Charity Registration No. 52863S Company Registratlon No. 00926888 IEngland and Wales) NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustèes E Sims l Raeside A Sims Mr J Bailey Secretary l Raeside Charity number 528635 Company number 00926888 Registered office Hanley Technical Inslilule 151-153 Marsh Street North Hanley Sloke-on-Trent Slaffordshire ST15HR Auditor Geens Limited Graphi¢ house 124 City Road Stoke on Trent ST4 2PH Bankers National Weslminsler Bank plc 1 Upper Market Square Hanley Sloke-on-Trent ST1 1NS Solicitors Freelh Cartwright LLP Federation House Slalion Road Stoke on Trent ST4 2SA
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED CONTENTS Page Trustees. report Slalement of Iruslees. responsibilities Independent auditor's report 8-10 Statement of financial activities 11 Balance sheet Statement of Cash flows Notes to the financial slalemenls 14-25
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The trustees present their report and the financial slalemenls and business plan for the year ended 31 August 2025. The trustees, who are also dirèctors for the purposes of company law and who served during the year and up lo the dale of this report are sel out in the Reference and Administration Information. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the rinancial slalemenls and comply with the charitable company's governing document, Ihtt Companies Act 2006 and "Accounting and reporting by Charities". Statement of Recommendalion Pra¢tice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021° leffeclive 1 January 20191. Obje¢tlves and actlvities In 2024125 the group underwent senior management changes. From Seplembttr 2024, Sarah Slanway commenced a joint CEO role alongside Paul Williams, taking on sole responsibility from January 2025. Paul continued lo provide support as required until his ietirement at the end of March 2025. During 2024125, the group remained focused on sustaining steady growth and organisalional stability while upholding high standards of quality. This slralegi¢ direction ensured that. alongside expansion and sound financial management, the group continued lo deliver exllenCe in learning provision and in the services offered lo Searners and employers. The Group's Charitsble Objectives and Activltles for 202412S'. To promote, organise and arrange the provision Df training for persons employed Dr looking for employment in the engineering industry. To provide suppc)rt lo ernployers through apprenticeship programmes To offer advice and guidance lo school l young persons on engineering careers. To offer local employers a range of engineering focused based training support services. To upskill and link unemployed people with local engineering employment opportunities. Offer health and safety supptsrt advice and guidance to local engineering companies. The achlevement of these objeGtlves has been supported through th8 followlng key activltlès: The group offers Level 2 Apprenticeship piogr8mmes across a wide range of engineering discip5ines. These programmes are primarily deliVed in the workplace and are supported by structured off-the-job and practical training provided al NSEG. In addition, elements of dislan¢e learning are delivered online IhroLJgh wr bespoke virtual lttarning studi05. Both apprentices and employers benefit from secure acGess to recorded lessons via our dedicated media sile, ensuring flexibility and ongoing support throughout the programme.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 At any one lime, the group supports 40 - 50 apprentlces, with numbers inlenlionally ieduced in recent years lo priorilise quality over quantity. The group provide a free recruitment service to all companies looking to recruit an apprentice and manage the full pro¢ess frorn advertising the role, screening candidates, to shortlisting and aTranging interviews ensLJring individuals are fully prepared and job ready. The group conduct regular training needs I skills gap analysis with Companies where we offer free advice and guidance. Identified training requiiemenls are then formally agreed and delivered by NSEG or. where appropriate, in collaboration with alternative training organisalions. Training costs are agreed in advan, and wherever possible, financial support is provided, inclu¢Jing free training for upskilling employees Iwith an q)prenliceships I NVQI and discounted courses are offered lo our member companies. The group ¢ontinues lo offer programmes to unemployed adults aged 19 and over who are settking to enter or re- enter the workforce. We work closely with our four local job ¢entres, visiting on a weekly basis to engage with individuals and provide information about employment opportLJnilies within the engineering sector Owing lo the success of our programmes in Welding and General Engineerlng, Employabillty, Digital Skills, and Functional Skills. we have now expanded our reach lo Include Stafford and Crewe Jobcentres. The Group continues lo deliver impartial advice and guidance throLJgh engagement with schools and community job fairs. Ulilising the Educational Engineering Careers Van and the Virtual Welder, participants are provided with