Registered number: 02190605 Charliy number: 519889 HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmited by Guarantee) CONTENTS Page Relerence and Adminislrative Detalls of the Charitable company. its Trustees and Advisers Trustees. Report Independent Auditors, Report on the Financial Statements Statemenl of Financial Aclivllles 9-12 13 Balance Sheet 14-15 Stalemenl of Cash Flows Notes to the Flnanclal Slatemenls 17-30
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION {A Company Limlled by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees l. Coates, Specialisl Marine Consultants Ltd (resigned 1 December 2024) J. Doyle (resigned 1 March 20251 M. Gibbons, Siemens Energy Industrial Turbomachinery Ltd V. Jackson, Kingston Recruilment Ltd C. Jenkinson. Centrica Storage Ltd N. Mccracken (Chairl. formerly B.P. M. Ranson, Survilec A. Rhodes, Exolum Immingham Ltd Company registered number 02190605 Charity r8gistered number 519889 Registered office Malmo Road Sutton Fields Industrial Estale Hull East Yorkshire HU7 OYF Company secretary K. L. Shepherd Chief executive officer K. L. Shepherd Independenl auditors Streets Audil LLP Halifax House George Street Hull HU13AJ Bankers Natwest Bank plc Hull City Centre 34 Kind Edward Street Hull HU1 3SS Sollcllors Rollits LLP Citadel House 58 High Street Hull HU1 1QE Page 1
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report logether with Ihe audited linancial statements of the charilable company for the year 1 January 2024 to 31 December 2024. The Annual Report serves the purposes of both a Trustees, report and a directors. report under company law. The Trustees confirm that Ihe Annual Report and financial statements of the charitable company comply with the Current stalutory requirements. the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice {SORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS1021. Since the Charitable charitable company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required ol medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activitl8S a. Pollcles and objectives The objects for which the Association is established are.'_ {Al To promote and advance the theoretical and practical training and education of persons engaged in the Industries including bul not limited to health and salety, emergency rescuelresponse, medical and first aid. fire-fighting, accidenvincident investigalionlprevenlion and survival. {Bl Subject to the foregoing objects, to extend such provisions or assistance to the training and education of members of the public and employees/volunte8rs of other voluntary or smalllmedium enterprises generally. HOTA has always followed the policy of using any surplus funds generated to fulfil its charitable objectives. HOTA continues to provide RQF Approved First Aid training courses, Qualsafe and IOSH approved Health & Safety training courses and a range of Electrical Courses approved by City & Guilds and JTL to an increasing number of land based local organisations. Page 2
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance a. Maln achievements of the charitable company HOTA installed a Working at Height Tower in 2023 and gained approval from GWO for a number ol additional courses including Ihe Working at Height and Advanced Rescue Training and their respective relreshers courses in May 2023. Due to this expenditure HOTA saw a dramatic increase in Ihe number of delegates attending the GWO Basic Courses in 2024. The addition ol these courses meant that HOTA is the only Training Provider in the area that can conduct all the basic GWO Courses on one site and in any weather conditions. Income for GWO Courses in 2024 was £358,724 and specifically for Working at Heights £117.073 totalling £475,797. It is hard lo compare income from 2023 to 2024, as the Working at Height Tower only generated income from Q21Q3. However, in 2023 the lotal income from all other GWO courses was £244,650 and income specilically from Working at Heights was £39,097. HOTA'S continuous presence in all Induslries including Offshore, Maritime, Renewables and Onshore had been paramount throughout 2024. The company has still been able lo accommodate the demands ol the various induslries enabling skilled workers to carry on training io help support the UK'S Critical National Infraslruclure. HOTA achieved a grade 5 food hygiene rating in 2024 from the local council. Page 3
HUMBERSIDE OFFSHORE TFIAINING ASSOCIATION (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (conlinued) b. Key performance indicators Key Performance Indicators 2024 Health & Safety Target 1 Rlsk Assessmenl reviews- 75°A withln larget month, 100•h within 6 months of target. All Risk Assessment reviews were comp18ted within the timescales (target metl. Target 2 Complete 3 Emergency Drills per quarter. During the year 12 Emergency Drills have been completed including MER Exercise Training for the pool and fireground, MER Exercise Albert Dock, HUET Diver Training, Fire Drills etc {targel met). Slaff Targel 3 Minimum 20 hrs learning and developmenl time per staff member per year. All slaff have been enrolled in this process and are undertaking appropriale courses including Diving and lifeguard training, Health and Safety, Manual Handling, COSHH and Risk Assessment, Working at Heights, Fir8 Exlinguisher, First Aid and relevanl Continuous Personal Development. (target met}. Flnancial Targel 4 Average debtors. days al 45 days or less. In 2024 the average debtors, days up to the end ol December was on average 44 (target metl. Qualily Target 5 Set