2022-03-31-accounts - Midland Group Training Services Limited

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liability ofeach inember in the event o	fwinding up is limited tof20.
Charity number	528785
Company number	984899
Principal Office	Gulson Road, Coventry,	CV1 2JG

Chief Executive Officer		David Bridgens
Director ofDelivery and Operations		Steve Palmer
Director ofFinance and	HR	Ruth Smith
Business Systems and Contracts Manager		Adrian Lawrence
Quality and Compliance	Manager	Ruth Plane
Customer Engagement	Manager	Adrian Simkiss

		Unrestricted	Restricted	Total	Total
	Note	funds	fundsf	2022	2021 g
Income:
IncomePom donations and legacies:
Coronavirus Job Retention Scheme income		8,242		8,242	138,763
Income from Charitable activtttest
Subscriptions, tmining, projects, course
fees and extra services	4	3,281,874	100,300	3,382,174	3,031,883
Income from other trading acnviti est
Commercial trading operations	9	1,120,082		1,120,082	613,095
Invesiment income	3	2,130		2,130	12,395
Totalincoming resources		4,412,328	100,300	4,512,628	3,796,136
Expenditure:
Costs ofraising funds:
Investment raanagement costs
Commercial trading operations	9	882,591		882,591	501,391
Expenditure on charitable activities	5	3,296,685	171,984	3,468,669	3,255,936
Total expenditure		4,179,276	171,984	4,351,260	3,757,327
Net 0oss)/income before other
recognised gains	6	233,052	(71,684)	161,368	38,809
Other recognised losses
Change in fair value ofpension scheme liability	12				(3,646, 183)
Net movement in funds for the year		233,052	(71,684)	161,368	(3,607,374)
Fund balance brought forward at
1April 2021		1,468,539	435,261	1,903,800	5,511,174
Fund balance carried forward at
31March 2022		1,701,591	363,577	2,065,168	1,903,800

				MIDLAND	GROUP TRAINING SERVICESLIMITED	GROUP TRAINING SERVICESLIMITED	GROUP TRAINING SERVICESLIMITED
					BALANCE SHEETS
					at31March 2022
					Com	an No 984899
						Group		Charity
						2022	2021	2022	2021
					Note				8
Fixed assets
Tangible fixed assets					8	2,981,849	2,991,551	2,981,849	2,991,551
Investment in subsidiary			undertaking		9			1,000	1,000
						2,981,849	2,991,551	2,982,849	2,992,551
Current assets
Debtors					10	587,457	548,670	381,907	382,340
Short term deposits						2,472,463	3,076,780	2,472,463	3,076,780
Bank balance and cash						107,109	115,718	59,371	51,447
						3,167,029	3,741,168	2,913,741	3,510,567
Creditors - amounts		falling		due
within one year					11	(1,318,514)	(1,940,436)	(1,303,717)	(1,822,539)
Net current assets						1,848,515	1,800,732	1,610,024	1,688,028
Creditors - amounts		falling		due
afier more than	one	year			11	(2,765,196)	(2,888,483)	(2,765,196)	(2,888,483)
Net assets						2,065,168	1,903,800	1,827,677	1,792,096
Funds:
Restricted funds					13	363,577	435,261	363,577	435,261
Unrestricted funds					13	1,464,100	1,356,835	1,464,100	1,356,835
Non-charitable	trading		funds		13	237,491	111,704
Total funds						2,065,168	1,903,800	1,827,677	1,792,096

							Group
						2022	2021
					Note
Cash flows from operating		activities:
Cash generated &om	operations					(335,603)	332,370
Net cash provided	by (used in) operating					(335,603)	332,370
activities
Cash flows from investing		activities:
Purchase oftangible Sale oftangible fixed	fixed assets assets					(334,539) 55,086	(49,523) 20,916
Interest received						2,130	12,395
Net cash provided	by (used in) investing
activities						(277,323)	(]6,212)
Change in cash and	cash equivalents			in the		(612,926)	316,158
reporting period
Cash and cash	equivalents		at	the
beginning ofthe reporting		period				3,192,498	2,876340
Cash and cash equivalents		at the	end of			2,579,572	3,192,498
the reporting period