interactive taster sessions designed to introduce and demonslrale key engineering principles. These activities serve to raise awareness of engineering as a potential career path and inspire individuals lo explore oppLytunilie5 Within the sector. Health and Safety support for member companies has continued lo ensure compliance with legislative requirements, with NSEG acting as the competent person for many organisalions. The group provides advice, guidance, and general support through onsite inspection visits. as well as via telephone and email. Planned investment in this area for 2025 was not pursued due to subslanlial funding requirements exceeding £500,000 for premises and equipment, combined with limited employer commitment to support the expansion of services. Membership costs have remained static and the Health & Safely service has ¢onlinued lo be subsidized by the group's surplus. The group has invested in rebranding NSEG, refreshing ils visual idenlily, modernising eommunicalions, and strengthening ils presence across digital platforms and our new website. This initiative has enhanced the organisation's profile, reinforced Its commitment lo excellence, and ensures NSEG is recognised as a leading provider ol engineering training and support. In 2024-25, NSEG continued lo invest in its workforce, enhancing salaries and benefits lo remain competitive with local FE providers lo allracl lop lalenl. The Group has referied lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing its aims and objectives and in planning investments that influence future activities. and believes these have been achieved. Surplus funds accumulated over a nurnber of years have been reinvested lo enhan¢e opportunities for local people and lo support the needs of local engineering companies, in line with the Group's PLJblic benefit objectives.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED TRUSTEES. REPORT {INCLUDING DIRECTOR'S REPORTI (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and performance This year, the Group has continued lo make a meaningful difference in both the local community and the engineering sector, by upskilling employèes, managing apprenli¢eship programmes, and providing lar9eted programmes for unernployed individuals. A comprehensive breakdown of the group's performan can be seen below.. Adult Skills Fundin L11 L2 NVQ'S Employability Skills Functional Skills IMathslEnglishlDigilall stats Targets v Actual Stats Targèt 216 135 Actual Stats 272 161 80 70 Qualification AGhievement Rates Apprenticeshlps: 79°/o, significantly above the national average of 60.5% Adult Skills Fundlng.. 97 /0, wel5 above the national average of 84.2°/0 Progression for unemployed learners.. 70Q/o moved into employment, further education, or apprenticeships upon course completion Workplace Level 2 NVQS: 100Yo Functional Skills (Maths l Digital Sklllsl: 990 Overall End Point Assessment results for apprenli¢eships showed that 40°/o of lèarners achieved a Dislinclion. while 600A achieved a pass. The consistently high success rates dernonstrale the Group's ability lo deliver impactful programmes, enabling both learners and èmployers lo allain qualification5 and training that make a meaningful contribution lo the engineering sector. Twenty apprentices succèssfully completed their apprenticeship prograrnmes, while 175 unemployed adult5 completed their courses allained qualifications al the Ace Academy. The learner cohort was diverse, ncompassing male and female learners, individuals requiring additional support, previous offenders, and those with lower academic attainment. Progression rates for unemployed adults have shown a slight decrease compared lo the previous year, primarily due lo the impact of increased National Minimum Wage rates and higher National Insurance conlribulicns, which have constrained companies, capacity to recruit new employees. Satisfaction survey results 101 2024125 show that 1000kn of our employers would recornmend NSEG to other erllployers and 100010 Df our learners would recommend NSEG lo their friends and family. The group maintained ils Matrix accreditation followng a successful monitoring visit, continuing lo provide high- quality advice and guidance to employers and learners. The group have Continued to maintain its Ofsled "Good. rating following the full inspection that look place in December 2023. The group continues to hold accreditation from EAL, NOCN, Qualilmin, and Information Commissioner's Office IICO), the Inslilule of Mechanical Engineers, the British Safety Council, the Institute of Occupational Safety and Health, and Cyber Se¢urity, demonslraling ongoing compliance with professional and regulatory standards.