up 60 new Indlvldual Customer Accounts115 per quarter. For 2024, a total of new individual customer accounts set up were 66 Itargel metl. Targel 6 complaints In 2024, 98°/0 Customer satisfaction was achieved with no formal customerlslakeholder complaints Itargel metl. 98°A Customer Satlsfactlon measured by no more than 2% formal complaintslstakeholder Key Performance Indicators. Metrlcs and Key Activities 2024 In 2024, HOTA'S Key Performance Indicators were based around Health & Safety, Staff, Financial and Quality. Along with the Key Performance Indicators the Chief Executive and Trustees normally set a number of specific metrics and key aclivities for enhanced improvements across a range of areas. The main focus for these in 2024 was looking into the restructure and redesigning on of the old fireground to increase the firefighting provision and the possibility of a rebrand for the company. The Associalion successfully maintained its IS09001:2015, HOTA successlully Gompleted Stage 1 of the of the approval for both IS045001 Health & Safety and IS014001 Environment in December 2024 with Stage 2 to be undertaken in February 2025. 4 external audits were conducted by the relevant governing bodies including MCA, OPITO, ISOQAR and GWO and all were satisfactory. Stage 1 of the IS045001 and ISO14001 Standards were undertaken in December 2024. Page 4
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limlted by Guarantee) TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance (continued) c. Revlew ol activities Financial Review Belore depreciation, the charity made a surplus of £80.604 {2023'. deficit £83,877) After deprecialion, the charity reported a surplus lor the year of £13,68712023: deficit £151.191). At the balance sheet date, the Association had nel assets of £241.315 (2023.. £227,628) including 175,042 of net current assets {2023: £143,285). Revenue 202412025 In 2024, Ihe company saw an increase of 8.70/0 on income compared to 2023. The company is currently seeing a high demand for courses in all areas of HOTA'S training streams. especially th8 Global Wind Organisation Renewable courses. 202512026 will see a dramatic increase in the MCA STCW approved Maritime Refresher Training for all seafar8rs. Publlc Benefll Conflrmallon The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act, 2011 with regard to public benefit guidance published by the Commission. Throughoul 2024 HOTA offered discountedlfree courses to local companies and delegales as follows.. Delegates attending both the BOSIET and MIST course are given a discount on the urse fees. These discounts amount to over £16,000 in 2024. 12 slaff from Archbishop Sentamu attended the 1 Day Emergency First Aid at a reduGed fee of £40 per head, this reduction saved the school £300. 12 slaff from Molescroft Primary School attended Ihe 1 Day Emergency First Aid course at a reduced lee of £40 per head, Ihis reduction saved the school £300. 1 delegate from Hornsea Rescue attended the Capsize free of charge saving the charity £400. 22 sludents from Hull College attended the wel drill at a cost of £50 per person, this saved the college over £1.500. 27 students Irom Craven College attend the wel drill, saving the college over £1,500. Future Development HOTA has never stopped expanding and cjiversifying since its inception in 1989 and conlinues to investigate the feasibility of new training areas and further expansion. Further development is expecled to take place 2025 with a complete restructure of the company's old fireground. A new modern telephone system will be installed in the company together wilh a complete brand-new computer system. Page 5
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (conlinued) Financial review a. Going concern Th8 company has operated to a surplus in 2024, after incurring a deficit in 2023. This was mainly due to the high utility costs and repairs and maintenance costs. However, due to heavy investment lor the luture. the company should now start to see an increase in both demand and income from the offshore wind energy sector. Careful cashflow management should also see the company being able to replenish and increase the reserves lo ensure il will continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. b. Reserves pollcy HOTA has sel a target for cash reserves of £300k which will sustain HOTA for a period of up to 3 months without Irading. The figure would cover salaries, lease payments, renl and redundancies. As at the Balance Sheel date, the chariiy was holding £113k {2024.' £113k) in a separale deposit accounl against this target amount. 2026 should be very busy for the company with current seafarers undertaking their 5 yearly STCW10 Update courses, generating an increase within the Maritime income stream. Together with Ihe enhanced presence of the company within the Renewable Industry from the investment of the Working at Heighl Tower and Enhanced First Aid Training should see Ihe sales increased helping to replenish the reserve account. Page 6
