MIDLAND GROUP TRAINING
SERVICES LIMITED
IiEPORT AND FINANCIAL STATEMENTS
31 Mareh 2025
Company ND 984899
Registered Charity No 528785

MIDLAND GROUP TRAINING SERVICF.S LIMITED
TRUSTEES, REPORT
31 March 2025
OBJECTIVLS AND ACTIVITIES
MGTS an Educatlonal Charlty- Employer Leil 8nd Membership Based
Our Alm
To be a national centre of excellence for education, trditting and development ond a55essment sw)porting both young
people and adults in the development of engineering oompetenc¢s associated with engineering.
To achieve improved customer business perforniance by d¢livering cost elTe¢tive employee technical and people
development solutions to machinery reliant industries.
Ch4rity Airns
To support young people wishing to access the engineering industry
To support adult employees and learners t(Trd¢v¢lop themselves, engineering fimctions and sy￿ems to improve
business perfOrnIa￿Ce
To contnliuie io the developmeni of specialist engineering competen¢e$ wilhin the National workforce to
en¢ourage development
The main activities of the Charity have continued io be ihe provision of Apprenticeships, Training Needs
Analysis and Administration. Training l￿d Development CQUTSes and events
To achieve this, the Charity..
Consults with members and employers to athieve a clear understanding of indu5ty needs and provide
effecrive solutions
Consuhs with Governme￿1 and Agencies to ensure that MGTS strategy supports indu5ty related people
developmeni policies
Consults with [￿al Enierprise Partnerships ILEPSI, Local Authority and Schools to develop collalxirntive
solutions to supportyoung people's developmenl understanding and enty into industry
Our Values
I. MGTS aims to provide our customer$ with training and a&sessmeni activiti¢s ihat are relevant to the individual,
their Organisatio￿ and its industy sector.
2. We b¢li¢ve that training and assessment activtty undenaken should be clear and concise in 11$ design and deltvery.
3. That the delivery of any traintng and assessment activities are undertakcn in a way and at a time which ￿llY meets
and 5UPPOrts the requirements of our customers, whatever those requiremcnts may be.
4. MGTS will endeavour to take the lead in a professional manner, 4pplying wisdom and knowledge whilst being
supponing and encourdging.
Our Commltment
MGTS commit to provide our customers with access to compeieni Staff. learning oppornjnities, comprehetjsive
equiprnent and technology and rapid response to meet their training and assesstn¢nt requirements.
We will whieve this through the application in all instances ot our core values by consis¢eTttly maintaining a high level
of knowl¢d8c and understanding of the markeLs and environments within which our customers operate.

MIDLAND GROUP TRAININC SERVICES LIMITED
TRUSTEES, REPORT
31 March 2025
Public Benefit
We have refe￿ed to the guidan¢e contained in the Charity Commission's general guidan¢¢ on public benefit when
reviewing our airns and obj¢aiv¢s and in planning our future activili¢s. tn particularthe trustees consider how planned
adiviti¢s will ¢OT)tribute to the aims and objectiveg they have set.
Our Strntegic Objectives
. mgts
MCTS 5s a re9Sstered charitydedicated to supportlTh9 bothyoun9 people ènd adults
lft the development of competences associated wlth engineerlng. We aim to be a
N•tlon•l Centre of Excellence for educatio￿ iraihing. developm¢nt and assessmert.
Our Strategic objectives are:
EOPLE
GROWTH
PRODucr
COMWTTO
EXCELLENCE
STAKEHQLDE
ENGAGEMENr
GOVERNANCE
v**•¥Fqkn
In
UNLOCKING POTENTIAL. DELIVERING PERFORMANCE
CHALLENGES, ACHIEVEMENTS AND PERFORMANCE
The full year results for f15cal year 24ll5 have returned a surplus, although1¢55 than the previous year and slightty below
the planned budgetary f￿￿¢. With in¢ome overall at slighily below budge4 the surplus was generated due to expendit
being well beltswbudgetfor the Same peri￿1. Apprentice income hasèeen negatively impacted by highcrthan usual lev¢ls
of early leavers and completion fullding has a150 slowed with fewer students compl¢ting EPA in the year than had been
budgeted for. The businesg will undetoke a deep dive on the issue of early le8ver51non-achievers and WO￿ ha5 alrtady
begun to rnap thehist0ricalnumbe￿ for compariM ofboth the ab501ute numtrtrand more importantly th¢ reasons behind
the number&.
Commercial course activity remain5 strong, and the results reflect this, re￿ISIng 2A above budget and prtor year
perfomiancc. The commercial course Calendar continu¢s to b¢ well populated and is fi]rther ￿OIstered by the completion
in late August 2024 of the new commercial suitc of cla&8roorns and practi¢al training areL This has Ik¢n very well
recetved by customers, in turn allowing for additional changes in thc practical and ¢la5sroom environment for
apprentic¢ships to fiffther In￿ease our capaciry and user experien¢e.

MIDLAND GROUP TRAINING SERVICTS LIMITID
TRUSTEES, REPORT
31 M#rch 2025
KPI Perform8iice
PRIMARY '.
KPIS
Sr
Many of the Key Perforniance Indicators (KPI"'s) by which w¢ rneasure the business remain strong or very strong &s per
the image aEx)ve. As noted previously> wehave experienced ahigher-than-nornJa] level ofeorly l¢aYers and nort-achieYer4
those who decide nol io participate in the f]nal, End Point Assessment (EPA} phase of the apprenticeship. This irnpacts
directly on our RetentioD and Achievement KPI metric and is reflected in the amber colour in the image.
The Customer Satisfaction 8nd Impact KPJ is also shown in amber. The amber rating that we have awarded the busill￿,
signifies the desire and necessary focus within the business, to solicit a greater breadth and depth of feedback from our
¢wtomer bas¢ lo ¢ontinue the dTive of contiiJu4)Us improvemenl and in doing so, deliver on the Strategic objective of
commitnhent to excellence and in no way refle¢ts on any deterioralloll ID Customer satisfadion or deliveTwble impact.
Capital Projects
Forsome time now there hasi%en arealisation thatthe current ITsetupwithin Mtifs is outdatedandh&8 inhetrntfragility
particularly around physical equipmenl. TnLSttts. the MGTS SLT and the MGTS IT p￿tter have agreed to definc a
proj¢ct will addr¢ss these concerns forthe business. The project will commence during fiscal year 25126.
The following objectives have been identified and will be factored into the roadm4).
l. Ageing Physical Infrnstructure
2. Improve securily W>￿￿re
3. Minimise h￿dware replacement nttdq
4. Take advantsge of cloud services
5. Improve user experienc¢
6. Review Disaster Rewv¢rylBusiness Coniinuity plans
7. Erjsure dats-int¢grity and relevatt¢e