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Financial review To ensure surplus funds are used lo enhance the group's nol-for-profit services, the group has designated three areas for the allocation ol surplus and current assets. £692,661 Fixed Assets £131,000 Staff Contingencies £500,000 Strategic Development Fund These areas will be shown on the balance sheet and constitute a ¢ommitment to develop ils charitable aclivilies. The Iruslees have reviewed the reserves of the charity. Cash reserves are required to fund new service opportunities for members in 2025126 and cover the cost of repairs on the group's capital investment The cash reserves of £1,180,000 (after dedLJCting certain fund designations) meet these requirements. Investment powers, policy and performance In considering the investment of funds surplus lo immediate needs, the trustees have adopted a policy designed lo achieve maximum returns while maintaining minimal risk of loss. In line with this approach, funds will be held in bank deposit and building society accounts, with higher-risk investments prohibited. Flnancial performance This year a surplus was achieved, part of which was invested in ntrrisk bonds, while the remainder was reinvested in the group's assets. The allocation of surplus has been tailored lo ensure that maximum investment is directed back into the Group, supporting the achievement of its charitable objectives and the continued improvement of ils services. The trustees have assessed the major risks facing the charitable company and are satisfied that appropriate systems are in place to rnitlgate exposure to these risks.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Plans for future periods The Group's objectives continue to fo¢LJS on sustaining slea(5y growth and organisalional stability. while upholding high standards of quality lo ensure excellence in learning provision and services for learners and member companies. In 2025126 the group remains Commilled lo fulfilling its charitable objectives, through the following.. Apprenticeships Apprenlice5hip starts are projected lo incr&ase by 500kn compared lo 2024125, supported by the introduction of new Level 3 apprenticeship programmes designed lo expand provision and respond to employer demand. A significant investment is being made in a nttw, state-of-the-art workshop tc> strengthen apprenticeship provision. This will include the introduction of Level 3 apprenticeships, ensuring lèarners have clear progression opportunities and develop thè advanced, practical ski115 demanded by the engineering se¢lor. Adult Skill Fundlng The Adult Skills Funding outturn is piojecled lo rise by 5Q/o. while qualifications delivered lo unemployed learners. encompassing NVQS, Employability, Functional Skills Imalhs and English). and Digital Functional Skills, are anlicipaled lo increase by 10°k. Significant investment is being made in the expansion of the welding workshop, creating additional ¢apacily lo support larger cohorts of unemployed adults and equip them with the pr8¢1i¢al skills needed lo enter or re-enler the workplace. From 31 July 2026, Adult Skills Funding will be devolved, requiring NSEG to engage in procurement processes lo secure future funding. This will be a critical slep in maintaining the group's presence within the lo¢al area, enabling continued support for individuals seeking ernploymenl and for employers wishing to upskill their workforce. School Careers l Job falrs The group will continue lo offer impartial advice and guidance through engagement with Schools and Community job fairs. ulilising the Educational Engineering Careers Van and Virtual Welder to raise awareness of engineering as a career path and inspire individuals lo explore opportunities within this sector. Health & Safety The group will continue lo provide Health and Safely sUPPOrt to member companies, ensuring compliance with legislative requirements, with NSEG acting as their designated compelenl person. structurei governance and management Governing doGument North Slaffordshire Engineering Group Training Association Limil&d INSEGTAI is a ¢ompany limited by guarantee, and is a registered Charity by ils memorandum and articles of association which We last amended in November 2001. The Iruslees, who ale also the directors for the purpose of company law, and who served during the year and up lo the dale of signature of th& financial statements were". E Sims l Raeside A Sims Mr J Bailey
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 A board of trustees administers the charity. It endeavours to meet bi-monthly and 81 other limes when required. It ha5 power lo appoint sutFcommillees consisting of not less than two Iruslees for the purpose of making inquiry into or supervising or performing any function or duty which In the opinion of the trustees would be more convonienlly undertaken or Carried out by a svComMittee provided that all acts and proceedings of any such sub-committees shall be fully and promptly reported to the trustees. A chief executive is appointed by the Iruslees lo manage the day lo day operations ol the charity. The pay scales of senior staff are set by the Iruslees and are benchmarked against similar sized organisalions operating in the area. Pay of individual members are reviewed nUallY and this review lakes Into a¢counl performance and any other additional responsibilities undertaken. Auditor In accordance with the company's articles, a resolution proposing that Geens Limitttd be reappointed as auditor of the company will be pul al a General Meeting. The trustees, report was approved by the Board of Trustees. l Raeside Trustee Dale..