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmlled by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management a. Constitution Humberside Offshore Training Association is registered as a charitable company limited by guarantee and was set up by a Trust deed. b. Methods of appolntmenl or electlon of Trustees The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under Ihe terms of the Trust deed. Plans lor future periods HOTA has never stopped expanding and diversifying since its inception in 1989 and continues to investigale the feasibility of new training areas and further expansion. Further development is expected to take place late 202412025 with a complele redevelopment of the one of the company's existing tiregrounds. This will enable HOTA to exlend their Firelighling Provision and include additional courses such as Helicopter Firefighting, Team Member and Team Leader Firefighling. Statement of Trustees. responslbllllles The Trustees {who are also Ihe directors of the charitable company for the purposes ol company law} are responsible for preparing the Truslees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Praclice). Company law requires the Trustees to prepare financial slatements for each financial year. Under company law, the Trustees must not approve the financial stalements unless they are satisfied thal they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial statements, the Truslees are required to: select suitable accounting policies and then apply them consistently.. observe Ihe methods and principles of the Charities SORP IFRS 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 charitable company will continue in business. The Trustees are responsible for keeping adequale accounting records that are sufficient to show and explain the charitable company's transactions and disclose wilh reasonable accuracy at any time the financial position of the charilable 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 charitable company and hence for taking reasonable sleps for the prevention and detection of fraud and olher irregularities. Page 7
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guaranlee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Dlsclosure of information to auditors Each of the persons who are Trustees at the time when this Truslees, Report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit information of which the charitable companWs 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 audil informalion and lo establish that the charitws auditors are aware of that information. Approved by order of the members of the board of Truslees and signed on their behalf by.. N.Mc (Chair Date.. acken Trustees) 0}09195 Page 8
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HUMBERSIDE OFFSHORE TRAINING ASSOCIATION Opinlon We have audited the financial statements of Humberside Offshore Training Association (the 'charitable company,) for the year ended 31 December 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 statements: give a true and fair view of Ihe slate of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordanc8 Wlth the requirements of Ihe Companies Acl 2006. Basls for opinion We conducted our audil in accordance with International Standards on Audiling (UK) IISAS (UK)} and applicable law. Our responsibilities under those slandards are further described in the Auditors, responsibilities lor the aLJdil of the linancial 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 slatements in Ihe United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordance with these requirements. We believe thal the audit evidence we have obtained is suff icienl and appropriate to provide a basis lor our opinion. Conclusions relatlng lo golng concern In auditing the financial statemenls, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial slatements 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 statemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. Page 9
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmlted by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (CONTINUED) Other information The other information comprises the informalion included in the Annual Report other than the linancial 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 staled in our report, we do not express any form ol assurance conclusion Ihereon. Our responsibilily is to read the other information and, in doing so, consider whether the other informalion is materially inconsistenl with the financial statements or our knowledge obtained in the course of the audit, or otheiSe appears to be materially misslated. If we identify such material inconsistencies or apparent material misstatemenls, we are required to delermine whether this gives rise to a material misstatement in Ihe 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. Oplnlon on olher matters prescribed by Ihe Companies Act 2006 In our opinion, based on the work undertaken in Ihe 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 stalements. the Truslees, Report has been prepared in accordance with applicable legal requiremenls. Mallers on which we are required to report by exception In Ihe light of our knowledge and understanding ol the charitable company and its environment obtained in the course of the audit, we have not identified material misstalements in the Trustees. Report. We have nothing io report in respect of Ihg following matters in relation to which Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or relurns adequate for our audit have not been received from branches not visited by us. or the financial stalemenls 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 informalion and explanations we require for our audit., or the Trustees were not enlilled 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 lo prepare a Strategic Report. Page10