MIDLAND GROUP TRAINING SER￿￿CEs LIMITED
TRUSTEES, REPORT
31 Mareh 2025
A foTrnal risk and issues log will be creatr4 however in summary, key risks are.
l. Ageing iDfrastNc
2. Sthrage Capacity Issues
3. Change in CapEx io OpEx models
4. Budgetary expectations for transforniation
5. Dath-retention & 'iidy-up' activiti¢s
6. BAU workloa(ts (obility to focus on ¢hange)
7. Ability to schedule downtime for key migrations
8. Network Infrastructure refresh if applicable
9. Improvcment towards removing any perceived single wjints-of-failurc from IT perspective
MGIShas already initiatedaprojcctforthe nex¢fJnancialyearto install solarpanel$iotheroofofth¢ main officebuilding
in Coventy. Offsetting rising electricity costs and th¢ opportunity to sell back to the gtid any unused power that is
generatrd. coupled with a three and a half to four-year payback ]xtiod demonstrates a good use of the ￿ServeS bein8
reinv¢sted in¢0 the business Hnd an ¢xarnple of the charity govern8n¢e strategic objective to utilise the Charity's resources
re5ponsibty. The high ROI and savings n]nning into many hundreds of thousands over the 25-year predicted lifetime of
the installation futther supports the decision iaken by the Board. Cutting the MCJTS carbon footprint, combating ¢limate
change.through the adoption of sLsiainablc wwerforthe busine55 Is imEx)rtant and i5 an actual onsite, real-world example
to yppr¢nti¢¢4 who Study renewables as part of thetr prowamme at bAGTS. whilst undertaking iheir apprenticeship.
Outdoor Ch2Uell%e
Apprentices once again partiripthd in outdoor challenge progrdmmes with over 100 undertaking th¢ experienct which
supports the behaviours element of their apprenticeship in activities that are different to the nornial working environmenL

MIDLAND GROUP TrAINING SERVICES LIMITED
TRUSTEES, REPORT
31 March 2025
Financi*l review
The financial year resulied in an unrestricted Surplus of £191,364, a fall from £469,877 in 2024.
Jrtcome
Total urwestricted income of £4.7m was generated in 2024125, a deuease of 3.60/0 from the previous year. Apprentice
training income represented 75 /0 of income, with coTnrnercTal activities, reserve movements and inve5tm¢nt income
making up the balance. Demand for commercial training operations remains robust, and the Tn￿te¢S made a strategic
investment this year to enhance our commcrcial training facilities Wtth the clear goal of boosting ¢omJn¢rcial course
turnover. This proactive step was deyigned Eo stttngthcn our financial position moving forward. The investment portfolio
renm)ed a superior rate of return compared to lower"yielding savings options, despite the volatility of global markets.
Expendilure
Unrestricted expendilmre in 2024125 was £4.56rn, £1.04m of this is related to our commercial a￿1VitieS, and the
remaining £3.52m was spent SLWOrting our charitable aims.
Funds
Total funds on 31 March 2025 were £4.2m (2024 £4.Im) of whi¢h all bui £222,025 were unrestricted.
Principal Kisks and Uneertalntles
SkUl¥E#Eldnd- when it was announ¢ed in the King's Speech in July 2024, Nurnber 10 said the aim of Skills Eing12nd
will be to "briDg together business¢¥, PToviders, untons, mayordl combined authorities (MCAS) and national
government to ensure we have the highly trAined workforce that F.ngland needs." At the same time, it also confmtd
that powers frorn the Institute for Apprenticeships and Te¢hni¢al Education {ItATEI will be Iran5teTr¢d to Skills
England. As we close thi5 CUTrent fiscal vear for MGTS it is still not cleor what concrete changes will be made to the
world of apprenticeships and ultimately how this will affect the businEs5 going forward. One of the key topics is the
governrnent's intention to r¢forni the system of assessment in apprenticeships, including EPA. Further changes are
atready being mentioned 5u¢h as foundation apprenticeships and changes to the off-the-job training polic5'.
Ofsled- having success￿11Y completed the most recent audit in 2024 with an overall grade of GOOD, Ofsted ha$
unveileda new inspection framework sei to be Come into force in NoYember2025, ann0￿Cing a significant shift aimed
al enhancing tran￿arentY and fairness in educational assessments. The main Ofsted ¢hanges for 2025 include detailed
report cards and a revised evajuation syste￿. These updat¢s ¥irn lo provide a MO￿ nuanced understanding of school
perfomianc¢, uhirnately benefiting educatorsi parents, and stak¢holders alike.
Inflfjilon, Growth and T￿￿tIOn- Government targets to reduce inflalion back to the 20/0 level have gAined traction.
however they have not yet reached that level from th¢ diuying heights ofthe previous Government. The result is that
there is still pressure on businesses from a cost of living that Continues its steady upward trend. An inLrcas¢ in the most
recent budget on National Insuran¢e, also heaps tnore financial pressure on MGTS through rising employment co#s.
It is too early to tell whether this will impact employer's appetiies for apprentice recruitment in the future. All of this
impacts on not only MGTS, plans for gromoh and ¢xpall5ion but the plans oc those ¢ustoTners we serve through our
apprenticeship and commercial course offerings.

MIDLAIYD GROUP TRAINING SERVICES LIMITED
TRUSTEES, REPORT
31 March 2025
Polleiel
serv
The Bowd of Tn￿tee6 have the freereserves (wuestricted fiuwjs ¢xcluding fixed a&set4 desip)ated fundg,
nd r￿ICted fiuth) needed to maiDtsin operdtii)ns if some in¢ots)e-gener4tsng activities are iemporardycurtailed.
This ensures ¢ontmued suw for our charitable mission even amidst pofrniial financial flU¢tUatio￿.
The T￿￿tee8c0n8iderthat anappropriate kniel of frcer&qerves on 31 Marth2025 wouldbe 6months of
budgeted expenditure amountillE to £2.17 milliorL The acts￿ free ￿ServeS OD (hat dat¢ 5thod at £1.29 Millio￿ a
shortfall of £0.88 million compared to the larget. Thi8 18 effeuively a&lr¢ssed by the I0￿-terni iovestnLCllt
portfolio V8h￿d at £0.9 million on 31. Mar¢h 2025. This demonstr*S our ¢ommittDent to prndent fimciAI
￿T￿ement 8nd ensures the availability of r¢80urc&% even during periods of temporary incow reductioL A
cOmpreh￿s1Ve re*iew of the re5eryes p)licy is o]rrenttyunderway ￿ will be c(ImpletvJ in the n¢xi fiscal year.
Under the Memorandum and AJticles of Au(Kiation, the charity has the power to iDv¢st in any way th¢ trustee8
wish. The Tnjgtees hkvc deternixned that the Clwities short terni inve5unents should ￿ in the forni of iDtere8t.
aring eash deN)sits v/ith major banks or financial institutions. Interest rates should be compdittv¢ al￿ free of
risk to theeapitsl. tDng¢r terni investments havebcen placedwitb inVeStmeAtmana8￿ in two sepat8t¢portfolias
as follows..
Portfollo l - is Managed in line with The Evdyn Parthers Strdtegy 4 approach to investhient risk and is
described a5 being appropriate for an investor who is comfortable with medium vo]atility of r¢ttun8,
typically having ari)und 550/0 of theif portfolio invested in equities, and who is #bl¢ ¢0 tolerate a Ioss of up to
154)A of the value of their portfolio in any one year. This percenlage loss is bas¢d oll what might be
reasonably expected 95Q/o of the time. The projected aDllualised rate of rthm QV¢T the longer tern is the
Consun)erPrice Ind¢x (CPI) +2y•
Porrfollo 2 is a bespoke portfolio designed to match MGTS 8nti¢wated liabilities moving forward. As $u¢
the a¢¢ount is invested ttt a Tnix of short-daied UK Government b(mds (I month to 2 years, with the majority
of the capital invested at the shorter end) allowing grow￿ of the priticipai whilm perniitting realibalion of
th¢ fvnds at defined tijne intervals (if requir￿1).
STRUCTURE GOVERNANCE AND MANAGEMEIYT
The Charity is a compamy, limited by guaraniffj and has no share capital. It was itiCOTFK)fdted on 17 July 1970. Its
govemingdocument i8 its Memordndumattd Articles of AssociatiOJL whichwere utdated on6thMarch 2019. The jiability
of each member in tbc evrnt of windin8 up is limited to £20.
528785
984899
Guknn Roa4 Coventy, CVI 2JG
Compat)y number
incxpai Office
The principal objects of the charitable wrnpaay are.. "To ddvance the theoreti¢al and pr￿tiCal education and trailling of
persons engaged or inknding to be engaged in ￿gIne￿ing gelle￿1 industrial and wmmarial a¢tivities"

