Company registration number 02326382 IEngland and Wales) Charlty roglstratlon number 801260 (England and Walès) MTC LEARNING ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 MTC LEARNING LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr L Mccalman Ms H Mccafferty Mr M N8É8m Mr T Wheeler Country of incorporatlon United Kingdom (England and Wales) 02326382 Charlty registration England and Wales 801260 Regl$t¥r&d office Alison House, First Floor 638 High Road Leylonslone England E11 3DA Audltor MUS Accountants Limited Office 146, Regus Building 268 Bath Road Slough SL14DX MTC LEARNING CONTENTS Page Trustees Teport llldependenl auditor's report Stslemenl of finandal a¢tivities 10 Balan￿ she81 11 Statement of cash flows 12 Notes lo the finan￿al slalemenls 13-20 MTC LEARNING TRUSTEES REPORT {INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 JUL Y2025 Th& Iruslees present their annual rèport and fjnancial slalemenls for the year ended 31 Juty 2025. The financial slalemenls have been prepared in accordance wllh the accounting policies sel out in note 1 to the financial statements and comply with the charity's governing docurnfynl, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Rèporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with th& Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 1021 ObJ&ctlvès and activities In setting ils objectives and aims, the Trustees have given careful consideration lo the Charity Commission's guidance on public benefit. MTC Learning's mission is lo support, educale and empower individuals by providing accessible education, training and progression opportunities In 8 safe. inclusive and communily-focused environment. The Charity is commilled to providing. promoting and 88slsling in the provision of education, vocation81 training, employability support and wider learning opportunities for all membgrs of the comrnunily. including migrants, ￿fUgeeS and their families. Signlfi¢ant actlvlties: During the year, MTC Learning continued lo deliver and arrange suitable academic, vocational and community- based training programmes to meet the needs of diverse learners across local comTllunilies. This included support for adults seeking lo improve their English, maths, digital, employability and vocational skills, as well as opportunities for migrant and relLJgee communities lo access education and progress towards employment or further learning. The Ghaiily renéwed its contracts with educational e51ablishments, and all incoming resources from tiainlng 8¢tiMties during the year wer8 derived from these conlraclual arrangements. Public benefit The Iruslees have paid due regard lo guidance issued by the Charity Cotnmlsslon In de¢iding what activities the charity should undertake. MTC Learning delivers public benefit by supportlng Indlviduals and communities who may otherwise be excluded from education, employment and wider social participation. The charity's impact includes.. helping migr8nls, refugees and asylum s@ek8rs improve English language 8ki118 and Integrate more confidently into life in London.. supporting unemployed and e¢onomically inactive adults lo develop eTnployabS1ily 8nd digital sk'lls.. enabling women and mothers lo overcom& barriers linked to conf￿enCe, caring responsibililles, so¢lal isolation and access lo work.. creating pathways into further educalion. vocational training, volunteering and paid employment,. slrenglhening community cohesion by hèlping 188rners from diverse backgrounds participalts morg fully in society., conlfibulino to London's wider skills. inclusion and employability agenda. MTC Learning's contribution is therefore not only educational. 11 supports dignity, confiden¢a, Independanca. family resilience, social mobility and comrnunily cohesion. MTC Learning's work helps turn education into practical life outcomes.. beller corntnunicalion. greater confidence, accèss to work. stronger families and more connected communilies. MTC LEARNING TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2025 Achl8v&ments and ￿rforManCe Significant activities and aehievemenls against objeclives The Iruslees are pleased with the achievamenls of the eharil8bl6 8etivilies lo date. During the year, MTC Learning continued to deliver ils charitable objectiv85 while tn8inlaining ils long-$18ndlng focus on 16amers who faee thè greatest barriers lo opportunity. The charity continued to provide aecassible learning opportunities for migrant and refugee communities, including those with English-language needs. This remains central lo the charity's purpose and reflects ils long-standing commilmenl to inclusion. integralion and community participation. MTC Learning also continued to support learners with the practical skills needed lo progress towards work. This included employability guidance, job-readiness support, workplace communication, digital skills and confidence- building