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmiled by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (CONTINUED) Responsiblllties of trustees As explained more fully in Ihe Truslees, Responsibilities Stalement, the Trljstees (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 salisfied that they give a true and fair view. and for such inlernal control as the Trustees delermine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo 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 liquidale the charitable company or to cease operations. or have no realistic alternative but to do so. Audllors, responsibilities for the audit of the tlnancial statemenls 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 Audilors, Report that includes our opinion. Reasonable assurance is a high level of assurance, but is nol 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 wilh laws and regulations. We design procedures in line with our responsibilities, outlined above, to detecl material misstatements in respect of irregularities, including fraud. The exlent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. the engagement partner ensured that the engagemenl leam 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 lo Ihe charilable company through discussions with directors and other management, and from our commercial 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 charitable company, including the Companies Act 2006, latest Charities SORP, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. we assessed the extent ol compliance wilh Ihe laws and regulalions identified above through making enquiries of management and inspecting legal correspondence. 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 charitable company's financial stalements to material misstalemenl, 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 aclual, suspected and alleged fraud., and considering ihe internal controls in place to mitigate risks of fraud and non-compliance wilh laws and regulations. Page11
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION {A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (CONTINUED) 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 journal entries to identify unusual transactions. assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potenlial bias. investigated the ralionale behind significant or unusual transactions- and reviewed Trustee meeling minutes for evidence of appropriate decision-making and management controls. 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 wilh governance- enquiring of management as to actual and potential liligation and claims- and reviewing Correspondence with HMRC, relevant regulators and the chaitable company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed Ihal laws and regulations are Irom financial transactions, the less likely it is that we would become aware of non-compliance. Auditing slandards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibililies for the audit of the financial slatements is located on the Financial Reporting Council's websile at: www.frc.or .uklauditorsres onsibilities. 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. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required lo slate lo Ihem in an Auditors. Report and for no other purpose. To the fullest extent permitted by law. we do nol 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. Robert Anderson FCA (Senior Statulory Auditor) for and on behalf of Streels Audit LLP Halifax House George Street Hull HUI 3AJ Date.. Page12
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmlled by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Unreslricted funds 2024 Total funds 2024 Total runds 2023 Note Income from.. Donations and legacies Charitable activities Other income 20,511 2,290,951 2.342 20,511 2,290,951 2,342 15,431 2,110,834 2,098 Tolal income 2,313,804 2,313,804 2, 128,363 Expenditure on: Charitable activities 2,300,117 2,300,117 2,279,554 Total expendlture 2,300,117 2,300,117 2,279,554 Net movement In funds 13,687 13,687 (151,191) Reconcillation of funds: Total funds brought forward Net movemenl in funds 227,628 13,687 227,628 13.687 378,819 (151,191) Total funds carrled lonvard 241,315 241,315 227,628 The Statement ol Financial Aclivities includes all gains and losses recognised in the year. The notes on pages 17 to 30 lorm part of these financial statements. Page13
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION {A Company Limited by Guarantee) REGISTERED NUMBER: 02190605 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Flxed assets Tangible assets 338,518 365. 768 338,518 365. 768 Current assets Debtors Cash al bank and in hand 12 331,401 162,273 343, 142 157.028 493.674 500, 170 Creditors: amounts falling due within one year (319,225) (366.063) Net current assets 174,449 134,107 Total assets less Current liabllltles 512,967 499,875 Creditors.. amounts falling due after more than one year 14 (271,652) (272,247) Net assets excludlng penslon asset 241,315 227,628 Total net assets 241,315 227,628 Page 14
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limiled by Guarantee) REGISTERED NUMBER: 02190605 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 2024 2023 Nole Charity funds Unrestricted funds 241,315 227,628 Total funds 241,315 227,628 The Trustees acknowledge their responsibilities for complying with Ihe requirements of the Act with respect to accounting records and preparation of financial statements. The financial stalements have been prepared in accordance with the provisions applicable lo entities subject to the small companies regime. The financial statements were approved and aulhorised for issue by the Truslees and signed on their behalf by.. ken (Chair of Trustees) Date. o+ioq195 The notes on pages 17 to 30 lorm part of these financial statements. Page 15