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The trustees. who are also the directors of North Slaffordshire Engineering Group Training Association Limited foT the purpose of company law, are responsible for preparing the Trustees, Report and the accounts in &cordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢¢epted Ac¢c>unting Praclicel. Company law requires the trustees to prepare accounts for each finan¢ial year which give a true and fair view of the slate of affairs ol the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these accounts, the trustees are required lo". select suitable accounting policies and then apply them consistently., observe the methods and principles in the Gharities SORP, make judgetnenls and eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts., and prepare the accounts on the going concern basis unless il is inappropriate lo presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accura¢y at any lime the financial position of the charitable company and enable them lo ensure that the accounts comply with the Companies Act 2006. They arè also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Each of the Iruslees has confirmed that there is no inloimslion of which they are aware which is relevant lo the audit, but ol which the auditor is unaware. They have further confirmed that they have taken appropriate steps lo identify such relevant information and lo establish that the auditor is aware of such informatlDn.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED Opinion We have audited the financial statements of North Slaffordshire Engineering Group Training Association Limited Ilhe '¢haritable Company'l for the year ended 31 August 2025 which comprise the statement Df financial aclivilies, the balance sheet, the statement c>f cash flows and notes lo the financial slatemenls, including 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 Reportin9 Sfrandard applicable th8 UK and Republic of Iland (United Kingdom Generally Accepted Accounting Praclicel. In OUT opinion, the financial slalemenls.. give a true and fair view Df the slate ol the charitable company's affairs as at 31 August 2025 arKJ of ils incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies A¢t 2006. Basis for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audilols responsibilities for the audit ol the financial slalemenls section of our report. We are independent of the Gharilable ¢ompany in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slatemenls, we have concluded that the trustees. use of the going concem basis of accounting in the preparalioll of the financial slalements is appropriate. Based on the work we have performed, we have not identified any malttrial uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the ¢harilable company's ability lo continue as a going concern lor a period of al least twelve months from when the financial statements are aulhorised for issue. Our respon5ibililies and the responsibilities of the trustees with respect lo going concem are described in the relevant sections ol this report. other information The other information comprises the information included in the annual report other than the financial slalements and our audilorfs report Ihereon. The trustees are responsible for the other information ¢onlainÈd within the annual report. Our opinion on the financial statements does not ¢ovei the other informalitsn and we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially In¢onsistenl with the financial slal&ments or our knowledge obtained in the Course of the audit, or otherwise appears lo be materially misslaled. If we identify such material inctsnsislenGi&s or apparent material misstatements, we are required lo determine whether this gives rise lo a mater[ misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material mis5talement of this othèr information, we are required lo report that fact. We have nothing lo report in this regard.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED Matters on whlch we are required to report by exceptlon We have nothing to report in respect of the following mallers in relation lo which the Charities (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the information given in the financial slalemenls is inconsistent in any material Tespe¢t with the trustees, report.. or sufficient ac¢ounling records have not been kept., or the financial statements are not in agreement with the accounting records", or we have not received all the information and explanations we require for our audit. Responsibilities of trustees A5 explained more fully in the slalemenl of trustees, respDnsibililies, the Iruslees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial stalernenls and for being satisfied th81 they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo enable the preparation of financial statements that are free frorn material misstaterllenl, whether due lo fraud or error. In preparing the financial slatemenls, the Iruslees are iesponsible for assessing the charilsble company's ability ID continue as a going ¢on¢ern, diSGlosing, as applicable, matters related to going Concem and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitabl& company or lo cease operations, or have no realistic alternative but to do so. Auditor's rèsponsibÉllties for the audlt of the flnancial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effe¢l thereund6r. Our objectives are ID obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a rnalerial misslalement when il exists. Misstalemenls can arise from fraud or eiror and are considered rnalerial il, individually or in the aggregate. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial stalemenls. Irregularities. including fraud, are instances of non-¢ompli8n¢e with 18ws and regulations. We design procedures in line with our responsibilities, Dullined above, to detect mal&rial misslalements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting Irregularities, including fraud, is detailed below. As part of our planning process. we enquired of management the systems and controls the charity has in place, the areas ol the financial statements that are most susceptible to the risk of irregularities and fraud, whttlher there was any known, suspected or alleged fraud. the charity did not infom us of any known, suspected or alleged fraud. We obtained an understanding of the legal and regulatory frameworks applicable lo the charity. We determined that the following were most relevant.. the Charity SORP. FRS 102, Charities AGt 2011. Companies Act 2006. We considered the incentives and opportunities that exist in the charity, including the exlenl of management bias, which present a potential for irregularities and fraud to be perpetuated, and lailtsred our risk assessment acGording1y. Using our knowledge of the charity, together with the discussions held with the charity at the planning stage, we formed a Conclusion the risk of misslalement due lo irregularities including fraud and tailored our procedures according lo this risk assessment.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED The key procedures we undertook lo delect iiregularities including fraud during the course of the audit included.. Identifying and testing journal entries and the overall accoLJnting records. in particular those that were significant and unusual. Reviewing the financial slalemenl disclosure5 and determining whether accounting policies have be appropriately 8pplied. Reviewing and challenging the assumptions and judgements used by management in their significant a¢¢ounting estimates. Assessing the extent of compliance, or lack of, with relevant laws and regulations. Assessing the validity of the classification of income, expenditure. assets and liabilities between unrestricted and restricted fLJnds. Obtaining third party confirmation of material bank balances. Documenting and verifying all significant related party balances and transactions. Reviewing documentation such as charity board minutes for discussions of irregularities including fraud. Because of the inherenl1imilalions of an audit, there is a risk that we will not delecl all irregularfcies, including those leading lo a material misstalemenl in the Iinan¢ial statements or non-compliance with reguSalion. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slalemenls, as we will be less likely to become aware of inslan¢es of noTrcomplian¢e. The risk is also greater regarding irregLJlarilies o¢¢urring due lo fraud rather than error, as fraud involves intentional concealment. forgery, collusic>n, omission or misrepresenlalion. A further description Df our responsibilities is available on the Financial Reporting Council's website at.. htlps'.11 wNw.fr¢.org.uklaudilorsresponsibilits"es. This description forms part of our auditor's report. This report is made solely lo the charity's trustees, as a body, in accordance with Part 4 of the Charities {AOuntS and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the ¢harity's trustees those matlers we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent permilled by law, we do not accept or assuTlle responsibility to anyone other than the charity and the charity's Iruslees as a body, for our audit work. for this report, or for the opinions we have formed. Geens Llmited Statutory Audltor Chartered Accountants Graphic House 124 City Road Stoke on Trent ST4 2PH Dale.. Geens Limited is eligible for appointment as auditor of the Charitable company by virtue of its eligibility for appDintmenl as auditor of a company under secliDn 1212 of the Companies Act 2006. 10-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted Unrestricted funds funds general designated 2025 2025 Total Unrestricted Unrestricted fvnds funds general deslgnated 2024 2024 Total 2025 2024 Notes Income and endowinents from: Charitable activities Investments Other income 1,044,111 55,663 1,044,111 55,663 1,167.973 50,439 2,945 1,187,973 50,439 2,945 Total In¢ome 1,099.774 1.099,774 1,221,357 1,221,357 Expenditure on- CharilabSe activities Other expenditure 833,038 57,068 19,694 890,104 19,694 778,291 52,710 831,001 11 Total expenditure 833,036 76,762 909,798 778,291 52,710 831,001 Net incomèllexpenditurel 266.738 176,7621 189,976 443,066 152,7101 39Q,356 Transfers between funds 1156,5771 156.577 113,6301 13,630 Net movement In funds 110,161 79,815 189,976 429,438 139,0801 390,356 Recon¢lliation of funds.. Fund balances al 1 September 2024 1,062,715 1,243,846 2,306,561 633,279 1,282,926 1,916,205 Fund balan¢es at 31 August 2025 1,172,876 1,323,661 2,496,537 1,062,715 1,243,846 2,306,561 The slalemenl of financial activities in¢ludes all gains and losses re¢ognised iri the year. All income and expenditure derive from continuing aclivilies. The slalemenl of financial activities also Complies with the requirements for an income and expenditure account under the Companies Act 2006.