Reconciliation ofnet income	to net cas	h flow from operating activiti	es
			2022	2021
Net income for the reporting	period (asper the statement
offinancial activities)			161,368	(3,607,374)
Adjustments for:
Depreciation charges			313,680	299,817
Profit on disposal offlxed assets			(27,544)	(6,668)
Change in fair value ofpension	scheme	liability	46,219	3,646,183
Interest received			(2,130)	(12,395)
(increase)/decrease in debtors			(38,787)	44,412
Increase/(decrease) in creditors			(788,409)	(31,605)
Net cash provided by (used in)	operating	activities	(335,603)	332,370

3	Investment income			2022	2021
	Short term deposit interest	receivable		2,130	12,395
4	Income from Charitable	Activities
	Trallllllg services provided			3,281,874	2,966,283
5	Charitable Activities Costs
	The charity undertakes direct charitable		activities and does not make grant payments
	Provision oftmining services and projects			3,387,721	3,178,770
	Support costs —salaries and office costs			80,948	77,166
				3,468,669	3,255,936
	Governance costs
	Salaries and office costs			13,533	13,375
	Interest on pension scheme	liabilities		46,219
	Auditors' remunemtion
	-Audit			9,925	8,100
	-Other services			1,500	750
				71,177	22,225

					2022	2021
Net incoming resources
Net incoming resources are stated after charging/			(crediting):
Directors' and oificers' indemnity	insurance
Depreciation oftangible fixed assets:
-owned assets					246,909	233,808
-leased assets					66,771	66,009
(Profit)/loss on disposal oftangible fixed assets					(27,544)	(6,668)
Change in fair value ofpension liability						3,646,183
Staffcosts
Wages and salaries					1,602,275	1,695,055
Social security costs					194,635	195,502
Pension costs					130,042	246,857
					1,926,952	2,137,414
Average number ofFTEemployees					40	43
Key management personnel
Emoluments					410,062	377,558
Pension contributions to defined	contribution	scheme			27,054	25,387
					437,116	402,945
The number ofemployees who received emoluments f60,000 in the year was as follows:				ofmore than
660,001 - 670,000
670,001 - f80,000
680,001 - f90,000
f,110,000 -6120,000

Summary ofprofit and	loss a	ccount
				2022	2021
Turnover				1,120,082	613,095
Costofsales and administrative		expenses		(878,491)	(497,591)
Governance costs				(4,100)	(3,800)
Net profit				237,491	111,704
Retained profit brought	forward			111,704	227,413
Amount gilled to the charity				(111,704)	(227,413)
Retained in the subsidiary				237,491	111,704
The assets and liabilities ofthe subsidiary			were:
Fixed assets
Current assets				914,648	771,724
Creditors: amounts falling due		within one year		(676,157)	(659,020)
Net assets				238,491	112,704
Aggregate share capital	and reserves			238,491	112,704

f39,426 Payable f'rom	1s April 2021 to 30w June 2021 inclusive.	Monthly
f718,274 Payable July	2021	One off
f157,680pa Payable from	1stApril 2022 to 31stMarch 2034 inclusive. This will	Annually
be increased	in line with the increase in the RPI (on apreceding
December to	December basis).
8500,000 Payable April	2026	One off
In addition, the Company has granted an uncapped charge to the Trustee ofthe Fund, over the freehold property at Gulson Road, Coventry included in the Balance Sheet at 31s March 2022 at K1.2m (see note 8 page 20). It should be
noted that the defined benefit scheme was closed to all future accruals during 2010.

Analysis ofnet assets between	funds
		Non-charitable
		trading
	Unrestricted	funds	Restricted	Total
Intangible fixed assets
Tangible fixed assets	2,625,272		356,577	2,981,849
Cunent assets	2,245,381	914,648	7,000	3,167,029
Current liabilities	(642,357)	(676,157)		(1,318,514)
Long term liabilities	(2,765,196)			(2,765,196)
	1,463,100	238,491	363,577	2,065,168