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating activities Net cash used in operating activities 40,873 (104,057) Cash flows from investing aclivllies Purchase of tangible fixed assets Bank interest received {28,003) 2,342 (151,425) 2,096 Nel cash used in investing activlties (25.661) (149,327) Cash flows from financing activities Cash inflows from new borrowing Repaymenls of borrowing 285,000 (3,575) (9,967) Nel cash (used in)Iprovided by flnanclng acllvllles (9,967) 281.425 Change in cash and cash equlvalents in the year Cash and cash equivalents al the beginning of the year 5,245 28,041 157,028 128.987 Cash and cash equivalents at the end of the year 162,273 157,028 The notes on pages 17 to 30 form part of these financial statements Page16
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limiled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Information Humberside Offshore Training Association is a company limited by guarantee incorporated in England, number 02190605. The registered olfice is Malmo Road, Sutton Fields Industrial Estate. Hull, HU7 OYF. Accountlng pollcles 2.1 Basls of preparallon ot flnancial slatemenls The financial stalements have been prepared in accordance wilh the Charities SORP {FRS 1021 Accounting and Reporting by Charilies.. Statemenl of Recommended Practice applicable to charilies preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Financial Reporting Standard applicable in Ihe UK and Republic ol Ireland {FRS 1021 and Ihe Companies Acl 2006. Humberside Oflshore Training Association meels Ihe 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 accounling policy. The Charity's financial statements are presented in Sterling and all values are rounded to the nearest pound. 2.2 Going concern The company has operated lo a surplus in 2024, after incurring a deficit in 2023. This was mainly due to the high utility costs and repairs and maintenance costs. However, due to heavy investment for the future. Ihe company should now start to see an increase in both demand and income from the offshore wind energy sector. Careful cashflow management should also see the company being able to replenish and increase the reserves to ensure it will continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 2.3 Income All income is recognised once the charitable company has entitlement to the income, il is probable that the income will be received and the amount ol income receivable can be measured reliably. Income from Charitable Activities represents the amount receivable by the charity. exclusive of VAT, lor the provision of training to outside delegates. Income is recognised based upon the date the training takes place. Donated assets are valued at their eslimated markel value at Ihe lime of receipt plus any associated relocation costs. Page17
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.4 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, il is probable Ihat a transfer of economic benefits will be required in seltlemenl and the amount of the obligalion can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lotal of direct costs and shared costs, including support costs involved in undertaking each activity. Employees are categorised as either direclly involved in training or adminislration and related costs apportioned accordingly, sub-divided belween training activities where appropriate. Staff time spent delivering projects which are subjecl to restricted funding is recharged from unrestricted funds at agreed hourly rates. Direct costs attributable to a single aclivity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are nol altribulable lo a single activily are apportioned between those aclivities on a basis consislent with the use of resources. Support costs are apportioned according to the amount of direct cost associated with each class of activity. Governance costs reflect the stralegic and compliance costs of the charity and are appportioned in the ratio of direcl costs. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives. as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Taxatlon As the company has charitable status there is no liability to taxalion, apart from that arising through its VAT registration. 2.6 Tangible fixed assels and depreclallon Tangible fixed assets are inilially recognised al cosl. After recognilion, 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 inlended working condition should be included in the measurement of cosl. Depreciation is charged so as lo allocale the cost of tangible fixed assets less their residual value over their estimated useful lives, using the slraight-line melhod. Deprecialion is provided on the following bases.. Freehold Buildings 40/0 p.a. on cost Leasehold Property over the period of the lease Motor Vehicles 250/0 p.a. on cost Fixtures. Fittings and Equipment- 10_500/0 p.a. on cost Page 18
