2022-07-31-accounts - Itec North East Limited

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		Page
Report ofthe Trustees	1	to	11
Report ofthe Independent Auditors	12	to	14
Statement ofFinancial Activities		15
Balance Sheet	16	to	17
Cash Flow Statement		18
Notes to the Cash Flow Statement		19
Notes tothe Financial Statements	20	to	28
Detailed Statement ofFinancial Activities	29	to	30

for	the Year	Ended 31Jul 20	22
				2022	2021
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
ESFA and similar activities		1,309,323	13,315	1,322,638	1,548,705
Miscellaneous other activities		260		260	3,912
Subcontractors		270,312		270,312	282,332
Youth Employment Initiative		141,412		141,412	99,863
Invesnnent income		410		410	63
Total		1,721,717	13,315	1,735,032	1,934,875
EXPENDITURE ON
Charitable activities
ESFA and similar activities		1,184,636	13,315	1,197,951	1,451,305
Subcontractors		229,764		229,764	233,636
Youth Employment Initiative		141,412		141,412	99,863
Other		1,000		1,000	500
Total		1,556,812	13,315	1,570,127	1,785,304
NET INCOME		164,905		164,905	149,571
RECONCILIATION OFFUNDS
Total funds brought forward		1,054,429		1,054,429	904,858
TOTAL FUNDS CARRIED FORWARD		1,219,334		1,219,334	1,054,429

		ITECNORTH EASTLIMITE	ITECNORTH EASTLIMITE	ITECNORTH EASTLIMITE	D
		BALANCE SHEET
		31JB		2022
						2022	2021
			Unrestricted		Restricted	Total	Total
				fund	funds	funds	funds
		Notes
FIXEDASSETS
Intangible	assets	12		35,000		35,000
Tangible	assets	13		28,271		28,271	21,172
				63,271		63,271	21,172
CURRENT ASSETS
Debtors		14		171,966		171,966	139,556
Cash at bank and in hand			1,441,101			1,441,101	1,314,685
			1,613,067			1,613,067	1,454,241
CREDITORS
Amounts	falling due within one year	15		(457,004)		(457,004)	(420,984)
NET CURRENT ASSETS			1,156,063			1,156,063	1,033,257
TOTAL	ASSETSLESSCIJRRENT
LIABILITIES			1,219,334			1,219,334	1,054,429
NET ASSETS			1,219,334			1,219,334	1,054,429
FUNDS		17
Unrestricted funds						1,219,334	1,054,429
TOTAL	FUNDS					1,219,334	1,054,429

					ITECNORTH EASTLIMlTED	ITECNORTH EASTLIMlTED
					CASH FLOW STATEMENT
					for the Year Ended 31Jul	2022
						2022	2021
					Notes
Cash flows from operating			activities
Cash generated &om	operations					181,960	417,428
Net cash provided by	operating activities					181,960	417,428
Cash flows from investing			activities
Purchase ofintangible	fixed		assets			(35,000)
Purchase oftangible	axed	assets				(20,954)	(5,369)
Interest received						410	63
Net cash used in investing		activities				(55,544)	(5,306)
Change in cash and	cash	equivalents		in
the reporting period						126,416	412,122
Cash and cash equivalents			at the
beginning ofthe reporting			period			1,314,685	902,563
Cash and cash equivalents			at the end	of
the reporting period						1,441,101	1,314,685

				2022	2021
Net income	for the	reporting period (as per the Statement ofFinancial
Activities)				164,905	149,571
Adjustments	for:
Depreciation	charges			13,855	13,791
Interest received				(410)	(63)
(Increase)/decrease		in debtors		(32,410)	48,057
Increase in creditors				36,020	206,072
Net cash provided		by operations		181,960	417,428
ANALYSIS	OF CHANGES IN NET FUNDS
			At 1.8,21	Cash flow	At 31.7.22
Net cash
Cash at bank	and in	hand	1,314,685	126,416	1,441,101
			1,314,685	126,416	1,441,101
Total			1,314,685	126,416	1,441,101

			2022	2021
Deposit account interest			410	63
INCOME FROM	CHARITABLE ACTIVITIES
			2022	2021
		Activity
ESFAincome		ESFA and similar activities	519,045	757,840
College income		ESFA and similar ~vities	409,068	330,651
Employer co-investment		ESFA and similar activities	8,128	17,613
Employer incentive	payments	ESFA and similar activities		37,500
PP income		ESFA and similar activities	10,262	162,477
TVincome		ESFA and similar activities	275,275	213,159
Kickstart		ESFA and similar activities	100,860	29,465
Other sales		Miscellaneous other activities	260	3,912
Subcontractors		Subcontractors	270,312	282,332
Youth Employment	Initiative	Youth Employment Initiative	141,412	99,863
			1,734,622	1,934,812