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED BALANCE SHEET ASAT31AUGUST2025 2025 2024 Notes Flxed assets Tangible asset5 13 692,661 612,846 Current assets Debtors Cash al bank and in hand 14 112,472 1,810,591 84,376 1.650,396 1,923,063 1,734.772 Credltors: amounts falllng due within one year 186,2721 124,0811 Net current assets 1,836,791 1,710,691 Total assets less current Ilabllities 2,529,452 2,323.537 Creditors.. amounts falling due after more than one year 16 132,9151 116,9761 Net assets 2.496,537 2,306,581 The funds of the charitable company Unrestricted funds- general Unreslricled funds - designated 1,172,876 1,323,661 1,062,715 1,243,848 19 2,496,537 2,306.561 The company is enlilled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial slalements. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies regime. The financial slalemenls were approved by the trustees on l Raeside Trustee Company registration number 00926888 IEngl8nd and Wales) 12-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST2025 2025 2024 Notes Cash flows from operating activltlès Cash generated from operations 24 242,196 418,745 Investing a¢tivitie5 Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received 1158,5771 117,4271 2,000 55,663 6,744 50,439 Net cash (used inllgènerated from Investing activities {100,9141 39,756 Financing actlvltles Payment of finance leases obligations 18.913 11,4121 Net cash generated fromllused Inl financing activities 18,913 {1,412) Net Increase In cash and cash equivalènts 160,195 457,089 Cash and cash equivalents al beginning of year 1,850,396 1,193,307 cash and cash equivalents at end of year 1,810,591 1,850,396 13
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies Charity information North Staffordshire Engineering Group Training Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered oftice Is H8nley Technical Instilute, 151-153 Marsh Street North, Hanley, Sloke-on-Trent, Staffordshire, ST1 SHR. 1.1 Accounting ¢onvention The financial statement5 have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities." Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢live 1 January 20191" The charitable company is a Public Benefit Enlily as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial slalements are rounded to the nearest £. The accounts have been prepared on the historical cost convention. The principal accounting poli¢ies adopted are sel out below. 1.2 Golng concern The financial statements have been prepared on a going concern basis as the Iruslees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 mtsnlhs from aulhorising these financial statements. The budgeted Income and expenditure is sufficient with the level of reserves for the charity lo b& able to continue as a going concern. 1.3 Charltable funds 1.4 Income All incoming resources are included in the slalemenl of financial activities when the charity is entitled lo the income and the amount can be quanlilied with reasonable accuracy. l.S Expenditure Expenditure is recognised on an accruals basis as a Siabilily is incurred. 1.6 Tangible flxed assets Tangible fixed assets are initially measured al cost and subsequently measured 81 cost or valuation, nel of depreciation and any impairmenl10sses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual valuès over their useful lives on the following bases.. Land and buildings Fixtures, fillings & equipment Motor vehicles 20A p.a. 1 Ooh p.a. lo 250/0 p.a. slraighl line 25 /0 reduGing balance 1.7 Impalrment of fixed assets Al each reporting end dale, the charitable company reviews the carrying arnounls of its tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the re¢overable arnounl of the asset is eslimaled in order to determine the extent of the impairment loss lil any). 14-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies (Continuedl 1.8 Cash and cash equivalents Cash and cash equivalents include ¢ash in hand, deposits held al call with banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank ovèrdrafts are shown within borrowings in current Iiabililies. 1.9 Financial instruments The charitsble company has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 '01her Financial Inslrumenls15sues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitsble company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an inlention lo sellle on a net basis 01 lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constilules a financing Iransaclion, where the transaction is measured at the present value Df the future reoÈipls discounted at a market rale of interest. Financial assets classified as Teceivable within one year are not amortised. Baslc finoncial liabilities Basi¢ financial liabilities, Including creditors and bank loans are initially recognised al transaction price unless the arrangement conslitules a financing Iransaclion, wher& the debt instrument is measured al the present value of the future payments discounted al a market rale of interest. Financial Iiabililies classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amount5 payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financlal liabilities Financial liabilities are derecognised when the Charitable Company's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits Termination benefits are recognised immediately as an Èxpense when the charitable company is demonstrably committed to temiinate the employment of an employee or to provide lerminalion benefits. 