##
|||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|