MIDLAND GROUP TRAINll¥G SERVICES LIMITED
TRUSTEES, REPORT
31 Mirch 2025
To allow thechaTitable company totrade in activities complementary to its obje¢ts & subsidlary Company MGTS Business
and Training Services Limited, wa5 inCo￿orated on 22 September 2000. The Charity owns the 1,000 issued shares of £1
ea¢h. Taxabl¢ profits arising from th¢ 5ubsidi8ry are Gift Aided to the Charity.
Trn$teesl Directors
Th¢ Trustees are ¢le¢ted by the Members of the Comparty and setve for five y¢ws befi)re r￿￿ing. The Articles of the
Comp8ny allow forunlimited Tn]St¢e￿DLrect0rS. The Trustees may CO&OPt to fill¢asua] Yacan¢ies ￿lSIngdurIngthtY￿.
The following were Tn￿eS during the whole of the year underrevi¢w.'
M5 C Bell
Mr N Foster
MrKK￿e
Mr G F L8Wton
Mr D Montgomerv
Mrs T Reynolds
Mr A Watson
The followin8 w¢re app)inted as Trusttts duting the year..
Mr5 J Mustard- appointed 22 May 2024
The following resigned as Trustee5 during the year..
Mr S Marson- rest￿)ed 14 August 2024
The Truslees of the Charity meet at least 4 (imes per year. They set budg¢ts for the Charity and monitor its financial
perf(Trrnian¢e through detatled quarterly fjnancial repoits. Major decision5 aff¢rting the CharALy'$ uperations ar¢ takcn by
the Trustees.
The Chief Ixxutive. David Bridgens is responsible for implementing the Trustees policies. H¢ reports on A qu8rt£rty
basis to the TTU5tees. Additional ad hoc-I'nJ5tees meetings are called whenever it is feltnecessary either by the Trustees
or the Chief Executive.
Trustee induction trninirtg
New ttustees undetEO a series of briefmgs to infomi theT]] on their leg81 obligations under charity and company law, the
content ofthe Memorandum and Articles of AssociatioT4 the cornmilt¢e and decision-making pr￿eSSeS. thebusincss plan
and recent fmancial wfomance of the charity. During the indu¢ti¢)n they meet key employees and other bitstee&
Trustees are encournged to attend appropriate training events where these will facilitate the understanding of theirToIe.
Kry Man8gement Personnel
"Ihe following were key management personnel during the yetr undtrrcview:_
Chief Executive Officer
Director of Delivery and Operdtions
Dire¢itsr of Finance and IIR
Quality and Complian¢e ManageT
Customer Ertgagement Manager
Curriculum Manager
David Bridgens
Steve Pabner
Ruth Smith
Ruth Plane
Adrian Simkiss
Adam Murray
Arrnngtmtnts for setting pay and remuntrntion
Tn]stees do not receive any fomi of remuneration and ￿ve thcirtime freely.
The trustees review pay at)nually in (ktober for all stsff. including key pcrsonnel. Consideration is taken of the rate of
inflation, and benchmark pay rates within the industry.

MIDLAND GROUP TRAINING SERVICES LIMITED
TRUSTEES, REPORT
31 Marth 202S
Rtsk man*gement
We confrm that major risks have been reviewed and that systerns and procedures hay¢ been establtsh¢d to manage those
risks.
Government and Ageneleg
Thc Govemrnent will ￿lty fijnd 4)prenticeships in small bu$ine$5es from 1st April 2024 by paying the full cost of
rraining for ￿YOne up to the age of 21- reducing ¢osts and burden5 for bu5ine5ses and delivering more OppOr￿nitieS for
young people io kick stsrt ihetrcoreers. This will remove the need for small employcrs to meet some of the cost of
trainitjg and saves time costs forproviders like fither education colleges who Qu￿ent￿ need to souwe fi￿d1Thg
sep8rately from the governmet)i And I￿81ness¢$.
The move is underpinned by an additional £60 million of new government fLmding fornextyear, guaranteeing that
where there is demand for apprenticeships from businesses, the governmenl will ensur¢ the￿ is enough fimding to
deliver them. From the start of April, the guvernrnent will also increase the amount of fimding that employers who are
paytng the apprenticeship levy can pass onto other bu5iness¢s. Apprenticeships ￿ currLMtly be fimded by a Icvy paying
employer ltznsfe￿in8 up to 25/0 oftheir unused levy to a different employer.
IfATE aTe undertaking a set of exceptiona] fijnding band reviews fur 20 high-volume apprenticeships in skills 8hortag¢
occupations and priority sectors. The 20 apprenticeships. which are all at l¢v¢l 2 or 3, were choscn by the DtE
following Consultation with provider typresentstive b(NAies. and taking account of available evidence on the impact of
cost inflation on appreniiceships delivery. The reviews are intended to help ¢mployers and apprcnticeship providers
tackle rising costs in Priority sec￿TS with skills thortages. including eng￿e¢ring.
ESFA funding rules version 2, of the apprentic￿lP funding rules, brought kty changes, including recognising thai I
18-year-olds starting apprenticeships are unlikely to hold relevant prior learning. Providers must ¢heck an individual's
prÉor learning r￿ord and d5$￿$$ their work history for relevant prior learnlljg. Where there is no relevant prior learntng
and work experience, providers should document this with the employer and no further action is needed. If there is
Televant PTior learning and wo]* experience, providers can compietc the nornial skills scan pro¢ess to detemiine whether
there should be a reduction in price. content and duration.

MIDLAND GROUP TRAINING SERVICES LIMITED
TRUSTEES. REPORT
31 March 2025
Small Companies Exernpiion
This report is prepared in accordatKe with special provisions of part 15 of the Companies Act 2006 r¢lattng to small
companies.
The tsustees who are the charitable c(JmpaDy'S directors are pleased to present their report togetber with the fllwicial
statements of the charitable company for the year ending 31 March 2025.
AUDITORS
A resolution will be putto the forthcoming AGM to reappoint Lucktnans Du£k¢tt Palker Limited as Auditors for the year
ending 31 Match 2026.
Slatement as to diselosure of inform*tion to auditors
The tr￿tts who were in otTtce on the date of aroroval of these financial ststements have conf]rnied &$ far as they are
aware, thai there is no relevant audit inforniation of which the allditors are unaware. The trnstees hav¢ confimied that
they have taken ￿1 the steps that they ought to have taken 8$ trustees in order to rnake thelnselves aware of any relevant
audit infoTmalion and to establish thal it has trKen communicated to the audi¢Or.
PROFESSIONAL ADVISORS
The Charity is provided with professional Services on a commerciAI basis by..
Lu¢kman$ Du¢k¢tt Parker Lllnited
Audil
Lloyd5 Bank Pl
Bal￿]ng
tland Hatton Button Solicitor5
Loveitts Estate Agents
Jensten Group
Insurance
Evelyn Parthers
Investment management
(kn beh￿r of the Board
G IAwton
Chairman
Gulson Road
Coventy
CVI 2JG
13 August 2025

