Charlty R•glstratlon No. 526144 Company R•gi$tratlon No. 00897078 (England and Wales) Chartered Accountants EGlabllshed Ninglgen Twonty SIX ROCHDALE TRAINING ASSOCIATION LIMITED (COMPANY LIMITED BY GUARANTEE) COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trustees R Beelham M McGralh A Wlding L Natal6 H Ellison J Haworth-Kin9 IAppointe(110 September 2025} Sqcretary JANagy Charbty numb•r 526144 Company number 00897078 (England and Wal•¥l PAnclpal addro¥¥ Fi3hwl¢k Street Rochd8le Lancashire OL16 SNA Regl8t•red offlce F18hwlck Street Rochdale Lancashire OL18 SNA Audltor Ashworth Mould8 11 Nicholas Street Burnley Lancashlre 88112AL Bank•r4 Tho c0-0￿ratIve Bank plc 110 Yorkshire Street Rochdale Lancashir• OL16 IJY Sollcltor• Molegworth8 Bright Clegg Octagon Hou58 25127 Yorkshire Street Rochdale Lancashir• OL16 1RH ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE CONTENTS Pag• Tru81ees' report statement of trustees, responslbllS1ie8 Independent auditor's report 8-11 Statement of flnanclal actlvi118s 12 Balance sheet 13 Statement of ca8h flow8 14 Note¥ lo the financial statements 15-33 Thg following p8ges do not form part of the StattrtoryAccounts'.- Oglailed income and expendlture account Appendix ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY2025 The tru8tee8 present their annual rep￿ and financial statements for the year ended 31 July 2025. Th8 financial statements have been prepared In 8ecord8nce wilh the a¢e4unling policle8 sel out in note I lo the financial ststements and comply with the charitable company's Memorandum and ArUcles of Association. Ihg Companies Act 2006 and 'Accounling and Reporting by Charities.. Statement of Recommended Practs'ce applicable to charities preparing their accounts in accordance with the Financial Rep¢yh'ng Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 {effeclive 1 January 20191" Oblectlvgs and actlvltles The company is 8 charity and exi8t8 to malnlain a training centre and lo PrO￿de and support course8 of study and training lor students, with 8 vlew to gecuring 8ppoinlmenls or promotion and obt81ning other professional qualification8. To achieve thi8, the charita￿8 company operate¥ a varbty of training project5. Our misslon is.. To beneflt thè publlc by Ma￿ntaIni￿a a training centre 8nd to provlde and 8UPPOrt courses and Iraiiing for le8mer$, wth a vkw lo them securfng appolnlments or promotion and obtaining vocational qualificalicns. 11 is also to deliver a high-quality curnculum lo all our leamers by offering them learning that Is inclusive, Innovallve and inspirlng, which allows them to develop their skills and confidence now and for their future. We work with our employers and communllies lo ensure our offer brings economic and soclal value lo Rochdale and boyond. Fcr the period of the plan, whlch covers the period lo 31st July, 2025, our strategic objectives were.. To Increase apprenlic&$hip$ from 252 10 300. To source other funding streams e.g. GMCA- Skills Bootcamp. Acorn. To maintain commeraal training and income directly from employers by offering a more hgllslic servlce. in order lo reduce dependency on government funding. To maximise partlclpallon, relenlion. succe8s and Ilmellnes8 and progreS￿On rates and Increase the number of distinctions. To rais8 the standards of the key18arner experi8nce5 and ffiJrther improve teaching and learning l.e. 96% of staff observations meeting the required standard. To achi8ve Oulslandlng Ofsl&d inspection grade5. To improve our service and reputsUon wilhln industry. To broaden our market base. To continue lo build on the publlc servlces markèt and our relationship with the Local Authority. To mainlaln long temi financial viabillty and aim for an Incomg 01 £3.27m and a £112k surplus. To raise the slandlng of Teehnieal Education and Skills. To grow Study Programmes and wo-employed le5pecially Engllsh and math81. To continua to promote apprenticgships and other learning opportunities lo under-represented groups. To improve our building and resources for leamers and staff, including classroom and office space, ILT and web- based learning resources. To deliver more Apprenllceships Standard sublects. ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT IINCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 Our apprenticeship starts are 301 lor 2024125, +1 on lar9el and we will wort to achieve 360 in 2025126. In 2024125 we contsnued lo dellver study progr8mmes for NEET young people achieving £101k, +£19k on last year. We would like lo grow this cohort of leamers and develop our Alemative Piovision foi those who mainstream school is not appropriate. Our lendets to source other funding streams have gone well l.e. Acorn achieved £92k, Ski118 Bootcamp £312k. The commercial courses have increased this year lo £384k +£79k on budget and +£122k on last year. This was helped by delivering the Level 3 Residential Childcare Diploma on a comm8r¢ial ba815. In addition, we plan lo bulld on our actlve Involvement In partner8hlp8 e.g. The Rochdale Work and Skllls Group, GMLPN and our strong Ilnks wllh the local authodly. We w511 also Strive lo incrgasg pgrticipation, succe5s11imelings$ rate$, progr¢ssions and the numter of distbnctions. We s￿1[ continue lo gndeavour lo further increase the qualtty of our provision, in order to achieve Strong OFSTED grades. The beneficial grga of charilablo expgnditurg Is the United Kingdom, with profgr9n¢¢ tor the Rochdalè aroa. The Iru5tees have revieTJved thé oul¢omg8 and 8chievemenl$ of Ihg activities for the year lo ensure that they remaln focused on th6 ¢harilable oim$ and continue lo deliver benefits tg the public. We have complled wllh the duty under the Charltle8 Act lo have due regard lo the public b8nefil guldance publlshed by the commisslon. The Irusl888 have paid due regard lo guidance issued by the CharSty Commission in decidlng what actlvilles thé harity should undertake. AGhl•v•m•nts and perfomanco This has been a good year for Rochdale Training A8$oclation financially a$ the Adult Sk1118 Budget and Apprenliceshbp programmes dld well, achieving grO%￿h on 1881 year. Adult Sk1118 were +£66k