CHARITABLE AC	TIVITIES COSTS
		Direct	Support
		Costs (see	costs (see
		note 5)	note 6)	Totals
ESFA and similar activities		1,189,677	8/74	1,197,951
Subcontractors		229,764		229,764
Youth Employment	Initiative	141,412		141,412
		1,560,853	8,274	1,569,127
DIRECT COSTSOFCHARITABLE ACTIVITIES
			2022	2021
Staffcosts			833,888	950,592
Hire ofplant and machinery			1,504	1,539
Subcontractors			229,764	233,636
Insurance			6/10	6,978
Telephone			10,551	11+57
Postage and stationery			5,678	4,844
Advertising			56,919	15,394
Sundries			4,036	9,105
Training purchased			64,159	140,865
Trainees' expenses			5,819	~9,596
Tuition/course fees and registration			92,004	141,947
Disallowed VAT			44,994	17,848
Stafftraining			20,360	22,778
Rent and rates			80,772	90,222
Cleaning			8,950	2,330
Repairs and renewals			24,755	36,900
Motor and travel			15,520	6,514
Legal and professional			336	492
Bank charges			308	302
Trade subscriptions			19,490	17,595
Consultancy fees			20,981	i 4,450
Employer incentive	payments			37,500
Depreciation			13,855	13,790
			1,560,853	1,776,474

SUPPORT COSTS
		Governance
		costs
ESFA and similar activities		8,274
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated aAer charging/(crediting):
	2022	2021
Auditors' remuneration	4,950	4,950
Depreciation - owned assets	13,855	13,791
Hire ofplant and machinery	1,504	1,539

STAFFCO	S	TS
					2022	2021
Wages and	salaries				750,136	860,340
Social security		costs			69,505	74,845
Other pension		costs			16,247	17,407
					835,888	952,592
The average	monthly		number ofemployees	during the year was as follows:
					2022	2021
Management					6	6
Teaching and		learning			10	15
Recruitment					7	3
Information	technology					1
Administration		and accounts				4
Quality						2
					31	31

The num	ber ofemployees whose employee benefits (	excluding employer pension costs) exceeded f	60,000was
		2022	2021
F60,001	- f70,000	1
670,001	—f,80,000

COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES	COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES
	Unrestricted	Restricted	Total
	fund	funds	funds
INCOME AND ENDOWMENTS FROM
Charitable activities
ESFA and similar activities	1,511+05	37,500	1,548,705
Miscellaneous other activities	3,912		3,912
Subcontractors	282,332		282,332
Youth Employment Initiative	99,863		99,863
Investment income	63		63
Total	1,891,375	37,500	1,934,875
EXPENDITURE ON
Charitable activities
ESFA and similar activities	1,413,805	37,500	1,451,305
Subcontractors	233,636		~233,636
Youth Employment Initiative	99,863		99,863
Other	500		500
Total	1,747,804	37,500	1,785,304
NET INCOME	149,571		149,571
RECONCILIATION OF FUNDS
Total funds brought forward	904,858		904,858
TOTAL FUNDS CARRIED FORWARD	1,054,429		1,054,429

INTANGIBLE FIXEDASSET	S
					Systems
					aild
					web-based
					applications
COST
Additions					35,000
NET BOOKVALUE
At 31July 2022					35,000
At 31July 2021
TANGIBLE FIXEDASSETS
	Leasehold		Fixtures
	property	Office	an,d
	improvements	equipment	fittings	Sofbvare	Totals
COST
At 1 August 2021		148,040	16,773	2,700	167,513
Additions	9,750	11,204			20,954
Disposals		(109,808)		(2,700)	(112,508)
At 31July 2022	9,750	49,436	16,773		75,959
DEPRECIATION
At 1 August 2021		130,988	12,653	2,700	146,341
Charge for year		12,779	1,076		13,855
Eliminated on disposal		(109,808)		(2,700)	(112,508)
At 31July 2022		33,959	13,729		47,688
NKT BOOKVALUE
At 31July 2022	9,750	15,477	3,044		' 28,271
At 31July 2021		17,052	4,120		21,172