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limiled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounling policies (continued) 2.7 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. 2.8 Cash al bank and in hand Cash at bank and in hand includes cash and short-terrn 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. 2.9 Liabilities and provisions Liabilities are re¢ognis8d 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 al the amount that the charitable company anticipales it will pay to settle the debt or the amount it has received as advanced payments for the goods or services il must provide. Provisions are measured at the best estimate of the amounts required to settle the obligalion. Where the effect of the time value of money is material, Ihe provision is based on the present value of Ihose amounts, discounted at the pre-tax discount rate that rellecls the risks specilic to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.10 Financial instruments The association On has financial assets and financial liabilities of a kind that qualify as basic financial instrumenls. Basic linancial instruments are initially recorded at transaction value and subsequently measured at their settlemenl value. 2.11 Flnance leases and hire purchase Leasing agreenents which transfer lo the company substantially all the benefils and risks of ownership of an asset are included in fixed assets and the capital element of the leasing commitment is shown as hire purchase obligalions. The lease rentals are treated as consisting of capital and interest elements. The capital element is applied to the reducing capital element oulstanding. Costs in respect of operating leases are charged on a straight line basis over the period of the lease. 2.12 Pensions The charitable company operates a defined contribution pension scheme. Contributions are charged to Ihe income and expenditure account as they become payable in accordance with the rules of the schemes. The company provides no other post-retirement benetits to ils employees. 2.13 Fund accounting General funds are unrestricted funds which are available for use at the discretion ol the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Page19
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Llmlled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Critical accounting estimates and areas ol judgment Estimates and judgments are continually evalualed and are based on historical experience and other faclors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounling estimates and assumptions: The charilable company makes estimales and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a signilicant risk ol causing a material adjLtstment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Critical areas ol judgment.. The useful economic life of tangible fixed assets is the only key area of estimation uncertainty. Income from donations and legacies Unreslrlcted funds 2024 Total tunds 2024 Total funds 2023 Other income 20.511 20,511 15,431 Total 2023 15,431 15,431 Page 20
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable activities Unrestricted funds 2024 Total tunds 2024 Total lunds 2023 Offshore and Slandby Vessel Training {OPITO approved) STCW (Maritime) COMPEX and Electrical Emergency Response ManagementlTechnical and Specialisl First Aid & Medical Courses Other Survival and Firefighting Miscellaneous Renewables Confined Space Courses 628.190 301,910 273,871 353,126 51,571 46,321 74,207 37,222 476,308 48,225 628,190 301,910 273,871 353,126 51,571 46,321 74,207 37,222 476,308 48,225 692,517 290,820 255,963 354,470 49,887 57,905 58,503 28,072 283, 747 44,950 Total 2024 2,290,951 2,290,951 2, 110.834 Total 2023 2,110,834 2,110.834 Other Incomlng resources Unre51rlcted funds 2024 Total funds 2024 Total lunds 2023 Bank interesl receivable 2,342 2,342 2, 098 Total 2023 2.Q98 2,098 Page 21
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis ol expenditure by activities Activilles undertaken dlreclly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Offshore and Standby Vessel Training {OPITO approved) STCW (Maritime) COMPEX and Electrical Emergency Response ManagemenVTechnical and Specialist First Aid & Medical Courses Other Survival and Firefighting Miscellaneous Renewables Confined Space 556,318 267.373 242,538 312,726 45,670 41,021 65,717 32,959 421,814 42,708 74.384 35,750 32,429 41,814 6,107 5,485 8,787 4,407 56,400 5,710 630.702 303,123 274,967 354,540 51,777 46,506 74,504 37,366 478,214 48,418 747,871 374,045 276,422 382,803 53,873 56,054 63,178 30,337 306,428 48,543 Total 2024 2,028,844 271,273 2,300,117 2,279.554 Total 2023 2,002,485 277,069 2,279,554 Governance costs 2024 2023 Auditors remuneration Consultancy and professional tees Legal charges 6,500 3,349 8,173 5,600 1,708 4,599 18,022 11,907 Page 22
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 1,040,907 94,281 41.275 995, 150 89,579 40,051 1,176,463 1, 124, 780 The average number of persons employed by the charitable company during the year was as follows- 2024 2023 Survival Training Staff Olfice 34 35 42 41 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 2024 No. 2023 No. In the band £60,001 £70,000 The key management personnel of the charity are considered to be the Truslees, the Chief Executive, Company Accountant, Facilities Manager. Operations Manager and Business Operations and HR Manager, whose employee benefits totalled £238,185 {2023: £228,224). 10. Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 December 2024, no Truslee expenses have been incurred (2023- £NIL). Page 23
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limiled by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Tangible fixed assets Freehold Land and Buildings Fixtures, Motor Fittlngs and Vehicles Equipment Leasehold Property Total Cosl or valuallon At 1 January 2024 Additions 1,433,451 948,919 8,697 11,663 1,659,952 28,003 4,051,019 39,666 At 31 December 2024 1,433,451 948,919 20.360 1,687,955 4,090,685 Deprecialion At 1 January 2024 Charge lor the year 1,240,606 19,754 943,024 943 8.695 485 1,492,926 45,734 3,685,251 66,916 At 31 December 2024 1,260,360 943.967 9,180 1.538,660 3,752,167 Net book value At 31 December 2024 173,091 4,952 11.180 149,295 338.518 At 31 December 2023 192,845 5,895 167,026 365, 768 Included in the carrying value of tangible assets is an amount of £10,93412023: Nil} relating to assets held under finance leases or hire purchase agreements. 12. Debtors 2024 2023 Due within one year Trade debtors Other debtors Prepayments and accrued income 229,704 15,265 86,432 254,036 89,106 331,401 343,142 Page 24