up on last year and Apprentices. £220k up on last year. Our succes8 rate on 8ppr6nti¢e$hip$ wa$ 72% 1 % up on lo$1 year and 12% up on the national average of 60% and on the adult education skllls programmes It was 80%. Thls needs to improve this year. The Apprenticeship Standards are going w811, wth a 99% EPA pas8 rale in 2024125 and 47% of Apprentlces achlevlng a dlslnction1+14% on last year). We wlll ¢ontinue to endeavour to grow the range of commerclal ¥ervlce¥ offere¢J to companles and increase our memberships, with our r•vigw•d membership package. There are many changes al¢)ot regarding Ofsled. The new Educats'on Inspeclion Toolkit way published in September 2025 and we are working towards achieving a strong standard al our next inspection. The Snveslments have performed according to our expeclatlons. The investment policy and objective is to minimise the risk of holding all monies in one financial institution and they are reviewed annually. We ensure lo the best of our knowledge that investments are placed in elhKal organSs8llons e.g. the Co.Operative Bank. Flnanclal rgvlgw The net incoming resources for the year amounted lo £143,55012024 £174,465) and details are smown in the slalemenl of financial activibes on page 12. Direct charitable expendiluTe ac¢ountsd for 62% {2024 63%) of lotsl expenditure. ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Reserves pollcy The Council of Management has estsblished a policy whereby thg unrestricted fund$ not commltted or Inveslod in tsngible fixed assets I'the free reserves'l held by the charity should bp approximately 3-6 month5 of the resources expended, which equates to £863,703 £1.727,406 in general fijnds. At present the free reserves, which net of de51gnaled and restricted funds amount to £2,086.290, can continue to support this policy for the Immediate future. Some of the 'free reserves, wll be used lo improve the piemises and equipment. Also rislng energy costs and other economic pressures mean il is important that we continue lo hold the 'free reserves, lo mlligate against the risk of thls uncertain landscape. Prlnclple fundlng •ouKe• Th8 prfnciple funding source5 for Ihg charitablfr company 8r•', Levy-paylng employor$ Non-levy paying employers via AS system Adult Skill$ Fund - Skn'116 BOOt￿mP Other sundry Source8 of income indude.. - Study Programmes - Acom Tralning Prlncas Tru81 Rentsl income for room hire Corpora18 Ir8Snlng 8888lon8 Investment income. Prlnclple rlsk and uncertalntl•• The Councll of Management has conducted ils own revlew of the major risks lo which the charity is exposed and are attempting to develop systems lo mttigate those risks. Th8y are aware that significant external risks lo fjJnding requiro • $lrategi¢ plan which wll allow for the diversification of funding and aclivitses. The mgin rlsk In 2025126 is not maklng up the shortfall of £404k Income due lo end of the S￿'11s Bool Camp and Acorn contracts. However, we saw gro¥th In apprenllces In 2024125, whlch gave us good carry in lund8 lor the year. enabling us lo offset this. This growth of apprenliL*ship8 ha¥ ¢onlinued during the first quartor of Ihis ygar. ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2025 Another risk is not achleving the requI￿d $landards sel by Ofsled. The Education Inspedion T¢)olkil Changed In September 2025 and is very new to us. We are working on the new loolkil and a Qualtty Improvement P￿n i¥ in p18ce to ensure we Continuously improve our provision in line with Ofsted's requiremgnl. Another risk is having fvnds clawed back due lo an unsuccessful Audit. Funds ar8 dawed back if the error rate is Over 5%. We had a very small audit in July 2021 of Traineeships & AEB programmes and were deemed 5ati$faclory with no dawback. There is a Quality Compliance Manager, an inlemal auditor and an Aullil Schedule in place lo malnlain these standards and mltlgale agalnst any rlsk. As we have won new conlraels e.g. the ASF Level 2, another risk is not having a suceessful GIACA audit, as wè have not experienced a GMCA audit before. However, the contract manager and compliance manager. and newly appointed auditor are well versed in the ASF funding rules and Ihls has been added to our audit s¢hedule to lessen the r68k. Intomal ri$ks are minimised by th8 implementation of procedures for authorlsalion of all transacts'ons and projects and to ensure conwslenl quality of delivery for all operational aspectg of the charitable u)mpany. These pr¢¢edure5 are periodically reviewed lo ensure that they still meet the needs of the charfty. Flnanclal rlsk management obJectlveB and pollcl88 The charitable company finances ils operations through retained fund$. Tho man8géménl'$ objectivès are lo relain sufficlenl Ilquid fvnd8 to ènable the company lo meet Its day lo day obllgallons aj they fall due. The charitable company makes Ilttl& use of financlal Instruments other than an opèrational slerliro bank account ond longer term sterling deposits and bonds, so Its exposure to price risk. credit risk. Ilquidlty risk and cash flow risk is not material for the asse85menl of the 8588ls, liabilities, financial position and nel incomingloutgoing Plan8 for future perlods The charitable company plans to conllnue 118 Irainlng 8etlvlll8s for th8 foreseeable luluro. subject ta sausfactory funding arrangements. The plans described in Objecllve8 and Acllvllle8 above, contlnue lo apply for the foll¢)wlng 3 year8. We shall continue lo develop our one-stop shop. approach and conllnue broadening our market base. We are now seeing apprenllceships growing and thig IS still 8 clear long term 8im and to that end we shall maintsin focus on both company needs and local and nallonal govemmenl priorities. Stmcturn. governanco and managornent Th8 charftable company was incorporated on 31st January, 1967 and 15 govem$d by its Momorandum arKI Artlcles ofA5sociation. whlch established ils objects and powors. Trustees The directors of the charitable company are Its tru8le88 lor the purpose of charity Law and throughout the report are colleciively refeffed to as the Iruslees. The trustees of the ch8ritsble company who served