Charlty numbar: 528788 IN-COMM TRAINING & MANUFACTURING GROUP UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 IN4OMM TRAINING & MANUFACTURING GROUP CONTENTS Page Referenee and adminlstratlve detalls of the Charlty. Its Trustees and advisers Trustees. raport Independent examlner's raport Statement of fSnanclal actlvltles Balanc8 sheet Notes to the financial stalements 8-14 IN-COMPJi TRAINING & MANUFACTURING GROUP REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustees Neil Lloyd. Joint Chairman Colln Mllls, S8crelary Brian Davies. Joint Chaiman (Deceased 22 November 20231 Gareth Jones Charlty registered number 528788 Princlpal offlce Vigo Place Aldridge Wesl Midlands B74 3LS Accountants Crowe U.K. LLP Chartered Accountants Black Country House Rounds Green Road Oldbury Wesl Mldlands B69 2DG Bankers HSBC Bank PIC PO Box 68 130 New Street Birmingham B2 4JU Virgin Money PIC Jubilee House Gosforth Newcastle NE3 4PL Pag8 1 IN-COMM TRAINING & MANUFACTURING GROUP TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 Trustses The Trustges narned havè seNed throughout the year unless othe￿¢S6 staled. Appointment of Trust88s is governÉd by the Conslilutlon. Goverhance The Management Commilltse Is the governing body of the Group and Gonslsts of one rapresenlalive ol Oach member firm. Th8 Executive Commilloe is appoinl6d by the Management Committee to deal wilh the day to day running of Ihe Group. This consists of the Trustees., N Lloyd, G Jones. C Mills, the Treasurer R Philips, and R Evans. J Worthlnglon, P Hodgetls. I Sobotewska. During the Year tha following member represenlalives jolned the Executive Commillee.. A.Ha1￿1, C. Umney The Board exist lo approve policies, new strategic dir@clions, changes proposed from the group and new ini1181ives. Host regular meetings with the technical partners and elactèd board members. Investmont Powers Under the Constilulion. property vested in the Trusloes on behalf of th8 Group, may be dealt with as the Committee shall from time to lime by resolution direct. Constitutlon, Objécts and Pollcles The Group is governed by ils Conslitulion. The mission of the Group Is- To be a world class Midlands training support network for manufacturing and enginaering compani98 wllh a hyper local approach lo supporting growth through training and upskllllng. In order lo achi8ve Ils mission, the Group has the following Aims and Oblectives contained in tha Conslilulion. To advance the theoretical and pracllcal educallon and training of persons engaged, or inlendlng lo be ongaged, in the englneering Industry and other fields, Subjecl lo the forgoing objectives. lo extend the benefit of the education21 and Iraining facillll8s of the Group lo members of thè public. To observe best practice in the conduct Df the Group. To do such other things as thè Management Commlttee shall ¢onsider necessary or conducive lo the carrying out of the objectives. Development, Activitiès and Achlevgments Slafting support conllnues to bg provided and maintalned by our proactive partner In-comm Trttlnlng and Business ServSces. The partnership delivers robust training and development advlce giving members access lo the Information and skills required to give them the all-importanl competitive edge. Membership rates are kept lo minimum and represent real valu8 for money and truly support Ihe SME in achièving il growth and suslainabilily though their skills base. The purpose of TMG shifted over the years due to the change in economSc landscap6, macro and MSCTO environmental chang&s. Page 2 IN-COMM TRAINING & MANUFACTURING GROUP TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Servlces Currently TMG delivers Ihe following seNices tD ils members.. Regular content and Inlormallon from th8 Tèchnical Partners Th8 chance to attend the informative dinners ran by Technical Partners Full free legal review of your business Dlscounl on In-comm Courses Access lo grants and funding opportunities Support with Apprentice recruilmenl and skills matching Seminar programme tailored lo member interest Access lo worfd class technologies. Technical partner8 Technical Parlners consist of FBCMB and In-comm . We have a desi￿ to increase this number. Technical Partnars should deliver value, facilitsle ev8nts and be an active participant in organisational developrnenl. initiallng change and steering the TMG in the dlrection of future growth of membership and our community. Technlcal Partner beneffts and opportunilles- Promotional Information on all TMG marketing material Host a b8spoke evonl al your premises Host a bespoke dlnner on the tOPlC 81igned lo your expertise Exhibition 2nd Seminars - attend a stand and showcase own materials and technology. Boost your profile and showcase the business as a market leader In your field of expertise lo the audience of over 500 manufaclurSng and engineeri￿ companies Newsletter inclusions First refusal opportunity for sponsorships of the events. Ability to promot8 the TMG ne￿rk to their own customer base with maitshols, brochures and other collateral. Publlc Beneflt The Trustees confirrn that they have paid du8 règard lo the guidance given by the Charity Commi881on on public benefit. Financial Review and Reserves Totsl income in the year was '. £32.68512023 £19,647) being 5ubsGriplions for general members £15.83612023 £ 19,5031 . Stem Engagernenl income £16,65012023 £Nil}, bank interest of £19912023 £1441. Exp8ndilure for Ihe year was £28,57712023 £5,520). Th8 net movement in Unreslricled fLEnds was £3,778 (2023 £ 14.1271 and nel movem8nt in restricted funds was £33012023 £NIII. Totsl reseTVeS were £69,929 al 30 Jun8 202412023 £65,821) The policy of the Group on Reserves is to maintain al least 2 ygars Iraininy Gosts in reseDJe. Policy on inveslmenls 1s lo keep surplus monies on secure. inleresl bearing 8c¢ounls. Page 3 INQOMM TRAINING & MANUFACTURING GROUP TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 ststement of Trustee's responslbllltles The Trusle8s ar8 responslble for preparing th6 Trustees, report Bnd the financlal slalements in 8ecordsn¢e with applicablg law and United Kingdom Accountlng Standards (United Klngdom Generally A¢cepted Acuunling Practicè), The law applicable lo tharttles in England & Wal88 requlres the Truslees lo prepare financi81 statem8nls for each financial year which give a true and falr vl8w of the stale of aff8irs of the Charity and of Ils incoming resour¢es and application of resDurcos, including ils income and 8XP8ndilure. for that period. In preparing these financial statements, the Trustees are required lo= select suitable accounting policies and then apply them Consistent￿,. observe the methods and priiiciples DI the Chartties SORP IFRS 1021- make judgments and accounting estimales that are ￿asOnable and prudenl- stal¢ whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject lo any matèrial departures disclosed and exp￿Ined in the financial slalemenls- prepare the financlal statemènts on the going concgrn basis unless il Is Inapprop￿al8 to presume Ihal tho Charity will continue In business. The Trustees are responsibl8 for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Charity and enable them lo ensure that the financial slalem&nls comply wlh the Charities Act 2011, the Charity (Accounts and Reporlsl Regulations 2008 and the provisions of the Conslilulion. They are also responsible for safeguarding the assets of the Charlty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by ord of the members Df thè board of Tr4Jslees and slgned on Ihelr behalf by.. Nell Lloyd Trustee Dale.. 23 111&24 Page 4 INCOMM TRAINING & MANUFACTURING GROUP INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024 Independent Examlner's RepDrt to the Trustaes of In.Comm Tralnlng & Manufacturlng Group I'thé Charity'l I report lo the charity Trustees on my examlnallon of th8 Se￿unts of the Charlty for the year ended 30 June 2024. Responsibilities and Basls of Report As the Trustees of the Charity you are responsiblts for tha preparation of the accounts in accordance with the requlrem8nls of the Chari118s Act 2D111'lhe 2011 Act'l. I report in respect of my 8x8minalion of the CharitJls accounts carrled out under Section 145 of Ihe 2011 Act and In carylng out my examination I have followed th& applicable Directions given by the Charity Commlssion Under sectlon 145(5)Ibl of the 2011 Act. Independent Examlnevs Statement Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charilies.. Statement of Recomrllended Piaclice applicable lo charities preparing their accounts in accordance with th@ Fin8nGial Reporlihg Star)daTd applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities-. Statement of Recommended Praclice issued on 1 April 2005 which is referred to in the extant regulallons bul has been wthdrawn. l understand thal this has been done in order for the accounts to provide a true and fair Mew in accordanco wSlh Ihe Generally Accepted Accounting Practice effective for reporting periods beginning on or after f January 2015. I have completed my examination. I confilm that no mallers have come to my attention In conn8Ction with the examinallon giving me cause to believe that any material respect". accountlng records wèré not kept in respect of the Charity as requlred by seclion 130 of the 2011 Act., or the accounts do not accord with those records; or th8 accounts do not comply with the appllcabla r8quirBm8nts conceming the form and content or accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requlrement that the accounts give a 'lrue and fair. view which is not a maller considered Js part of an independent examination. I have no concerns and have come across no other matters In conntsclion with the examination to which attention should be drawn in this report in older lo enable a proper understanding of the accounts to be reached. This report Is made solely lo the Charfltys Tru8letrs, as 8 body. in accordance wlh Part 4 of tha Charllies {Accounls and Reports) Regulalions 2008. My work has be8n undertaken so that I might slate to the Charills Trustees those mallers l atll required lo stale to them in an Independenl examiner's report and for no other Purpose. To the fullest extent permilled by law, I do not accepl or assume responsibllily to anyone other than the CharÉly at7d the Charitls Trustees as a body, for my work or for this report. Signed.. Dated= 23 lanuary 2025 Helen Blundell LLB FCA FCIE DChA Crowe U.K. LLP Chartered Accounlanls Black Country House Rounds Green Road Oldbury Wesl Midlands B69 2DG Page 5 IN-COMM TRAINING & MANUFACTURING GROUP STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 RÈstrScted Unrèstricted funds funds 2024 2024 Total funds 2024 Tolal funds 2023 Note Income from: Donallons and legacies Charitable aclivllles Investments 16,650 16,650 15.836 199 q 5,836 199 19,503 144 Total income 16,650 16.035 32.685 t9,647 Expenditure on: Charitable activlll6s 18,320 12,257 28.577 5,520 Total expènditure 16,320 12.257 28,577 5,520 NBt movement In funds 330 3,778 4.108 14,127 