MIDLAND GROUP TRAINING SERVICES LIMITED
DIREcfoiis' RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS
31 March 202S
The directors are Tesp)n8ible foT preparing the Annual Report and the fllJan¢ial statements in accordance with applicable
law and United Kingdom Generally Acceptrd Accountitjg Practice. Company law requires the directors to prepare
financial stalernents for each fin8ncial year which give a and fair view of the state of affairs of the ¢haritable
company And of the incoming resources and application of yesources, including the income arld expenditttr¢, of the
chaTitable company forthat period.
In prewing those financial Statemen￿ the directors are required to..
select suitable accounting policies and then apply them consistently.
make judgements and estimates that are reasonable and prudent.
prepare the fmancial statements on the going ¢oncern basi5 unless it is inappropriate io pr¢sum¢ that the
charitable company will continue in business:
observe the methods and principles in the Charity SORP
'Ihe directors are reswnsible for keeping propet 4￿COUntl￿gI record5 which disclose with r¢asonable accurncy at any
time the financial position of the charitable company and to enable them to ¢nsure that the fmancial statements comply
with the requirements of the Companies Act 2006. They are also responsible for safeguarding the assets of the
¢harit2ble eompany and hence for taking reasonable sleps for the preventi¢)n and detection of fraud and other
I￿¢gularitIcS.
10

MIDLAND GROUP TRAINING SERVICES LIMITED
AUDITOR'S REPORT
Indepelldent iuditor's report to the member5 of Midland Group Tr4ining Services Llmlted
Opinio
We have audited the fina￿¢1￿1 ststements of Midland Group Training SerYi¢es Ltd (the barent con)pany') and its
subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial
Activities. the Consolidated Balance Sheet. the parent company Balance Sheet, the Consolidated Cash Flow Statement
and notes to the flnancial stAtements, including a summary of significant aCCOLmting policies. The f]nancial reportillg
framework that been applied in their preparation is applicable law and United Kingdom Accounting Standards
(Un]￿d Kingdom Generdlly Ac¢¢ptrd A¢¢ounting Practice).
In our opinion th¢ fmancia] statements..
give a true and fair view of the state of the group's and parent company's affairs as at 31 March 2025 aod of
its ￿Coming resources ond application of resources, including its income and expenditure, for the year then
have been property prepared in accordance wilh Uniied Kingdom Genernlly Accepted A¢¢ounting Practice.
and
have been prepared ill a¢¢ordan¢e with the requirements of the Companies Act 2(M)6.
Basis for opinio
We conducted ouraudit in accord8ne¢ with Inlemaiional Standards on Auditing (UK) USAS (UK)) and applicable law.
Our responsibilities under those standards are further des¢Tibed in the Auditors responsibilities for the audit of the
financial siatements section uf our report. We are ￿ndependent of the group in accordance wlth the ethical requirements
that are relevant to our audil of the f￿￿1¢1￿ siatements in the Lry(, including the FRC's Ethical Standard, and we have
Ifilled our other ethical responsibilities in aCCord￿ce with thes¢ requirements, We believe that the audit evidence
we have obtained is sufficient and appropriate to piovide a basis for our opinion.
Conclusions r¢l8¢ing to going concern
We have nothing to report in respect of the following matter5 in rela¢ion to which the ISAS (UK) require us io rcport
lo you where..
the trnstees, use of the going concern basis of accounting in the prcparalion of the fmanoiai statemenis is noi
appropriate; or
the trustees have not dis¢losed ill the fmancial statemenls any identified material uncettsintie5 that may c&4t
signtfi¢ant doubt about the charitable company's ability to continue to adopt the going concern basis of
accounting for a period of at least twelve months from the datc wh¢n the fmancial staiements are authorised
for issue.
Other Information
The trnstees are responsible for the other inforniation. The other information cornpri5es the inforniation included in the
annual reporL other than the financial siatements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other infornjation and we do nol ¢xpre5s any forni of
assurance conclusion thereon.
In connection with ouraudit of the financial statements. ourresponsibility i5 to readthe other information and, in doing
so, Consider whether the other infomiation is materially inconsistent wlth the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstatcd. If, based on the work we have peTforn)ed, we
conclude thai ihere is a material misstatement of this other infomiation, we are required to report thai fa¢t. We have
nothing to rep)rt in thi$ regard.
Opinion oth other matters preseribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the infonnation given in the Report of ihe-lrnsiees for the financial year for which the fmancia]
statements are prepared is ¢onsistent with the financial statements. and
the Report of the Trusiees ha5 been prepared in accordance with applicable legal requirements.

MIDLAND GROUP TRAINING SERVICES LIMITED
AUDITOR'S REPORT
rt to the members of Midland Crou Trainin Services Limited
Inde
ndent audltor's re
M8lt¢rs on Ivhich we are requlred to report by exeeptlon
In the light of the knowledge and understanding of the charitable ¢ompany and its environment obtsined in the course
of the audit, we have not identified material mis51atements' in the Report of the Trustees.
We bave llothing to report in respect of the following m#tters where the Companies Acl 2006 requires ￿ to report to
you if, in our opinion..
adequate a¢¢ounting records have not been kept or returns adequate for our audit have not been
received from branches not visited by us,. or
the fll)ancial statements are nol in agreement with the accounting records and returns. or
certain disclosures of trnstees, remuneration specified by law are not made, or
we have not received all the inforn]ation and explanation5 we require for our audil. or
the thjstees were not entitled to take advantage of (he small companies exemption from the
requirement to prepare a Strdtegic Report or in preparing the Report of the Trustees.
Responslbllltles of trustees
As explained more fijlly in the Statement of Trustees Responsibilities: the tru5t¢¢5 (who are also the dire¢torn of ihe
parent company for the purposes of ¢ompany law) are responsible for the preparation of the financial stat¢m¢nts and
for being satisfied that they Biv¢ a true Jnd fair view, and for such internal control as the trusiee5 deterniine is
ne¢ess8ry to enable the prepardtion of financial ststements that are frcc from rnaterial misstatern¢nt, whether due to
fraud or ern)r.
In preparing the financial staiements, the trustee8 are responsible for assessing the group and the parent company's
ability ro continue as a going concern, disclosit)E, a5 applicable, matters related to going concern and using the going
concem basis of accounting unless the rrustees either intend to liquidaie the charitabl¢ ¢ompany or to cease
operdlions. or have no realistic alternative but to do so.
Our responsibilities for ihe audit of the financl818tatements
Our obj¢¢tive$ are to obtsin Teasonable assurdnce about whcther the financial statements as VI whole are free from
material missiatem¢nL whether due to fraud or etTor. and ￿ issue a Report of the Independent Auditors that includes
our opinion. Reosonabl¢ assurance is a higj leyel of assurance, b￿t iy not a guarantee th￿ an audit conducted in
a¢¢ordan¢e with ISAS {UK) will alway5 detect a material misstatement when it exists. Misswernenr8 Can arise from
fraud or erroT and are conside￿d material if. individually ur in the aggregate, they could Teasonably be expectcd to
influence the economic decisions of wers taken th¢ b4LSi5 of these fiTW]cial siatemcnl$.
ItTegularitie5, including fraud are instances ofnon-rurnpliance with laws and regulations. We design proccdures in
line with our responsibilities, outlined abov¢, t(Tr detect material misstatements in respect of itTegularitie5, including
fraud. The exient to which our procedures ate ¢apJbl¢ of del￿tIng these itTegularitie5, including fraud is detailed
below..
In identifying and assessing the risk of material misstJt¢ment in respect of irregularities. includtng fraud and non-
compliallce with laws and regulalions, our pro¢¢dures included the folloW￿g..
reference to past history and experience of the Entity,
enquiry of managemeni including obtaining ¥nd reviewing supporting do¢umentation concerning the
Entity's procedure5 relating to..
-identifving and cornplying with laws and regulation5 and whether they w¢r¢ oware of any insian¢es of non-
compliance-
-detection and response to risk of fraud and whether they were aware of any actual or suspecied instances of
fraud.
aSS¢5srnent of the conlrols and processes that the Entity ha5 in plac¢ lo mitigate risk.
Our assessments included the identification of the following potential areas for fraud:
Management override of control; and
Revenue recogni¢ion- specifically the recogtlition according to tin)ing of the provision of tsining serYice&
and manipulation of revenue through mallagcment override of journals.
12