1.11 R&tlrement benefits Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. 15-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies Icontlnuedl 1.12 Leases Leases are classified as finance leases whenever the terms ol the lease transfer substantially all the risks and rewards ol ownership lo the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets al the lower of the assets fair value al the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest Is ch8rged to net incomellexpendilurel for the year so as lo produce a constant periodic rale ol interest on th& rèmaining balance of the liability. 1.13 Fund accounting Unresliicled funds are available for use al the discretion of the Iruslees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unreslri¢led funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is sel out in the notes lo the financial slatemenls. Restricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the reslricled ftjnds are sel out in the notes lo the accounts. Crltlcal accounting estimates and judgements In the application of the charitsble company's accounting policies, the trustees are required lo make judgernenls, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The eslimales and underfying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estimation uncertainty UsefLFI economlc lives of tanglblè assets The annual depreciation charge for tangible assets is sensitive lo changes in the eslirnaled useful economic lives and residual values ol the assets. The usefLJI econornic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement. future investments, economic ulilisation and the physical condition of the assets, See note 13 for the carrying amount of fixed assets, and note 1.6 for the useful economic lives for each class of assets. 16-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Income from charitablè actlvlties Trainlng andTraining and educatlon education 2025 2024 Membership fees Services to managing agents Courses Safety services ESFA Funding Enhanced apprenticeships 35,796 28,598 55.914 13,926 898,110 11,767 35,751 31,203 89,209 14.493 973,611 23,706 1,044.111 1,167,973 Analysls by fund Unrestricted funds- gener81 1,044,111 1,167,973 Income from investments Unrestricted Unrestricted funds funds 2025 2024 Interest receivable 55,663 50,439 Other Income Unrestricted Unrestricted funds funds 202S 2024 Nel gain on disposal of tangible fixed assets 2,945 17-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Expenditure on charitable activities Training and Tralning and education education 2025 2024 Direct Costs Staff costs Depreciation and impairment Course expenses linG NSEG costs) Rent, rates and insurance Heal, light and water Minor equipment, maintenance and premises expenses Printing. stationery and telephone Publicity (including website) Motor and Iiavelling expenses Auditors, remuneralionl Independent examiner's fees Sundry expenses EAL charges Subscriptions and donations Irrecoverable VAT Other charitable expenditure 576,216 57,068 45.840 14,891 5,461 30,876 12,389 11,863 12,621 5,000 22,898 34,271 5,141 22,621 33.148 534,970 52,710 59,781 16,085 12,903 25,617 11,956 11.525 13,356 4,500 11,968 25,367 5,344 13,236 31,683 890,104 831,001 Analysls by fund Unreslricled funds- gèneral Unrestricted funds- designated 833,036 57,068 778,291 52,710 890,104 831.001 Net movement In funds 202S 2024 The nel movement in funds is slated after Ghargingllcredilingl.. Fees payable for the audit of the charity's financial slalemenls Depr&¢ialion of owned tangible fixed assets Lossllprolitl on disposal of tangible fixed assets 5,000 57,068 19,694 4,500 52,710 12,9451 Audltor's remuneration Fees payable to the charity's auditor and associates.. 2025 2024 For audit services Audit of the financial slalements of the charity 5,000 4,500 16-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2025 Trustees None ol the Iruslees lor any persons connected with them) reiVed any remuneration during the year, and none of them were reimbursed any expenses12024- none). 10 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number 17 17 Employment cost5 2025 2024 Wages and salaries Social security costs Other pension costs 483,393 41,712 51,111 465.351 39,073 30,546 576,216 534,970 The lolal amount of employee benefits paid to ils key management personnel, including the trustees, amounted lo £159,05412024.. £78,276) The number of employees whose annual remuneration was more than £60,000 is as follows.. 