during thg year and up lo the dale of Signatu￿ of the nanc¢al statements were.. N A Bradley R Beetham M McGrath A Wlding L Natale H Ellison J Haworth-King (Resigned 13 December 20241 (Appointed 10 September 20251 ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Appolntment of Trustses Truslees, drawn from member comp8nl$$ of our wider ne￿OrkS (see below), are elected gt the Annu81 General Meeting IAGMI lo fom a management committee of be￿￿en 5 and 11. A third of the truslg9$ retire each year and are eligible for re-election. All members are circulated with invitation$ to nominate twslees prior lo the AGM, advising them of the retiring trustees and requesting nominations for the AGhrt. The trustees have the power lo Co-opt members to the committee when appropriate particularty wlh regard to the need for any speciaist skills. The managemant committee elects the Chairman. None of the trustees has any ben8ficial intere81 in the charitable company. All of the Iruslees are members of the charrtable company and guarantee to contribute £1 In the event of a winding up. Tru81ees m8eling$ and ¥laff meetings (both formal and informall provide a satisfactory forum to ensure that all trustees are familiar with the charitable company's policie8 and pfocedure8. All Iru8lees are provided wrth the Charity Commis$ion's"Responwkn'lity of Trusl8e8" Market value of land and bulldlngB The Iruslees consider that the market value of 18nd and buildlngs 1$ In excess of Ihelr book volue. bLrt no professSonal valuation has been undertaken lo qulnllfy Ihl$. Organl•8tlon The Council of Management, the trusl8e8 detailed above, meet quarterfy 8nd 01 ony other limes to con8id&r Special i88ue8 or lo en8blè futur& planning lo be satisfactorily carried out. The Chlef Executive. Jill Nagy, is appointed by the trustees lo manage the day to d8y operallons of the chadty. To facilitate èffecllve operations, the Chief Executiv8 has delegated aulhorily. within terms of delegation approved by the trustees, for operotional matters induding finance. employment and perfomianco related activity. Pay Poll¢y for Senlor Stsff Thi5 is reviewed annually in November, after accounts are ffnall8ed and be paid from November. There are four elem•nt¥ lo the process. 1. Cost of Llvlng Increases in line with cost of living will be discussed and reviewed al the Board meeting In September 8nd wlll be nfirmgd in November, following the accounts being finallsed. They will be granted ￿theY are sustainable for the busin888 1.8. if the financial performance of the Association durlng the Immediately preceding 24 month peri¢xI luslffios the increase. 2, Merft Payment based on Performanc• This will be assessed on performance against obj¢ctiVg$ agreed al appraisal at th¢ start of th¢ ￿ar. Judgement against each oblecllve will be based on the descriptors of.. Unsatisfactory- not achi8ved, no progr8S8 Satisfactory met targets Good ex￿eded largels by 10% Outstanding exceeded largels by 20% There is 8 fifth judgement of changed clrcum81anees ￿lch would make the objective in£pproprfale. Senior staff will carry out a self-assessmenl and the Chief Executive shall also assess their performance. This wll create the basis for discussion. The appraisal shall look at the balance of perfomiance against the individual objgclives, weighted in favour of the key objective, to arrive al an initial overall judg8rnent. This should be balanced against inilialive, team conlribulon, commitment, profrssiono1i$m. developing Rochdgle Training in order to arrive at final gradlng. Unsatisfactory or satisfactory perfomiance- no incr8as8 Good perforniance up lo 3% increase OLrtstandiThJ performance - up lo 6% increase ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT> (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 3. Bonu8 Payment One-off bonus payments lor one-off specffic successes In moving RTA forward. This 18 payable al Chiaf Execjjlive's dlscmb'on up to £1.000. 4. Mld-year Adjustm8nts Structural lob ¢hange8 or increases based on defensive commercial decision shall b8 at the discretion of tho Chief Executive. 5. Company Wldo Bonus Following an exlrem8ly successful yoar th8 Board may decide lo award an across th& board team l)onus. This 18 al their dI￿retIon. If a member of staff is under the Disciplinary or Performance Management proceduTO, or have live wrrtten warnings on their file, they are not enlilled to any Comp8ny wide bonus that may be awarded. Wldèr Nètworks Rochdale Training Assoclatlon Llmll8d IRTAI 8r• mgmber8 of Greater M8nch88ter Chamber ol Commerce, The As$o¢ialion of Learning Provlder$ and Grealor Manthesler Learnlng Provider Netsvork. Audltor In accordance wlh the charilablg companys artides, a re801ulion proposing that ABhworth Moulds be reappoinl8d as 8udilor of the charitable company will be put al a General M¢èting. Small company provlslons This report was been prepared In gccordance with the special provlsions for small companiè$ undèr Part 15 01 th6 Companies Act 2006, Dl8clo8ur• of Informatlon to audltor Each of the trustees has confimed that thèro 1$ no information of which they are aware thich Is relevant lo the audit, bLrt of which the audllor Is un8W8re. They have further confirmed that they have taken appropriate 8tep810 Identify such relevant information and to est8bli$h that the audrtor Is aware of such Information. The Irustè8s' report was approved by the 8oard of Tru$leoS. M McGrath Trustee Dated.. 