MIDLAf4D GROUP TRAINING SERVICFS LIMITED
AUDITOR'S REPORT
ort to the members of Mldland Grou
Inde
endent auditor'5 re
Tr¥Jini
5ervic¢s Limited
We design audit procedures by tailored and direeted testing to aid and support the deterjnined level of risk. In
reswnse to the assessed risk we plon ￿di1 tests and procedures that target specific areas where miystatement may
(Kcur. These procedures and the extent to which they ar¢ ¢Apabl¢ of detecting irregularities, including frau￿ ar¢
det&iled below:
We critically assessed the appropTiateness and tested the application of the revenue and cost recognition
policies.
Wc ￿$t¢d the appropriatene&s of accounting journals at)d other adjustments made in the preparation of the
fll)ancial statements.
We reviewed the Entity's accounling polieies for non-compliance with relevant standards.
We made enquiries of rnanagemcnt and reviewed correspond¢nce with the relevant authorities to identify
any i)Tegularities or instances of non-compliance with laws and regulations.
In perforniing an audit in accordJnLe with UK GAAP, we exercise professional judgcment and maintain professional
skepticism through0￿ the audit process.
We also communicated relevan( identified laws gnd regulations and potential fraud risks to all engagement tealn
mem1￿Is and remained alert (o any indicalions of fraud or non-Lompliance with laws and regulations throughout the
audit.
The risk of not detecting a material misststemeni reslllting frorn fraud is higher than for one Tesulting from error, as
fraud may involve collusion or override of internal eontrols. There ar¢ inherent limitstions in the audit procedures
perfornJ¢d.
A further description of our r¢5ponsibilitie5 for the audit of the f￿ancial staiements is located on the Financial
Reporting Coun¢il's w¢bsit¢ at www.fr¢.org.uklauditorsresponsibilities. This description fornis part of our Report of
th¢ IndyDdent Auditor5.
Use of our report
This report is rnade 501ely to the charitable company's members, as a bod).: in accordan¢¢ with Cbapter 3 of P4rt 16
of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the ¢haritable c4)mpany's
Inembers those matteTS we are required to state to th¢rn in an auditors, report and for no other Purpose. To the fullest
extent pemiitted by law, we do not accept or assume r¢5ponsibility to anyone other than the charitable company and
th¢ charitable cornpany's mernb¢r
a body, for our audit Work, for this repoo or for the Opinions we have fornied.
Mark Spafford
CCA ACA (S£nior Statstory Auditor)
for and on behalf of Lucknwis Duckett Pa￿r Limited
I 110 Elliott Court
Coventy Business Park
H¢r&ld Avenue
Coventy
West Midlands
CV5 6UB
Date.. 2fr.
13

MIDLAND GROUP TRAINING SERVICES LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
for the year eDded 31 MAreh 2025
Unre51ri¢t¢d
fund5
Restricted
Tot41
2025
Totsl
2024
Note
Income:
Ineomefrnm Charlltble Qcilvld￿.'
Subscriptions, training, ptroj¢¢ts. ¢outBe
fees and ex¢rn services
3297.492
77,000
3J74,492
3,471.332
Incopmelrnm other iradlng act1￿￿..
c(￿er¢ial trading operations
1248,100
1,248,100
1,336,582
Invesknent income
60,750
60,750
49.145
Tol41 Intomlng resources
4,606,342
77.000
4,683,342
4,857,059
Expenditure:
Costs 0frU￿1￿zfv￿d.¥.'
Inv¢5tmcnl managcmcnt costs
Commercial trading OFernllons
1,034,943
1,034,943
1,046210
E¥p*tsllthre ehtsrtsttbleae￿V1lI￿s
3,403,546
119,684
3.523230
3.i89.958
Totsl expendithre
4.438,489
119,684
4,558,173
4.436,168
Net ineomel (loss) before othtr
retognised 8Ain$
167.853
(42,684)
125,169
420,891
Other recognisedloKves
Change in fair value of pension ￿h£Tr¢
li&bility
Unrealised gain on inv¢siment assets
12
1.367,524
23,511
23,511
50,104
N¢t moY¢m¢nt In fvDd$ for the year
191.364
(42,684)
148,680
1,838,519
Fund balance broughi fojward at
April 2024
3.816.746
264,709
4,081.455
2242,936
Fund balanct c*rried forward at
31 March 2025
4,008,110
222,025
4.230,135
4,081,455
The staiement of fll)ancial activities includes all gain$ and loss¢s r¢¢ognis¢d ID the year and in the prewous yeor.
All the compaTLy'S actiTrities are cla55ed as continutng.
14

MIDLAND GROUP TRAINING SERVICES LIMITED
BALANCE SHEETS
at 31 Mareh 2025
Com
No 984899
Group
Charlty
2025
2025
2024
2024
Note
Tangible fixed &ssets
Investsnent in subsidiary undertaking
Other inve$tmeDi$
2,896,466
2,649,158
2,896,466
1,000
1,666,036
2,649.158
1.000
1,559.302
1,666.036
1,559,302
4.562,502
4208,460
4.563,502
4.209,460
Current aMets
Debtors
Short tenn deposits
Bank balanc¢ and ¢ash
10
564,Y86
793,522
154,571
602,498
1,169,189
68,139
346.201
793,522
11.914
380.663
1.169.189
23,915
1.513,079
1,839,826
1,151,637
1.573.767
Credil•ry- amounts falliDg due
within one year
{948J32)
(905J39)
(801.726}
{927.105)
Net current assets
564,747
934,487
349,911
646,662
Creditors- amounts falling due
after more than one year
(897,114)
(1.061,492)
(897.114)
(1,061,492)
Iyet asgets
4230,135
4.081,455
4,016299
3.794,630
Fundi,.
Restrietsd fi]nds
lJnTcstheted fimds
N(m.charitsbl¢ trading fund5
13
222,025
3,794,274
213,836
264.709
3.529,921
286,825
222.025
3,794274
264,709
3.529.921
13
Total funds
4230.135
4,0¥1,455
4,016299
3,794.630
The f￿3￿¢121 sratements have been wepared in aeeordance with ￿ela1 prnvi5ion5 of part 15 of the Companies Act2006
relating to sm&ll charitable eompanies.
The fmancial statements on pages 14 to 27 were approved by the Board of Dir¢cwrs and authorised for issue on 13th
Augus
025 aDd wetT signed on its behalf by..
G Lawton
Chaintia
15