202S Number 2024 Number £60,00110 £70,000 £70.00110 £80,000 £90,001 to £100,000 11 Othèr expenditure Unrestricted Unrestricted funds funds deslgnated deslgnated 2025 2024 Net loss on disposal of tangible fixed assets 19.694 12 Taxation The charity Is exernpl from laxalion on ils activities because all ils income is applied foi charitable purposes. 19-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 13 Tangible fixed assets Land and k)uildings Fixtures, fittings & equlpment Motor v8hlcl8S Totsl Cost At 1 September 2024 Additions Disposals 523,394 45,489 220,570 60,613 75,114 52,495 137,2141 819,078 158,577 137,2141 Al 31 August 2025 568,863 281,183 90,395 940,441 Depre¢lation and Impalrment At 1 September 2024 Depreciation charged in the year Elirninaled in respect of disposals 62,156 7,924 118,963 29,559 25,113 19,585 115,5201 206,232 57,068 115,5201 Al 31 August 2025 70,080 148,522 29,178 247,780 Carrying amount AI 31 ALJgusl 2025 498,783 132,661 61,217 692,661 Al 31 August 2024 461,238 101,607 50,001 612,846 14 Debtors 2025 2024 Amounts falling due wlthln one year: Trade debtors other debtors Prepayments and accrued income 9,016 8,686 518 75,172 103,456 112,472 84,376 15 Credltors- arnounts falllny due within one year 2025 2024 Notes Obligations under finance leases Other taxation and social Security Trade creditors Ac¢ruals and deferred income 17 4,548 12,316 62,726 6,682 1,574 9,534 8.473 4,500 86,272 24,081 Details of the obligation under finance lease are provided in note 16. -20-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 16 Creditors.. amounts falllng due after more than one year 2025 2024 Notes Obligations under finance leases 17 32,915 16,976 17 Flnance lease obligations Future minimum lease payments due under finance leases.. 2025 2024 Within one yeaT Within two and five years 4,548 32,915 1,574 16,976 37,463 18,550 The obligation under finance lease is secured over the relevant asset included within motor vehicles. 18 Retirement beneflt schemes 2025 2024 Defined contribution schemes Charge lo profit or loss in respect Df defined conlributiDll schemes 51,111 30,546 The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. 21
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 19 Unrestricted fund5 - deslgnated The income fLJnds of the charity include the following designated funds which have been sel aside out ol unreslricled funds by the Iruslees for spe¢ific purposes.. At1 September 2024 Resources expended Transfers At 31 August 2025 Fixed Assets Staff Contingencies Slralegi¢ Development Fund 612,846 131,000 500,000 178,7621 156,577 692,661 131,000 500,000 1,243,846 176,7621 156,577 1,323,661 Prevlous year.. At1 September 2023 Resources expended Transfers At 31 August 2024 Fixed Assets Staff Contingencies Strategic Development Fund 51,926 131,000 500,000 152,7101 13,630 812,846 131.000 500,000 1,282,926 152,7101 13,630 1,243,846 Flxed Assets. This fund represents the net book value of the fixed assets hèld by the charity. Staff Contingencie5. This fund is to provide resources should the setvices of the charity be affecleLI by si¢kness or other absence of staff or should the charity have lo make staff redundant Strateglc Development Fund This is a fund sel aside lo ensure the charities sustainability giving it the ability lo implement any possible rapid ¢apiial investment due lo any proposed changes in delivery or apprenticeship developments I requirements, or loss of ESFA short term ¢onlracl. This would have signili¢ant impact on the charity. The charity will rely on ils ability lo react quickly lo those change5 required lo deliver training, fund new equipment and any other resources required. This will be a significant cost lo the Charity and must be accounted fDr and designated as r¢quired and reviewed yearly.
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 22 Capital commitments 2025 2024 Amounts contracted for bul not provided in the financial slalemenls". 2025 2024 Acquisition of property, plant and equipment 251,182 This the estimated cost for the setup of the Machining Workshop, including necessary machinery, equipment, and infrastructure adjuslmenls, lo deliver advanced m8¢hining as part of the Level 3 Machining TechrMGian apprenticeship standard. All costs include installation, staff training, and the installation of additional structural girders in the cellai lo comply with Health & Safety regulations. 23 Related party transactions There were no disclosable related party Iransa¢tions during tho year12024- none). 24 Cash generated from operatlons 2025 2024 Surplus for the year 189,976 390,356 Adjustments for.. Investment income re¢ognised in slalemenl of financial activities Lossllgainl on disposal of tangible fixed assets Depreciation and impairment of18ngible fixed assets 155,6631 19,894 57.068 150,4391 12,9451 52,710 Movements in working ¢apltal'. Ilncreaselldecrease in debtors Increase in creditors 128,0961 59,217 15,417 13,648 Cash generated from operations 242,196 418,745 -24-
NORTH STAFFORDSHIRE ENGINEERING GROUP TRAINING ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 25 Analysis of ¢hanges In net funds At 1 Septetnbpr 2024 Cash flows At 31 August 2025 Cash at bank and in hand 1,650,396 180,195 1,810.591 Obligations under finance leases 118,5501 118,9131 137,4631 1,631,846 141,282 1,773,128 25-