8 December 2025 ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY2025 The trustee8, who are also the dlrectors of Rochdale Tfalning Association Limited for the purpose of company law. are responsible for preparing the Truglees, Report and the financial slalements in accordance with applicable law and Unrted Kingdom Aceounling Standard$ Iunilgd Kingdom Generally Accepted Acttjunling Pracli¢o1. Company Law requires the trustees lo prepare financial statements for each ffinancial year which give a true and fair view of the slate of affalrs of the charity and of the incoming resoufC8S and application of resoufces, including the In¢om8 and expenditure, of the charitable company for that year. In preparing Ihesg financial slal8m8n18, the trustee8 are required to.. select suitable accounting pollcies and then apply them conslslently.. obseNe the methods and prlnclplès In tho Chariti•s SORP.. makè judgemènts and 0stimates that are reasonable and prudent., slate whet￿r 8ppliGable VK Accounting Stsndards have been fdlowed, subject to any malerlal departur88 di$d08ed and explalned In the financlol slalemenls., and piepar8 the financial slal•m8nl8 on the going concem basis unless it 18 inappropriate to presume that the charity wlll continue In operation. The trustees 8r8 respon$iblg for kgeping adequate accountin9 records that disclo¥e w+lh reasonable o¢curacy at any lime the financial positson ol the charilablg company and enable them to ensuro that the financial statements comply wlh the Companles Aet 2006. They are also responsible for safeguarding the asset$ of the eharitable company and hence for takin9 leasona￿e steps lor the prevention and detection of fraud and olh8f Srregularilies. Company law require5 the Iru$le8s lo prepare flnanclal slal8ments for each financial year whiGh givg a true and falr view of the slate of affairs of the charity and of th8 incoming resourcos and application of resources, including the Income and expendllure, of the charrtablè company for that year. In preparing Ih¢s• finonclal slalemenl8, the Iruslees are required lo.. gèlecl suitable accounting policies and then apply them consSslenlly', obseNa thè methods and principles in the Charits'es SORP., make judgements and estimates th81 ar8 reasonable and prudent., slal¢ wh$lher applicable UK Accounting Standards have been followed, subject to any malerlal departure8 disdosed and explained in the financial slalemenls.. and prepare the financial stslemenls on the going concern basis unless It 18 Inappropriate lo presurr* that the charity will continuo in operolion, The trustees are responsible for keeping adequate accounting records that disclose with reasonable 8ccuracy at any time the financial position of the charity and enable them lo ensure that the financlal slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable slep5 for the prevention and detection of fraud and other irregularities. ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROCHDALE TRAINING ASSOCIATION LIMITED Opinion We have audited tho financial sL*&ments of Rochdale Tiaining Assoaation Limited Ilhe "ch8rriable company") for the year ended 31 July 2025 which C¢Jmprise the ststement of financial activities including income and expenditure account, the balance sheet. the statement of cash flows and the notes lo the financial slalemenls, including a summary of significant accounb'ng Policies. The financial reporting framework that h35 been applied in their preparatson is applicable law and United Kingdom Accounting Standards. including Finan(ial Reporting Standard 102 The Financial Reporting Standard applicable in th8 UK 8nd Republic of Irgland Iuniled Kingdom Generally Accepted Accounting Practice). In our opinion, the financlal 8talemenls'. glve a true and fair view of the slate of the charitable company's affairs as at 31 July 2025 and of Ils incoming resources and appllcallon of resources. for the year then ended,, have been properly prepared In accordancg with United Kingdom Generally Accepted Accounting PractSce', and have been Pfepared In accordance wllh thè r•qulremenls of the Companies Act 2006. Basls for oplnlon Wè ¢onducled our audlt In accordance wllh Inlem8llonal Standards on ALtdiling IUKI IISAS IUKII and appltable law. Our responsibilities under those slandord5 are further described In the Audltofs r8sponsibilil￿s for th8 audit ol the fin8nci81 stalemgnts section of our report. We aro independent of the charitsble company In accordance with the ethical requlrem8nl8 that are reL•v8nl lo our audit of the financial 8talemenls in the UK, including the FRC'S Ethical Standard, and the provisions available for small enlilies, 8nd we have fulfilled our other elhic81 responslbililies in accordance with these requirements. We beli¢ve that Ihg audit evidonce we have obtained Is 8ufficiert and appropriate lo provlde a basis for our oplnion. Con¢luslono r•latlng to golng conc•rn In auditing the financiol slalemenls, we have concluded that the Iru$lees' use of the going concem ba818 of accoUn￿ng in the preparation of the ftnancial slalements 1$ approwiote. Based on the work we have performed, we have not Identifièd any material uncertalnlles relating lo even18 or conditlons that, Individually or collectively, may cast significant doubl on the charily's ability lo continue as a golng concern for 8 perlod of at least Nvelve months Irom when th¢ financial statements are aulhorised for issue. Our re8ponsibililies and the respon8lblllli88 of tru$l¢e¥ with rgsped lo going concern are described in the relevant sectlon$ of this report. Oth•r Inlorm•tlon The other information comprisès the information included in the annual report olhar than the fiNa￿la1 statements and our auditor's report Ihereon. Thg Iru$lg9$ are responsible for the other infomalion eonlained wlhin the annual Teport. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicitly stsled in oui report. we do not express any form of assurance conclusion Ihgreon. Our responsibility is lo read the other information and, In dolng so. ¢onsid¢r wholher the other information is malerl8lly inconsistent ywith the financial slalemenls or our knowledge obtained in the course of the audrt. or othe￿iSe appears to be m8lef1811y misslaled. If we identify such material inconsistencies or apparent material misslalemenls. we ar6 required lo delemiine whether this giveg rise lo a material misslalemenl in the financial statements themselves. If, based on the work we have performed, we Gondude that there 18 a matertal mi88lalement of this other information, we are required to report that fact. Vve have nothing lo report in this rggard. ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ROCHDALE TRAINING ASSOCIATION LIMITED Oplnk)n8 on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the infornialion given in the Iruslees, report, th)ich Sncludes the directors, report prepared for the purpose$ of company law, for the finanaal year for whlch the financial slalemenls are prepared Is consistent wlth tho financial stslemenls., and the directors, report, Included wlthin the tru$l¢es' report. hos been prepare¢J in a¢¢ordan¢o wlth applicable legal requir8menl8. Matters on whlch we are requlred to rèport by exceptlon In the light of the knowledge and understanding ol the charitsble company and ils envlronment obtsSned In the course of the audrt. we have not identified material misslalements in the directors, report included within the truslg05' report. We have nolhlng lo report in respect of the followlng matters in relation to which the Compani88 Act 2006 requires U8 to report to you If. In our opinion.. adequate accountlng racord5 have not been kept. or returns adequate for OUT audll have not been received from branches not vlslled by us.. or the flnancial 51alemenls are not in agreement wllh the accountsng records and relum8'. or certain disdosures of trustees. remunerats'on specified by law ale not made,. or we have not received all the information and explanatlons we requlre for our audll,. or the Iruslees were not entitled to prepare the financial slaternenls in accordance with the small companies regime 8né tske advantsge of the 8m811 companles, èxempli¢)ns In p￿p8rtng the Iru8tees' report and from the requirgmenl lo prepare a straleglc rèport. Re•pon•lbllltl•s of truJtè•• As explained more fully in the statement of Iruslees, respensibilitles. the trustees, who are also the directors of the charitable company for the purpose ol comp8ny law. are responsible for the preparation ol the financial 81alemenls and for being sab'$fied that they give a true and fair view, and for such internal control 85 the trustees determine18 necesS8ry to enable tho preparallon ol flnancl818lalemenls that are free from malerlal m188lalemenl, whether due lo fraud or error. In preparlng the financial slalemenls, the trustees are responsible for 888e88ing the charitable company's ability lo continue as a golng concem, disclosing, as applicable, matters related to going concern and using the going Concern basi$ of a¢counling unles8 the trustee3 erther intend to Ilquldale the charitable company OT lo cease operations, or have no realistic allernalive bul lo do so. Audltorf8 responslbllltles for thè audit of thè flnanclal st•tèmonts Our objectives are lo obtain reasonable assurance about whether the finanaal statements a8 8 Who￿ are free from material misslatemenl, whether due to fraud or error, and to Issue an auditor's report that includes our opinion. Reasonable assur8nce is a high 18vel of assurancg but is not a guarantee that on audit conducted in accordan¢o wrth ISA8 IUKI wll a￿ayS detect a material misslalemenl when il exists. Misslaternents can arise from fraud or error ond are ¢onsidered material if, individually or in the 8ggregale, they could reasonably be expected lo influence the economic decisions of users taken on the basls of these finanaal stslements. The extent lo which our procedur95 ar6 capab19 of detecting irregulariligs. including fraud. is delailgd below. ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF ROCHDALE TRAINING ASSOCIATION LIMITED Extent to whlch the audit was eonsid•r•d capable of detectrng Irregularitios, includlng Ouf approach to identifying ané assessing the risks ol material misslalemenl in respect of irregularities including fraLKI and norpcompliance wlth law5 and regUlat￿n$, w8s as follows.. • we idents'fied the laws and regulations applicable lo the charitsble company through discussions with trustees and other management, and from our commercial knowtedge and experience of the charlty sector", we focused on specific laws and régulations which we considered may have è dSrecl materlal affect on the financial slalemenls or the operations of the charrtable Company. including the Financial Reporting Standard IFRS 1021, the Slalemenl ol Reeommended Pracllce for ¢haritie$ applying FRS 102, the Companies A¢t 2006. the Charities Act 2011, lax81ion legislation, health and safety legislation, immigr8bon and employment legidallon and all logi￿all¢D related to education81 establishmènts and apprentsceship providèrs., we assessed th8 extent of compllance wlth the law$ and regulations identified above through maklng enquiries of management., and the engagement p*rtn•r ensured that the ang89omonl team collectively had the apwoprlate competence. capabillties and skills lo idenllfy or recognise non-compliance with applicable laws and regulalion8', We asses88d the suscèplibilily of tho charitable company's financial $lalemgnls to material misslalemenl, Including oblainlng an understanding of how fraud might occur, by.. maklng enqulries of the Iruslee8 and man8g8menl a8 lo where they considered there wa8 susc8pllbilty lo fraud. Ihelr kncwledge of 8CtU81, su8p8cled and alleged fraud., and con8iderSng the internal controls in place lo miligale risks of fraud and r￿n-cOmplIanc8 laws and regul8llong Audlt r•spon$e to rl8k8 Identlfl•d We addrossed detecting malerlal mi$$latemenl in respect of irregularities, induding fraud and norFGomplianc& Mth laws and regulations, as follows.. R18k8 Identlfl•d Audlt re8pon$& Risk of fraud through management bias and override of control$ perfomied analytical procedures lo identify any unusual Of unexpected relalionship$'. tested journal enlrie81o identify unusual transactlons., assessed whether judgements and assumptions madé in determining the accounting estimates were Indicative of potentsal bias., assessed whether judgements and assumptions made in detemining the allocatlon ol funds lo the appropriate categories of Unrestricted. Designated and Restricted ￿ndS were indicative of potential bia8. reviewed the controls relating lo ¢ompletenes$ of income induding sample testing of Income transactions to detemiine appropriate allocth.on lo the corfect accounting period, entitlement ond categorisation,. and investigated the rationale behind significant or unusual transactions. 10- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ROCHDALE TRAINING ASSOCIATION LIMITED Rlsks Identlfled Aud5t rgsponse Risk of irregul8rilles and non-compliance with laws 8nd regulab.ons agreeing financial statement disclosures to undedying supportlng documentation rnaking enquifies of management whether there have been any incidents or identified non compliance wth heatth and Safely, educational and apprentlce$hlp legi$lakn"on. There a￿ Inherent limilalion5 in our audll procedures described above, The more removed that laws and regulations are from finanaal Iransaclions, the less likely 11 Is that w8 would become aware of non-compliance. Audlling standards also limit the audrt procedures required lo idenllfy non-compliance wllh laws and regulations lo enquiry of the dlrectors and other management and the inspecu'on of regulatory and legal Cofrespondence, rf any. Materlal mlsslalemonls that arfse due lo fraud c8n be harder lo detect than those that arlse from error 88 they may involvo deliberalo concealment or colluslon. A further description of our responsibilitie8 for the audrt ol the financial stslemenls is located on the Financlal Reportln9 Council's webslle at http8'.IlvMw.frc.or9.ukl8udiloTsrespon8ibililie8. Thi8 description fomis part of our auditQf'S réport. Ule olour r•port This report is made 801ely lo the chsrrtable company's members, as a b¢xly, In accordance wllh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has bèèn undertakèn $0 that we might slaté lo thé ehArilatle company, members those m8tter8 we are required lo slate lo them in an auditor's report and for no other purpose. To the fullest exlenl permhted by law, we do not accept or assume responslbi1Sty lo anyone other than the charilablo company and the charitable company's memkr8 as a body. for our audit work, for thi$ report, or for the opinion5 we have fornied. ¥vOr Mark Holmes 8AIHon81 FCA IS•nlor Statutory Atsdltor) for and on bghalf ofA•hworth Mould8 8 Decamber 2025 Chartered Accountsnts Statutory Audltor 11 Nichola5 Street Burnley Lancashire 88112AL ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2025 Unrn$trkted Restrl¢t•d funds funds 2025 2025 Total Unrostrl¢t•d R&strlct•d lund8 fund8 2024 2024 Totsl 2025 2024 Notes Income from. Donations and legacies Charita￿e aGtivitio5 Investment income 2,252 3,470,186 36,103 88,250 90,502 3.665 3,470,186 3,038.356 36,103 33,371 30,163 33,828 3,038.356 33.371 Totsl Income 3.508.541 88.250 3.596,791 3.075,392 30.163 3,105.555 Charitable activib'08 3,422,713 32,100 3,454,813 2,891.395 40.602 2,931.997 Nel galnslllos8esl on Investments 10 1,572 1,572 907 907 Net Incomel{expendlturo} for the year 87,400 58,150 143.550 184,904 110.4391 174,465 Not Ineomlng rmourc baloro trangfèrg 87,400 56,150 143.550 184,904 110.4391 174,465 Gro55 tr8n$f&rs befv￿n fund# 62,590 182,5901 Not movem•nt In fundg 149,990 16,4401 143.550 184.904 110.4391 174,465 Ro¢onclllatlon of funds.. Fund ba18nces al 1 August 2024 3.162.578 169.683 3,332.281 2,977,874 180.122 3.157,796 Fund balances at 31 July 2026 3.312.588 163,243 3.475,811 3,182.578 169,683 3,332,261 The notes on pagos 15 - 33 foryn an integral part of th88e financial statements. The statement of flnanclal 8¢tiviti¢s In¢lude$ all gains and b$se$ re¢ognised in Ihe year. The statement of financial actlvltles Includes all gains and losses recognised In the year. Al income and expenditure derive from continuing aclivilies. The statement of financial aclivitses also complies w￿h the requirements for an income and expenditure account undeT the Companies Act 2006. 12- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE BALANCE SHEET ASAT31 JULY2025 2025 2024 Notes Flxgd assets G00th￿ill Other intangible assols 12 12 12,000 12,000 Total intangible assets Tangible assèts Inveslmenl8 24,000 1.351.857 4.259 13 14 1,418,789 2,687 1.380,116 1,421,456 Currènt as•ets Stocks Debtors Investrnenls Cash al bank and in hand 16 17 3.500 548,834 042,446 1,280,068 3.500 545,130 619.483 1.129,019 2,474,848 2,297,132 Crndbtor¥: •mount8 falllng du• wlthln on• y•ar 19 1379,1531 1386,327) Nel current a88ets 2,095,695 1.910,805 Total a•80t81•88 currnnt IlabllStl•• 3,475.811 3.332,261 Ineome funds Reslricled fund8 22 163,243 189,683 Designated funds Gener81 unr¢$tricted funds 4,259 3.308.309 2,687 3,159.891 23 3,312,568 3,162.578 3.475.811 3,332.261 These flnandal $ts1omenl8 hav8 been prepared In a¢¢ordan¢e with the provisions applicable to companie¥ subject to the small companies regime. The notes on pages 15- 33 form an integral part of these financial ststements. The financial slalemen18 were approved by thg Truste88 on 8 December 2025 M McGralh Trustee Trusts• Company Regl$tratlon No. 00897078 13- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025 2026 2024 Notss Cash flows from operoting actFvltles Cash generated from operations 31 244,772 395,177 Investlng actlvltl88 Purchasa of intangible assets Pur¢ha$o of tangible fixed assets Pro￿¢d3 on disposal of tangible fixed assets Pur¢has& on disposal of investments Inv8slmenl income received 130,0001 176,8831 1495,279} 58 116,4471 33.371 122,9831 36,103 Ngt cash used In Inv•¥tlng actlvltl•s 193,7231 1478,2971 Net Increa•elldKreas•1 In cash and cash equlvalents 151,049 183.1201 Cash ond cash equivalents al beginnin9 of year 1,129,019 1,212,139 Cash and ¢Mh equlvalents at •nd ofy•ar 1.280,068 1.129,019 14- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Accountlng pollc108 Charlty Informatlon Rochdale Training Association Limited is a prlvale company limited by guarantee in¢orporaled In England and Wales. Tha regislereil Offi￿ 1$ Fi$hwi¢k Street, Rochdale, Lancashire, OL16 SNA. 1.1 Accountlng conv8ntion The financial statements have been prepared in acoydance with the ch8rltablè company's Memorandum and Articles of Associatson, the Companies Act 2006 and 'Accounting and Reporting by Charities, Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financi91 Reporting Standard appllcable in the UK and Republic of Ireland IFRS 102} (effective 1 January 20191" The ¢harlty 1$ a Publi¢ Benefit Entity as deffin¢d by FRS 102. The financlal slalements are prepared In sterfing, which is the fundonal ¢urrency of th8 charitable company. Monetary amounts in the88 financial slalements are rounded to the ngare$l £. The ffinan¢ial $lalemenl¥ have been prepar¢d under the hlstoric81 co81 ccnvenllon. The prlneipal accountlng polldes adopted arè $81 out below. 