MIDLAIYD GROUP TRAINING SERVICES LIMITED
CASH FLOW STATEMENT
for the year ended 31 Mareh 2025
Group
2025
2024
Nole
Cxsh flows from oper8ting activities:
Cash generated from otkralions
315,527
282.374
Net e*sh provided by (used in) operating
Aetivities
315,527
282,374
Cash liows from investithg setiviti￿.
Interest received
Sale of thngible fLxed &ssets
Illlrhase of L￿gi￿le f￿ed assets
chase of ￿Yes￿nentS
27,527
133.219
(715,508)
(50.000)
39,947
27,321
(233,677)
(1,500,000)
Net cash provlded by (used in) Investlng
activltles
(604.762)
(1,666,409)
Change In casb and eash equiv#knt5 In the
reporting period
(289235)
(1.384,035)
Cash and equlv8lents at tbe
beglnnlng of the re￿rtIllg p¢rlod
1237,328
2,621.363
Cash and cash equivalents at the end of
the reportin% period
948,093
1237,328

MIDLAND GROUP TRAINING SERVICES LIMITED
NOTES TO THE CASH FLOW STATEMENT
for the year ended 31 March 2025
Reconciliation of net income to net cash from opernting aetivities
2025
2024
Net income for th¢ T¢POrtirtgp¢riod {￿ perthe statement of financial activities)
Adjllsknents for.
148,680
1,838,519
Depreciation charges
Profit on disposal of fixed assets
Inve51ment income retained
Invesunent income reinvested
Unrealised gain on investment ￿ets
Notional interest on i￿10n liability
Change in fair value of p¢nsion scheme liability
{Increaseydecrease in debtors
InCre￿I{deCre3se) in creditors
350,361
{15,380)
(27.527)
(33.22i)
(2i.511)
9,022
334,088
{2.760)
(39.947)
(9.198)
(50,104)
(1.367,524)
27,578
(448,278)
37,512
(130.407)
Net cash provided by (used in) operating activities
315,527
282,374
17

MtDLAND GROUP TRAINING SERVICES LIMITED
ACCOUNTING POLICIES
31 March 2025
AeeouDting Polities
JJ•sis ofpreparalion
The financial ststements of the Ch￿ilable company, which is a public benefrtcntity under FRS102, have been prepared in
accordance with the Charities SORP (bKS102) 'Accountti)g and Reporting by Charities.. Statsjnent of Recommendcd
Practice applicable to charities preparing their acLounts in accordance with the Financial Repornng Standard in thc UK
arAd Republicof Ireland (FRS102X effective l January 20191,, Financial Reporting Srandard 102 'Th¢ Financial Rewrting
Standard applicable IA the UK and R¢public of Ireland, and the Companies Act 2006. The fllwicial stat¢ments have been
prepared under the historical cost conY¢ntion with the exception of investments which are included at market value.
Actounting changes
The significant aeCou￿g r<)lieies adopted are descri￿￿ below.
Slgnlllcant Judgements and estimates
The prepar￿10ft of the financial ststements require5 management to make significant judgements estiTnates that affe¢t
the amounts reported within the balance sheet and statement of fmancial activities. The following ar¢ the Company's
key sourees of estimation uneertainty..
Multiv employer defin￿ benefit pension Scheme liability
The schedule of contnbulion5 for the multi-ernployer defined benefit pension schem¢ is detern￿ed using actuarial
valuations. The aciuarial valuation involves rnaking assumptions about di$￿Unt Tate5, future salary tncreases mortalTty
rates and futtwe pension incrcascs. Due to the complexity of the valuation, the ￿der￿Ill8 &ssumptions and the long-teTm
t]ature of these plans. such es(imates are 5ubjectto significant uncertainty. The mortality rate isbuedon publicly available
mottslity iables for the specific county. FbtLre salary ald pension increases are b&5ed on ex￿ctrd ￿tUre irttlation rat¢5
forthe respective county.
"lThe Company has included a liability within the financial siatements to reflect its own future fimding obligations based
u￿n a discounted cash flow basis. 'Ihe discount rdtt used is 0.85fj/o.
In deterniining the approExiate discount rate. management considers the interestrnte of AA corporate bonds denominated
in Great British pound sterling. with a bond mattvity Simil￿ in duration tts the defined benefit fLthding obligation.
Croup Ilnanclal ststements
The statement of financial activities {SOFA) and ￿0Up balan¢e gheet ¢onsolidate the f]nancial statements of the chariry
and its subgidiary undertaking. The results of the $ubsithary are ¢onsolid*ed on a line by line b8SiS.
A separnte SOFA and income and expendiwre a¢¢ouni are not presenied for the charity itself following the exemptions
afforded Section 408 of the Companies A¢¢ 2006.
Ineome recognltlon pollcy
Income is recO￿lS¢d when the charity has entitlement to the ￿nds, any perfOrni￿ce conditi(x)s attached to the item{s) of
income have been meL ir is probable that the income will be received and the amount can be measuredreliably.
Income from governmenl and other gra11￿ whether 'capital' grants or 'revenue' gran¢s, is reco￿lSed when the clwity
has entitlement to the fiinds, any perfomiance conditions attached to the grants have been met. it is probable that the
income will be receivel and the amount can be measured reliably and As not d¢f¢Tr¢iL
InvesDnent incotne is recognised on a receivable basis.
18

MIDLAND GROUP TRAINING SERVICES LIMITED
ACCOUNTING POLICIES (continued)
31 March 2025
Resources expended and irrvover4bl¢ VAT
Expenditure is recognised when a liability is incurred. cOntr￿tual a￿allgeMellts and perfom)on¢e related graiits are
recognised &% goods and services are supplied.
Charitable activities incbjde expenditure a$￿)ciated in the provision of training setvi¢es and include both the direct costs
and support costs relating to these Xtivlties.
The charitable company recognises the cost of contractual redundancy payments as being part of the ¢ost of the delivery
of charitable activities.
Govemance ¢ost8 include those IncU￿¢d in the governance of the charity and its assets aDd are primarily associated with
constitutional and statuiory requirements.
Support costs in¢lude the central fL]nctions and have been allocated t(> activity cost categories on a ba%is eonsistent with
the use of resou￿e5, ¢.g.. staff costs by the estimated time spent and other ¢ost5 by their estimaied usage.
Irrecoverable VAT is charged against the category of r¢sour¢¢$ exrtnded for which it was incurre
Taxation
The compgny is a registered charity and is exempl from tsxation on its ¢haritable activities. The subsidiary company I
no th liability ￿ it donate5 Its taxable profits to the charity under gift aid.
T&ngible fjxed *55ets
Fixed assets (excluding Investme￿ts) arc qtsod at cost less accumulated depre¢iation. Assets costing £3.000 or le55 ar¢
capiialised. Depreciation is charged by instalmcnts at rates estimated to write off the cost of the agset less any residu
vAlue over the expected useful lives at thc followTng rates.--
2⅓•/0 per annurn on freehold butldings
40/0 per annum on ITeehold building improvements
IOO/o per annum on leasehold building improvements
IOO/• to 250/0 per annu]n on equipment and vehicle5
33 lJi/bo per annum on Gompuler equipment
On disposal of assets in the ordinary Course of bu5ine5s adju51ments are mad¢ to the depreciatton charge to reflect
differ¢n¢es ben¥een the a¢rual and estitnated aggregate depreciation.
InvestmeDts
tnvestments h¢ld a5 fixed assets are revalued al mid-mat*et va]ue at the balance sheet date and the gain or loss tak¢n
lo the Statetnent of binancial Activities.
Pensions- Defined Benefrt Schetne
Th¢ defined benefit scheme was ¢195¢d io new ci)ntribuiions on 3 1st August 2010. tn aC￿rdance with paragTaph 28.11
of fRSE02 the conLpany as a parttcipating employer to the scheme. has recognised the present value of its share of the
agreed Gontribution5 on the balance 5h¢et as a liability on a discounied Cdsh flow basi5. MGTS'S estirnated liability on
31. March 2024 wa5 £1.23m and is recalculated each year, with movements in the liabitity reflected in the Statement of
Financial Artivities and the element relattng to the unwinding of the discouni in interest payable. The C4)mpany h&$
renegotiated its recovery pian a5 a result of the lalesl actuarial valuation on 31. Marth 2023.
F,urther infom￿tIOn in relation to an upd￿¢ on the current status of the pension s¢h¢me deficit and th¢ mosl recent
valuation can be found in note 12 tsn page 25.
Th¢ Compatry is liable for its own funding obligations aDd is also liable for those of the other Sponsoring ¢mployers,
should those sponsoring employers defrdult on their obligations.
PensM)n eost8- Deflned Contrlblltlon Scheme
Th¢ amount charged to the Statement of Finan¢ial A¢tivitie5 in respect of pension costs is the contribution payable
the year. Any difftrences between contributions payable in the year and contributions actually paid are $hown as eith¢r
accruals or prepayments in the balance sheet.
19