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Creditors: Amounts falling due within one year 2024 2023 Bank loans Trade creditors Olher laxation and social security Obligalions under finance lease and hire purchase contracts Accruals and deferred income 7,395 147,313 99,816 3,887 60,814 9,178 196,298 100,278 60,309 319,225 366,063 Deferred income relates to funding received in advance of performance. Obligations under hire purGhase conlracts and finance leases are secured against the assets to which they relate. The bank loans are secured by a fixed charge over the land and buildings occupied by the company. 14. Creditors: Amounts falling due after more Ihan one year 2024 2023 Bank loans Net obligations under finance lease and hire purchase contracls 264,849 6,803 272,247 271,652 272,247 Obligations under hire purchase contracts and linance leases are secured against the assets to which they relate. The bank loans are secured by a fixed charge over the land and buildings occupied by the company. Included in creditors= amounts lalling due after more then one year is an amount of £222,455 {2023'. £235,537) in respect of liabilities payable or repayable by installments which fall due for payment after more than five years from the reporting date. Page 25
HUMBERSIDE OFFSHORE TFIAINING ASSOCIATION (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Statement of funds Statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure Unreslrlcled funds General Funds 227,628 2,313,804 (2,300,117) 241,315 Statement of funds - prlor year Balance al 37 Decembe 2023 Balance al l January 2Q23 Income Expenditure Unrestrlcted funds General Funds 378,819 2, 128,363 (2,279,554) 227.628 Page 26
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Summary of funds Summary of funds- current year Balance at 31 December 2024 Balance al 1 January 2024 Income Expendllure General funds 227,628 2,313,804 (2,300,117) 241,315 Summary of funds- prlor year Balance al 31 Decembei 2023 Balance al l January 2023 Income Expenditure General funds 378,819 2.128,363 (2,279,554) 227,628 17. Analysls ol net assels between funds Analys5s of nel assels between lunds- curreni period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assels Creditors due within one year Creditors due in more than one year 338.518 338,518 493,674 493,674 {319,2251 (319,225) {271,6521 (271,652) Total 241,315 241,315 Page 27
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Analysis of nel assets between funds {contlnued) Analysls of net assets between funds - prlor period Unrestrictea funds 2023 Total funds 2023 Tangible fixed assets Current assels Creditors due within one year Creditors due in more than one year 365, 766 365, 768 500,170 500, 170 (366,063) (366,063) (272,247) (272,247) Total 227,628 227,628 18. Reconcillation ol net movemenl in funds to net cash flow from operatlng acllvllles 2024 2023 Nel incomelexpenditure for the period (as per Statement of Financial Activities) 13,687 (151,191) Adjustmenls for: Deprecialion charges Loss on the sale of fixed assets Decrease in debtors Decrease in creditors Investment income 66,917 67,313 11,741 {49,130) {2,342) 21,353 (39,438) (2,098) Nel cash provided byl(used in) operating activities 40,873 (104,057) 19. Analysls ot cash and cash equlvalents 2024 2023 Cash in hand 162,273 157.028 Total cash and cash equivalenls 162,273 157, 028 Page 28
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Analysis ot changes in net debt At1 January 2024 Cash flows At31 December 2024 Cash at bank and in hand Debt due within 1 year Debt due after 1 year Finance leases 157,028 (9,178) (272,247) 5,245 1,783 7,398 (10,690) 162,273 (7,395) (264,849) (10,690) (124,39n 3,736 (120.661> 21. Pension contributions The company operates defined conlribution pension schemes. The assets of the schemes are held seperately from those of the charilable company in an independantly administered fund. The pension cost charge represents contributions paid by the charitable company to the funds and amounted to £41,275 12023: £40,051). 22. Operatlng lease commltments At 31 December 2024 Ihe charitable company had commitments to make future minimum lease payments under non-cancellable operating leases as lollows.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Laler Ihan 5 years 164,673 499.741 167,673 654, 708 10,306 664.414 832,087 Leases are negotialed over various terms to suit the requiremenls at that time. Break clauses are included wherever appropriale and the above liabilities have been calculated Irom the balance sheet date to either the end of the lease or Ihe next break clause. whichever is the earlier. Page 29
HUMBERSIDE OFFSHORE TRAINING ASSOCIATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23. Related party Iransactlons As detailed in the Direclor's Report, some Board Members are nominees of user companies for whom the charitable company provides training courses. Their respeclive inlerests in these organisations are not considered to be so material as to necessitate the seperate disclosure of the level of Irade with each one. Page 30