
191Pa
continued...

S. W. Durham Training Limlted
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
14.
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
1,610,061
(1,240,416)
369,645
Restricted funds
The Core
(126,603)
(126.603)
TOTAL FUNDS
1,610,061
1,367,019)
243,042
Comparatives for movement in funds
Net
movement
in funds
At
31.07.23
At 01.08.22
Unrestrlcted funds
General fund
1,457.584
124,495
1,582,079
Restricted funds
The Core
1,468,870
(126,603)
1,342.267
TOTAL FUNDS
2,926,454
2,108)
2,924,346
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted funds
General fund
1,200,754
(1,076,259)
124,495
Restrlcted funds
The Core
(126,603)
{126,603)
TOTAL FUNDS
1,200,754
1,202.862)
20IPa
continued..-

S. W. Durham Training Limited
Notes to the Financial Statements - contlnued
for the Year Ended 31 July 2024
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows..
Net
movement
in funds
At 01.08.22
At 31.07.24
Unrestricted funds
General fund
1,457,584
494.140
1,951,724
Restricted funds
The Core
1,468,870
(253,206)
1,215.664
TOTAL FUNDS
2,926,454
240,934
3,167,388
A current year 12 months and prior year 12 months combined net movement in funds, included in the
above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
2,810,815
(2,316,675)
494,140
Restrlcted funds
The Core
(253,206)
(253,206)
TOTAL FUNDS
2,810,815
2,569,881)
240,934
Unrestricled funds: These funds represent unrestricted resources available for Ihe general work of the
charitable company.
The Core..
This is funds from Durham Counly Council for the creation of the advanced manufacluring facility known
as The Core (Creating Opportunities, Realising Excellence).
15. ULTIMATE PARENT COMPANY
The ultimate parent company is Bishop Auckland College, a college of further education incorporated
in the United Kingdom, which is the sole member of the charity. The consolidated accounts can be
obtained from the college al Woodhouse Lane, Bishop Auckland, County Durham. DL14 6JZ.
211Pa
continued...

S. W. Durham Training Limited
Notes to the Financial Statements continued
for the Year Ended 31 July 2024
16. CAPITAL COMMITMENTS
There were no capital commitments at 31 July 2023 or 2024.
17. RELATED PARTY DISCLOSURES
The charitable company has taken advantage of the exemption under FRS102 not to disclose
transaclions with UK parent company.
18. MEMBERS
The liability of the members of the charitable company is limited by guarantee and such liability does
not exceed £10 per member.
221Pa

S. W. Durham Training Limited
Detailed Statement of Financial Activities
for the Year Ended 31 July 2024
2024
2023
INCOME AND ENDOWMENTS
Investment Income
Bank interest
13,108
Charitable activitles
Apprentices & youthladult training
Course fees
1,577,424
19,528
1,168,726
32,028
1,596.952
1,200,754
Total incomlng resources
1,610,060
1,200,754
EXPENDITURE
Charltable activities
Wages and salaries
Social security
Pensions
Course & workshop expenses
Administration & monitoring
465,456
43,161
55,277
151,128
47,419
448,733
38,354
52,339
139,946
23,277
762,441
702,649
Support costs Management
Wages & salaries
Social security
Pensions
Advertising & publicily
General expenses
Irrecoverable VAT
Operating and maintenance costs
College recharges
Depreciation of tangible and heritage assets
14,233
1,757
832
21,534
12,810
38,556
135.732
190,000
155,327
13,373
1,560
957
2,778
8,186
23,706
135,972
190,000
103,256
570,781
479,788
Governance costs
Auditors, remuneration
Accountancy and legal fees
29,280
4,517
14,400
6,020
33,797
20,420
Total resources expended
1,367,019
1,202,862
Net expenditure
243,042
2,108)
231Page
This page does not forni part of the statutory financial statements