MIDLAND GROUP TRAINif4G SERVICES LIMITED
NOTES or4 FINANCIAL STATEMENTS
31 M*reh 2024
structure
The charity has a number of restricted income funds to accouni for situations wherc a donor requir¢s that a donation m￿t
be SF¢nt on a particular pujpose or where funds have been rdised for a SFrtific purwse.
All (Nher funds are unre5tric*d income funds.
Leg81 stalw of the Charity
Th¢ Charity is a company, limited by guardntee, and has no shar¢ ¢apital. Jt was incorporated on 17 July 1970.
Its governing document is its Memorandum and Articles of Asso¢iation. The liabiliry of each membcr in th¢
event of winding up is limited to £20.
Inves(ment income
2025
2024
Interesl re¢eiYable
Investsnent incomc rcccivable
27,527
33223
39,947
9.198
60,750
49.145
lthcome from ChATitsble Aotivities
TThining ge￿l¢eS provid&J
3.374,492
3.471332
Ch4rltable Acthrltles Costs
Th¢ charity undejtskes dir¢a charithbl¢ a¢tivilies and doe5 not make grant payments
Provision of training services and projects
Support costs- salaries and office eosis
3,422,569
104,361
3.295.785
94.173
3.526,930
3,389,958
Govern4n¢¢ ¢05ts
Salaries and office costs
Audiiors, rernunetwion
Audir
18.270
16,578
9,450
1.800
7.985
1,700
29,520
26263
20

MIDLAND GROUP TRAINING SERVICES LIMITED
iYOTES ON FINANCIAL STATEMENTS
31 March 2025
2025
2024
Net in¢oming resources
Nd incorning resources stated after chargingl (CTediting):
Director5, ond officers, indemnity insurance
Depreciation of tangible r￿ed assets..
- owned a55ets
. lea￿d assets
(Profity]oss on diswsai of tangibl¢ fLxed assets
Notional int¢rest on pension liability
282,741
67,620
(15.380)
9,023
266,647
67,440
{2,760)
Staff costs
Wages and salaries
Social security cosLs
Pension costs
1,959275
231,479
153,985
1,805.913
213,289
132,397
2J44,739
2,151,599
Average number of employc¢s
46
45
The number of employees who received emoluments of Tnore than £60.000 in the year was as follows:
£60.001- £70,000
£70.001- £80,000
£80.001- £90,000
£90,(M)O- £IOO,000
£120,000- £130,0(M)
£130.000- £140,0(xI
Key thanggemertt personThel
Emoluments
Pension contributions to defined contribution scheme
481,496
30232
447,625
28233
511,728
475,858
Tr directors do rtotr¢¢eive emoluments or expenses.
Pensi)n ¢osts- Defined Benefit Scheme
In addition io the aiw)ve. the Company made a payment of £170.(K>O (2024.. £192220) to th¢ mu]ti•ernployer
def￿¢d benefit scheme (see note 12 on page 25).
Pension costs- Defined Contribution Scheme
The company provide5 pensions for current employees. through a dcfined contribution scheme. The employer
contributions for the period were £108201 (2024 £108.348}. "n)e running costs of the scheme are amalgarnated
with the Defined Benefft scheme and cannot be separately identified. There were no outstanding or prepaid
contributions at the balance sheet date.
21

MIDLAND GROUP TRAINING SERVICES LIMITED
NOTES ON FINANCIAL STATEMENTS
31 March 2024
Tangibk fixed assets- group and eharity
Frtthold
IR2sehold
Equipment
Property Improyemettts & vehicle5
Total
April 2024
Additions
Disposals
2,283,809
281,699
1.254,933
4,236
3,015,406
429,573
(561,383)
6,554,148
715,508
(561,383)
31 March 2025
2,565.508
1,259,169
2,883.596
6,708.273
DepreCia￿n
l April 2024
Charge foryear
Disposa15
994.986
26,858
573.183
67,620
2,336,821
255,883
(443,544)
3.904,990
350,361
(443,544)
31 March 2025
1,021,844
640,803
2,149,160
3,811,807
Net book value
31 March 2025
1,543,664
618,366
734,436
2,896,466
31 March 2024
1288,823
681,750
678,585
2,649,158
On 30 June 2021 the Company granted in favour of the Thislees of th¢ EEF Staff Pension Fund an uncapped charge
over the freehold properry at Gulson Road, Coventsy, included in the balance sheet at £1.2m.
Investments
2025
2024
Mi&m4rktt valu¢ 4t:
l April 2024
Invested
Income r¢inve5ted
Untralised gain on investsnents
1,559.302
50.000
33.223
23,511
,500,000
9,198
50,104
31 March 2025
1.666.036
,559,302
22

MIDLAND GROUP TIL41NING SERVICES LIMITED
NOTES ON FINANCIAL STATEMENTS
31 March 2025
Group
Charity
21125
2024
2025
2024
Fixed asset investmellt
Shares ill subsidiary undertaking
1,000
.000
Subsidiary llndert*kiDg
MGTS Business and Training Services Limited which was incorporated llj England on 22 September2000 pays
all its tsxable profts to the chaTity by Gift Aid. MG I'S Buslljess and Training S¢rvice5 Linited operates as an
¢xe¢urive arni of the charity. The charxry omis the entire issucd share capital of 1,000 ordinary shares of £1
ta¢h. A summary of the trading results is shown below.
Summary ol proflt Ind loss *eeoullt
2025
2024
Turnover
Interest receivable
Cost of sales and administrative expenses
Governance wsts
1248,100
679
(1.030.993)
(3,950)
1,336,582
153
{1,046,210)
(3,700)
Net profit
Retained profit brought forward
Amount gifted to the charity
2l3,836
286,825
(286,825)
286,825
231,582
(23 1,5821
Retsined in the subsidiary
213,836
286.825
Tbe assets •nd ligbili¢i¢5 of the $ub5idi4ry were:
lryixed assets
Current assets
Creditors.. amounts falling due within one year
659,598
{444,762)
660.948
1379,123)
Net asset5
214,836
287,825
Aggregate share capital and Teserves
214,836
287,825
23