DEBTORS:AMOUNTS FALLING DUE WITHI	N ONK YEAR
	2022	2021
Trade debtors	18,657	7,474
Other debtors	6,280	7,032
VAT	14,369	2,118
Accrued income	114,962	102,943
Prep ayments	17,698	19,989
	171,966	139,556

	2022	2021
Trade creditors	40,555	82,820
Social security and other taxes	15,640	13,639
Other creditors		3/43
Accruals and deferred income	400,809	321,282
	457,004	420,984

				2022	2021
Within one year					13,925
MOVEMENT IN FUNDS
				Net
				movement	At
			At 1.8.21	in funds	31.7.22
Unrestricted	funds
General fund			1,054,429	164,905	1,219,334
TOTAL FUNDS			1,054,429	164,905	1,219,334
Net movement	in funds, included	in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
IJnrestricted	funds
General fund			1,721,717	(1,556,812)	164,905
Restricted funds
Kick Start Scheme			13,315	(13,315)
TOTAL FUNDS			1,735,032	(1,570,127)	164,905

				Net
				movement	At
			At 1.8.20	in funds	31.7.21
Unrestricted	funds
General fund			904,858	149,571	1,054,429
TOTAL FUNDS			904,858	149,571	1,054,429
Comparative	net movement	in funds, included	in the above are as follows: .
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted	funds
General fund			1,897,375	(1,747,804 )	149,571
Restricted funds
Employer Incentive Payments			37,500	(37,500)
TOTAL FUNDS			1,934,875	(1,785,304)	149,571

			Net
			movement	At
		At 1.8.20	in funds	31.7.22
Unrestricted	funds
General fund		904,858	314,476	1,219,334
TOTAL FUNDS		904,858	314,476	1,219,334

A current year 12 months and prior year 12 m as follows:	onths combined	net movement in	funds, included i	n the above
		Incoming	Resources	Movement
		resources	expended	in funds
Unrestricted funds
General fund		3,619,092	(3,304,616)	314,476
Restricted funds
Employer Incentive Payments Kick Start Scheme		37,500 13,315	(37,500) (13,315)
		5P,815	(50,815)
TOTAL FUNDS		3,669,907	(3,355,431)	314,476
CAPITAL COMMITMKNTS
			2022	2021
Contracted but not provided for in the financial	statements		17,500

	for the Year Ended	31Jul 2022
		2022	2021
INCOME AND ENDOWMENTS
Investment income
Deposit account interest		410	63
Charitable activities
ESFA income		519,045	757,840
College income		409,068	330,651
Other sales		260	3,912
Subcontractors		270,312	282,332
Youth Employment	Initiative	141,412	99,863
Employer co-investment		8,128	17,613
Employer incentive payments			37,500
PP income		10,262	162,477
TV income		275,275	213,159
Kickstart		100,860	29,465
		1,734,622	1,934,812
Total incoming resources		1,735,032	1,934,875
EXPENDITURE
Charitable activities
Wages		748,136	858,340
Social security		69,505	74,845
Pensions Hire ofplant and machinery		16,247 1,504	17,407 1,539
Subcontractors		229,764	233,636
Insurance		6,210	6,978
Telephone		10,551	11,257
Postage and stationery		5,678	4,844
Advertising		56,919	15,394
Sundries		4,036	9,105
Training purchased		64,159	140,865
Trainees' expenses		5,819	9,596
Tuition/course fees and registration		92,004	141,947
Disallowed VAT Stafftrainmg		44,994 20,360	17,848 22,778
Rent and rates		80,772	90,222
Cleaning		8,950	2,330
Repairs and renewals		24,755	36,900
Motor and travel		15,520	6,514
Legal and professional		336	492
Bank charges		308	302
Trade subscriptions		19,490	17,595
Consultancy fees		20,981	4,450
Employer incentive payments			37,500
Office equipment		12,779	12,478
Carried forward		1,559,777	1,775,162

		ITECNORTH EAST LIMITED	ITECNORTH EAST LIMITED
	DETAILED	STATEMENT OFFINANCIAL ACTIVITIES
		for the Year Ended 31Jul	2022
				2022	2021
Charitable activities Brought forward Fixtures and fittings				1,559,777 1,076	1,775,162 1,312
				1,560,853	1,776,474
Other Bad debt write off				1,000	500
Support costs
Governance costs Wages Auditors' remuneration Trustees indemnity insurance				2,000 4,950 1324	2,000 4,950 1,380
				8,274	8,330
Total resources expended				1,570,127	1,785,304
Net income				164,905	149,571