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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|
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|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|
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|||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||||||||
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|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|
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|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|
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||||||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|||||||
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|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|
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|||||||Group||Charity|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
|10|Debtors||||||||
||Amounts|fidling due within||one year|||||
||Trade debtors||||471,919|392,835|271,269|273,530|
||Prepaym|ants|||115,239|153,723|110,339|106,698|
||Accrued|income|||299|2,112|299|2,112|
||Amount|due Rom subsidiary||undertaking|||||
||||||587,457|548,670|381,907|382,340|
|11|Creditors||||||||
||Amounts|falling due within||one year:|||||
||Trade creditors||||861,184|901,467|209,222|261,476|
||Taxation|snd social security||payable|117,329|98,005|100,907|85,815|
||Accruals||||170,495|183,264|162,722|176,424|
||Pension|deficit liability|||169,506|757,700|169,506|757,700|
||Amount|due to subsidiary|undertaking||||661,360|541,124|
||||||1,318,514|1,940,436|1,303,717|1,822,539|
||Amounts|falling due afier|one year:||||||
||Pension|deficit liability|||2,765,196|2,888,483|2,765,196|2,888,483|
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|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.||||
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|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|
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||2022|2021|
|---|---|---|
|Within one year|95,615|98,965|
|Between two and five years|364,905|365,626|
|In inore than five years|619,917|706,417|
||1,080,437|1,171,008|
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