1.2 Golng concern Al tho lime of approvlng the flnancial $talem8nls, tha Iruslèos have a reasonable expedation that the charity has adequate resources lo continue in operational existence for the fores8eable ILrture. Thè charity ha8 adequate cash r8serves and available unreslncled fund8. Thus the trustees ¢onlinue lo adopt the golng concern b8sls of accounting In Pfepartng the financial stalemenl8. 1.3 Charltablè fund* Unreslrlcled funds are avallable for use at the dlscrètlon of the trustees in furtherance of IhelT charflable objoclives. Unreslricled funds includo designated funds whore the Iruslees, al their dlscrelion, have Grealed fund for a specific purpose. Reglricled funds are subject to specific conditlons by donors or grantor8 88 lo how they may be used. The purpose8 and u886 of the restricted funds are sel out In the notes lo the financlal 8lalemenl8. 1.4 Incomlng resourc Income Is recognised when the charitable company is legally enlltled to it after any performance conditions have been met, the amounts can bo measured reliably. and il Is probable that income will be reG¢ivgd. Donations and legacies Income includes membership legs and l¢vie$ for Iralnln9 liom member companies for the year. Cash donatbons are recognised on receipt. Other donallons are recognised on¢e the chartly ha8 been notlfled of the donation, unle55 performance conditions require deferral of the amount. Income lax recoverable In relation to donations received undèr Gift Aid or d¢ed$ of covenant is recognised at the b'me of the donation. Incomo from ¢haritabl8 aclivib'8s, which indudg$ income received under contract where entillemenl lo grant funding is subject lo specific perfOrnian￿ conditions. is recognised as earned as the related Support services are provided. Grant income included in this category provides funding lo educational activities and is recognised where there is enlillement, probability of receipt and amoun15 can be measured with sufficient reliability. Income is deferred when perfoimance ielated grants arg received in advance of the education programme to bvhich they relate. Inve81menl income 18 recognised on a receivaNe basis. 15- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Accountlng pollcles (Continued) 1.5 Resources expended Expenditure is recognised on an accruals basis when a liability is incurred. Conlraclu?l arrangements and perf0mian￿ related grants are ￿cogniSed as g¢)trds or services are supplied. Other grant payments are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligats'on arises that results in the payment beirlg unavoidoble. costs of raising funds are those costs inoJrred in attracting voluntary Income, and those incurred In trading aciivilies that raise funds. charllable aCtI￿lieS i￿lude expenditure Incurred when undertaklng educational programmes and include both the dirèct costs and support costs relating to these acdvllles. support ¢o$ts include central lunctlons and hav8 b¢en allocalad to activity wst Gategories on a basis consi8tent with the use of resources. e.g. staff costs by the tlmè spent and oth•r Go$l$ by Ihgir u$age. 1.8 IntangIb￿ flxfrd - goodwlll Goodwill represents thè ex¢g$s of the cost of acquisition of unincorporated busSnesses over the falr value of net assets 8cqulred. 11 is initially recognised 8$ an asset al cost and is sub88quenlly measured al coyt less accumulated amortlsallon and o¢cumulaletJ impairment losses. Goodwill shall be con8idereil to havè a finite useful life, and shall be amortl$ed on a 8y5temalic b8818 over Its Ilfe. 1.7 Intanglbl• flxgd as••t• other th#n goodwlll Intsnglble 88sels acquired separately from a busSne88 are recogni8&d at CO81 and ale subsequently mèasur al cosl1868 8ccumulal8d arnortisalion and accumulated impairment losses. Intanglble assets acquired on business combinallons are recognised separately from goodwlll at the acquisition dale where il Is probable that the expgcled future economic benefits that are attributable lo the asset will fiow lo the anlity and the falr value of the asset can be measured rellably., the Intanglble 888818riSe$ from contractual or other legal rights., and th? intangible asset Is separable from the 8nlily. Amortisa1Son Is reeognised so as lo write off the cost or valuation of assets le58 their residual values over thelr use￿1 live8 on the following bases.. Oth•r 20% stralghl Ilne 16- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Accountlng pollcleg (Contlnued) 1.8 T•nglblè flxèd assets Tangible fixed assets are initially mea$urod al cost and $ubsequently measured al c05t or valuation. net of depreciation and any impairm¢nl10s58s. Oepieciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Plumbing Centre 4% 8traighl line basis 16 213% slraighl line basi$ Plant and machinery Flxlur88 and flttings Computers Motor vehicles Offlce equipm¢nl 15% reducing balance b88lS 7 112% reducing balance basis 33 113% 5traighl lina basls 25% reducing balance b8513 25% reduclng balance basis The galn or 1088 arlslng on the dlsp09al of an as8et 15 delemiined as the difference be￿en the sale pr￿eedS and the carrying value of the a88et, and is recognised in the statement of financlal activities. All fixed 8sset additions are capllalised al cost. 1.9 Flxad a$s•t Inve8tment• Invèstments held as fixed assets are revalu8d al mld-markel value al the value al the balane• sheèt dale and the gain or Ioss tsken lo the slalemenl of financial activities. The net cumu181ive gain or loss is reflected in the dèslgn81ed frjnd. 1.10 Impalm)ènt of fixed a88et8 Al each reporting end dale, the charitable company reviews the carrying amounts of ils tangible and Inlanglble 888els to delermlne whether there Is any indication that those assets havè suffered an impairment loss. If any such indication exists, the fecovefable amount of the asset is ests'mated in order lo determine the extent of the impalrment1088 Ilf any). 