MIDLAND GROUP TRAINING SERVICES LIMITED
NOTES ON FINANCIAL STATEMENTS
31 March 2025
Group
Charity
2025
2024
2025
2024
10 Debtors
Amounts falling due within one year
Trade debtors
Prepayments
Accrued income
426,663
123,459
14,864
438,088
160,711
3,699
213,751
117,586
14,864
235,874
141.090
3,699
564,986
602,498
346,201
380,663
li
Creditors
Amounts falling due within ot)¢ year..
Trade credito
Taxacion and social security payable
A¢£n￿lS
Pension deficit liability
Amount due to subsidiary undertaking
571,045
129,444
74,443
173.400
520.849
134.932
79,558
170.000
163,453
103,179
63,538
173.400
298.156
190,357
98.092
67,768
170,000
400,888
948,332
905,339
801,726
927,105
Amounts falling due after onc year:
Pension deficit liability
897,114
1,061,492
897,114
1.061,492
Included within trade creditors 15 deferred income of £372,164 (2024 £285,192). Th￿e amounts are deferred
because th¢ income relates to fuwre wiods.
DefertTd In￿Me at l April 2024
Used in year
Defcrred in year
285,192
(283,247)
370.219
Deferrcd income at 31 Ma￿h 2025
372,164
24

MIDLAND GROUP TRAINING SERVICES LIMITED
NOTES ON FINANCIAL STATEMENTS
31 March 2024
12 Pensions
The Company provides pension5 for ils employees through participation in the Engineering Employers, Fedemion
Staff Pension frund (the bund), which 15 governed by a Trustee Board and maintained independently of the
Company's fmance5 for def]ned benefil rntmbers. There is & separdte Master Trust for defjned contribution
tnembers, which is a]so operated independently of the Cumpan}'. The Fund was established to enable a number of
autonomous but related employers to operate a scheme through the sharing of risk within a wider membership b￿¢.
As such it is noi possible for an undertying employer to identify its share of the underlying assets and liabilities. For
multi-employer schemes where this is the case, paragraph 28.40A of FRS102 requires that Midland Group Training
Seryi¢es Limited account for its share of the present value of the agreed pension contribution5 payable to the scherne
and where contiibutions are affected by a surplus or deficit in the scheme, to disclose infomiation about the sury)lu$
or deficii and the implications of the su￿lUS or deficit io the Company.
2023 V8luA¢io
At the date of the last completed va]uation of the fjjnd {31" March 2023), the m8Tket value of th¢ Fund's assets
amounted to £143m. The valuation was carried out by an independent qualified actuary adoptsng a market-based
approach ￿SIng the projected unit method and the followin8 main assumptions..
Single equivalent average rates
/0 per
(inppaaise ierm-depe*den¢ crn ore wed)
A]￿uM
Rate of investment relurn (initial portfolio)
Rate of investment remrn (long tenn ponfolio)
Rate of price inflalion
Raie of incre&%e in salaries
Rote of pension increases..
RPI up to 50/0
RPI up to 50/0.. minimum 3V
CPI up to 5Q/o
CPI up to 2.5Q/o
3.6 {RPI}
As at the valuation date these assets were insufficicnt, on the assumptions adopted, io meet thc cost of the Fund's
accrued liabilities. Th¢ Fund had a deficit of £19m on an ongoing funding basis.
The split between participating eTllployeTS was rc-evaluated on 3 March 2023 based on updated assumptions,
rcsulting in the proportion attribut¢d to MGTS'S mcTnbers decreasing to £1.3m (6.70/0) 2020.. 8.3V/(*.
sUb￿equent7y, particspating employers agreed contribution schedule5 with the Ttusiee that are cxpected to b¢
sufficicnt to elilninate their share of the revised deficit over a period acceptable to the Trustce. Under this agreement
Midland Group Training Services Limited is liable to make the following contributions in respeet of its Share of the
deficit in the defined benefits section=
Dales
14 I'equeiic}'
£192,220
Payable on 1st April 2023.
Oneo
£170.000 pa Pay2ble from 1st April 2￿24 to 315t Marcb 2031 inclusive. This will
be increased by 20/D each year.
Annually
In addition, the Company bas granted an uDcapped charge to the TTUSte¢ of the Fund, over the freehold property at
Gulson Roa¢ CoveDty included in the Balance Sheet at 31. March 2025 at £1.2m (see no* 8 page 22). It should be
noted that the defmed benefit scheme wag closed to all future accruals during 2010.
25

MIDLAND C.ROUP TRAINING SF.RVICES LIMITED
NOTES ON FINANCIAL STATEMENTS
31 March 2025
13 Movemetkt In
Incoming
resources
and g*ins
R￿UrceS
expended
and loyses
Gift Aid
31 M&rch
2025
2024
Restricted fi]n(Ls
- 24+ Loan Fund
- Employer Incentives
- LEP Fwlding
2,000
3,500
259,209
2.000
9,500
210.525
77.0(X)
(71,000)
(48,684)
Unrestricted funds
Non-chtirit2ble trading funds
3,529,921
286,825
3,381,074
1248,779
(3.403,546)
11,034,943}
286,825
(286.825}
3.794,274
213,836
4,081,455
4,706,853
(4,558,173)
4,230,135
24+ Advanced Learning L<)an
"Ihese are fimds made available to be loaned io eligible leantrs. These loans will help learners aged 24 or above pay thc
fees charged by colleges and training providers Cor courses at Ixvel 3 and L¢v¢l 4. or Advanced and Higher
Apprenticeships.
Employer IneeD¢ives
The Education and Skills Trknnding Agency ha8 made a number of incentive payments available Lo employers tsking on
an apprentice aged 16-18. Th￿¢ incentives payments are paid to the training provider at set ￿1n¢& durfftng tbe training
and must be paid to the employer.
LEP Funding
MGTS has invested in a new Advanced Engineering and Manufaeturing Centre in Redditch, Worcestershire. Our
£875.000 iTrve3trnenl was matched by funding of £700,000 from the Worce5ter5bire and Binningh&n Local Enterprise
Partnerships. The funding will be released over the life of the &8sets.
26

MIDLAND GROUP TRAINING SERVICES LIMrrED
NOTES ON vif4ANCIAL STATEMENTS
3] March 202S
14
Iysb of net assets betwetn funds
Nonvrh4ritable
trnding
rund5
Unrestricted
Restricted
Total
Intangible f￿ed assets
Tangible fLxed &8sets
Currenl assets
liabiltties
Long tem) liabilitie8
1,666,036
2,685,941
842,981
{503,570)
(897,114)
1,666.036
2,896.466
1,513,079
(948,332)
(897,114)
210,525
11,500
658,598
14L14,762)
3,794274
213.836
222.W25
4230,135
15 Operlting lease ¢ommitmMts
The following opernting lease payments are colninitted to be paid..
2025
2024
Within ox¢ year
Between two and five years
In more than five years
110,430
397,243
366,325
108.062
388267
446,917
873,998
943,246
16 Capltsl Commltmtnts
Th¢ Charitabk ¢ompany had capital commiknents of £65,809 at the year-end12024 £nil).
17 Rellted Party T￿n￿¢tIOnS
There were no related FQtty 1ransa¢tion$ during the year (2024 £ntl).
27