Reconciliation of fund5- Total funds brought fO￿ard Nel movement in funds 65,821 3,778 65,821 4,108 51,694 14, 127 330 Total funds carriad forward 330 69,599 69,929 65,821 The Statement of Financlal Activities includes 811 g81ns and losses reoognised in the year. The notes on pages 8 10 14 form part of these financial statements. Page 6 IN-COMM TRAINING & MANUFACTURING GROUP BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Note Current assets Debtors Cash al bank and in hand 11,654 67,509 142 74,751 79,163 74,893 Creditors.. amounts falling due within one year {9,2341 fg,072) Net current assets 69,929 65,821 Total net assets 69,929 65,821 Charity funds Restricted funds 330 Llnrèstriel8d funds 69,599 65,821 Total funds 69,929 65,821 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by. Neil Lloyd Trustee Dalè.. 23 11/&2£ The notes on pages 8 10 14 form part of Ihese financlal ststements. Page 7 IN.COMM TRAINING & MANUFACTURING GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 General informatlon In-comm Training & Manufacturing Group is 8 charily in England 2nd Wales whose T8gislered Offi￿ is 12 Vigo Place, WS9 8UG. The charitls registered number is 528788. Thè members of th8 charity ale the Iruslees named on page 1. Accountlng policies 2.1 Basis of preparatSon of flnanclal statements The linancial slalemenls have been prepared In 8ccordance wth the Charities SORP IFRS 1021 Accounting and Rèporting by Charities: Statement of Recommend&d Practice applicable lo charities preparing their aGGounls in accordance with the Financi81 Rèporting Standard applicable in Iho UK and Rèpublic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard appllcable in the UK and Republic ol Iraland IFRS 1021 and the Charities Acl 2011. The financial slalem8nls hav8 been prepared lo give 8 'true and falrf view and have departed from th& Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fairf view. This departure has involved following the Chartlies SORP IFRS 1021 published in October 2019 rather than the AcGounling and Reporting by Charities.. Stslemenl of Recommended Practice effective from l April 2005 which has since been withdrawn. In-comm Training & Manufacturing Group meets the definition of a public benefit enlily under FRS 102. Assets and li8bililies are initially recognised at histc>rical eosl or transaction value unless olhenKisè stat8d in thè rélèvant acco¥Jnling policy. 2.2 Income All Incom8 is rÈcogni$8d once the Charity has enlilbmenl lo the income. il is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Slalemenl of financral activitie5 on a re￿1vable basis. The balance of income received for specific purposes bul not expended durlng the period is shown in the relevant funds on the Balance sheet. Where income is received in advance ol enlillemenl of receipt, ils recognition is deferred and included in creditors as deferred incomé. Where enlillemenl occurs before income is recoived, the income is accrued. Subscription income is ¥ecognised in th£ perfod Sn which il is receivable and lo the extent the goods have been provided or on completion of the service. 2.3 Expendlture Expenditure is recognised once there Is a legal or consI￿CtIVe obligation lo transfer economic benefit to a third paty, il is probable that a Ifansfer of economi¢ benefits will be required in selllement and the amounl of the obligation can be measured reliabty. Expendilvre is classrfied by activity. The costs of Èsch 8clivity are made up of the totsl of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs 3llribulable lo a single aclivlly are allocated directly lo Ih2t aclivily. Shared cosis which ¢onlribule lo more than one activity and support costs which are not allributable lo a single activity are 3PPDrtioned betwéen those activities on a basis consislenl wlth th8 of rèsour¢es. ExpenditLJre on chariiabla activities is incurred on directly undertaking tha activities whkh further the char51￿s obleclives, as well as any assoolaled support Costs. Page 8 IN-COMM TRAINING & MANUFACTURING GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Ac￿UntIng pollcles Icontlnuedl 2.3 Expendllure Icontinuedl All expendilLtre is indusive of i￿eCoVer8bIè VAT. 2.4 CJ$h at bank and in hand Cash al bank and in hand includes cash and short-lerm highly Ilquid inveslments with a 8hort malurily of three months or1ess from the dale of acquisitlon or opening of the deposit or similar account. 2.5 Llabllltles and provlslons Llabi11116s are recognised when thère is an obligation al the Balance sheet dale as a result of a past event. il Is probabl8 that a transfer of economic benetit will be raquired in selllem8nt. and the amount of the selllemenl can be eslimaled reliably. Liabilities are recognised al the amount that the Charfly anlicipales il Mqll pay to settle the debt or the amount it has received as advanced payFnents for the goods or gervices it musl provSde. 2.6 Fund a¢counting General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general obleclives of the Chaiily and which have not been designated lor olh8r uiposes. R&slricled funds arB funds which are lo b8 used in aCC￿danCe with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. ThE Gosls of raising 8nd administèring such funds are charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes lo the financial slalemenls. Inveslment income, gains and losses are allocated lo the appropriate fund. Income from donations and legaclos Restricted funds 2024 Total funds 2024 Total funds 2023 Grants 16,650 16,650 Page IN