1.11 stock# Stock8 are valued at the lower of cost and net realigable value after making due allowance for ab8Jlele and slow moving ilerns. Nel reallsable value Is the esllmaled selllng prlce less all e81imalgd costs of completion and costs to be Incurred In marketlng, selllng and dlslrlbulion. 1.12 Cash and cash equlvalents Cash at bank and cash in hand includes cash and short term highly liquid Inve81menls with a short maturity of three months or185s from the date of acquisition of opgning of the deposit or slmilar account. 17- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 A￿oUntIng pollcleg Icontlnuedl 1.13 Flnanclal Instruments The charitable company has electod lo apply the provisions of Section 11 'Basic Financial In8trumenls' and Section 12 '0ther Financial InstrLJmenls Issues, of FRS 102 to all of ils finaneial instruments. A fln8n¢i81 instrument is a contract givlng rl8e to 8 fin8ne18185sel (such as trade and other deL*ors, ca3h and bank balanc8s} or a financial li8bilrty18uch as trade and olh¢r ¢r¢¢Jilors, bank and ¢lher loans, hire purchase arKI lease cr8ditorsl. Financial instruments are recognised in the charitable Company's balance she81 when the charitable company b8come8 party to the conlra¢tual provision5 01 the instrument. l the charitable company financial instruments are baslc flnanclal Inslrum8nls and are recogn58ed 8t amotts'$8d cost using the offeclive Inte￿$1 method. Amortlsed co8t'. the original Iran8aclion value, le88 amoun18 settled. les8 any adluslmenl for Impairment. Effectlve Intsrojt mtthod". where a finanryal instrument falls due more than 12 months after the balance sheet dale and is subject lo a Tatg of interest which is below a market rate, the original transaction value 18 dlBcounled u81ng a mart(8t r819 of Interest to give the net present value ol future cash flows. Dèrncognttlon of financlal In•trumont8 Financi81 assets cease lo be recognised only vthen the conlmctural rlghls to the cash flows expire. or when 8ubslanlially all the risks and rewards of ownership are transferred lo anolhef entity. Financlal Ilabililies are derecognised when the charftable company'g conlraclual obligation8 expire or are dlscharggd or cancelled. 1.14 Taxatlon The company18 a registered charity and 1$ gnlilled lo exemption ftom tsx lo the exlenl that income rec6lved falls within Part 11 of the Corporation Tax68 Act 2010 and is opplied to charflable purpos85 only. 1.16 Employee ben•flts The cost of any unu8ad holiday enlillemenl is recognised in the perlod In which the employee's servlces are received. The costs o18hort-lerm employee benefits are recognised as a li8bllty and an exp8n8e, unless those costs are requlred lo be reGogni58d as part of the c081 of stock or fixed a888ts. 1,16 Rgtlrgment beneflts Payments lo defined contribution rets'remenl benefft $¢heme$ arg ¢harg¢d as an expense as they fall due. 1.17 Penslons Contributions In re$pe¢t of Ihe charitable company's personal penslon scheme a￿ charged to the Income and expenditure account for th8 year in which they are payable lo the scheme. 18- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Crltlcal accountlng estlmates and judgements In Iha application of the charftsble company's accounling policies, the trustees are required lo make judgernonls, estimates and assumptlons about thè earrylng amount of assets and Ilabili11os that are rK•t readlly apparent from other sources. The eslimales and associated assumptions are based on historical experignce and olher factors that are consldered to bè relèvant. Actual results may differ from these eslimales. The eslimales and underfying a8sumptSons are rewewed on an ongoing basis. Revislons lo accounllng eslimales are recognised in the period In which the estimate is revised where tha revision affects (￿lY that period, or in thé period of the revision and fulufe periods where the revision affects both current and future periods. Income from donatlons ¥nd legacles Unre•trlcted R68trSctèd funds fund• 2025 2026 Totsl Unrestrlct•d R•strlct•d funds fund8 2024 2024 Total 2025 2024 Apprenliceshlp Gr￿h Pllot grant GMCA Muttsply Scheme grgnl Membership Irainlng fee8 80.000 80,IJOO 28.250 28,250 2,252 30,183 30,163 3.885 2,252 3,885 2,252 88,250 90,502 3.685 30,163 33,828 Incom• from charltablo actlvltle• Unr•strl¢t•d Unr•strl¢tsd funds funds 2025 2024 Training course fee5 and consultancy Ski118 Funding Agency and similar funding Rental Income and hlre of assets Other 363,786 3,086.101 8,470 11.829 241,909 2,780,490 2,301 13,856 3.470,186 3,038,356 All of these were unreslrlcled Mon￿$. 19- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Income from Investments Unr8strictod Unrestrlctod fund8 funds 2025 2024 Divltjends receivable Inter8sI receivable 92 33,279 36.007 38,103 33,371 All of these were unrestricted M(￿188. -20- lONrt7)￿r i * Q) o ir> in O * IN a) k) CT5 f¥ c c c 0 0 elerred Income 2026 2024 Olhor deferred income 12,682 7,698 Deferred income18 Included In the fln8nclal slalemenls a8 follows.. 2025 2024 Deferred income 18 included within.. Current liabilits'es 12,682 7,898 Movernents in the year. Deferred income al 1 Augus12024 Released from prevlous periods Resouices deferred in the year 7,696 17.6961 12.682 13,819 113,8191 7,698 Deferred Income at 31 July 202S 12,682 7,696 21 Retlrement ￿nerrt schemes 2026 2024 D¢flned contrfbutlon 8chwno8 Charge to profit or loss In respecL of deflned contribution schemes 89,921 73,641 -27- ROCHDALE TRAINING ASSOCIATION LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 21 R•tlroment bonefft sch•mes (Continuod) The charbty operate$ a defined contribution pension scheme foT all qualifying employees. The assets of the schemè are held separately from those of the charity in an independently administered fund. There were outstanding contribuuons of £12,2C6 payable to the scheme at 31 st July, 202512024., £20,381). -28- J m o in debtors IDecre8$¢llincrea8e In creditor8 Incre88elldecreasel in deforrod incone 13,7041 112,1801 4,988 {94,066} 241.410 16,123) Cash g•nerat•d from operotlons 244,772 395,177 33-