activities. The trustees recognise that demand for adult learning, ESOL, vocational Iiaining, digital skllls and employment support rtrmalns signifi¢8nt across London. Cosl-of-living pressures. unemployment, language barriers and social isolation continue to affect many 1&8rners and families. MTC Learning's communily-based model is well placed lo respond to this need. Thè charity's work creates a wider social benefit by helping learners move frotn isolation to partlcipalion, from low confidence lo a$piialion. and from barriers lo opportunity. This impact extends beyond individual leainers to their farnilies, etnployers, communllles and wider society. Charitable activities The Iruslegs are pleased with the achievements of the charitable activities lo dale bul would Ilke lo expand Iralning opportuni1185 where possiblè beyond those currently in place, in order lo support increasing demalld and reach more learners. The charity's future ambition is lo deepen Its impact by expanding access to English language learning, employability support. digital inclusion and vocational pathways. Addition81 funding would allow MTC Learning to serve more learners. improve progression outcomes and 5118nglhen its role as a trusted ¢ommunlly aducalion provideT. Int&rnal and external factors The Irusle&s have made a full assessment of the inlemal and external factors that may affect these ffnancial slalemenls and do not déem any factors material enough lo have an irnpacl. The trustees recognise, howevei, that the wider environment for adult learning and communily-based education rÉmains challenging. Learner needs ar8 increasing, while public and charitable funding can fluctuate. Many learners continue to face barriers linked lo lallguage, confiden¢e, ¢aring responsibilities, Ljnemploymenl, digital exclLJsion and access lo opportunity. MTC Learning continues lo m8nage these risks through careful financial planning, responsible reserves managemenl. partnership development and a continued focus on programmes that deliver clear public benefit. MTC LEARNING TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED} FOR THE YEAR ENDED 31 JULY 2025 Financial r•vlèw The Iruslees consider the financial position of the charily to be satisfactory and sufficient to support the ¢onUnualion of current activities in the medium term. The charity's income inuèased during the ygar. reflecting continued demand for training services and renewed aelivity with educational establishments. Expenditure remained focused on charilable activities 8nd the delivery of education, training and leain¢r support. The trustees view financial stability as a means lo piolecl 8nd expand charitable impact, rather than as an end In itself. The charity's reserves allow il lo maintain conlinuily of services, meet staff and premises cornrnilmenls, manage funding uncertainly and invest responsibly in future community programmes. The Iruslee5 recognise Ihal continued investment is required to expand servi¢es, improve digital capability, strengthen programme delivery and allract additional funding. The charily will therefore continue lo seek 5UPPOrt from funders. education partners. public bodies, employers and community stakeholders who share its commitment lo inclusion. skills and social mobilily. Resew6s policy 1115 the policy of the charity that unrestricted funds which have not been designated for a sperAfic us@ should be maintained al a level equivalent lo the annual expenditure ol the charity. The Iruslees consider that reservès at this level will ensure that, in Ihe event of a significant diop In ftjnding, they will be able lo continue the chaiily'$ ￿rrent aclivilies while ¢J)nsideration is given lo ways in which addlllonal funds may be raised. The charily needs these ready funds lo commence new courses and also to meet the finari¢i81 commitrnenls under property rental agreements and contracts of èmployment. The IIu51ees consider that the level of reserve funds reduces risk to the stakeholders of the charity golng forward. The charily considers that the present level of funding is adequate to support the conlinualion of training courses In operation for the medium term and lo allow for fluclualion In public funding of adult learning and community educallon. The Iruslees thèrèfore consider the overall financial posillon of the charity lo be salisfaetory. The level of rèseNes has been mainiained throughout the year. The board of Iruslees has examined the lèvel of reserve5 iequired by the charity in view of the main risk8 lo the organlsation. In the Iluslees. view, the reserves provide the charity with adequate financial stability and the means for il lo meet ils charitable objectives for the foreseeable future and to invest in the long-term viability and development of the charity. The free reserve5 have been designated as follows.. 1. Working Capital unr&stricled reserves.. £460.000 2. Legal Fees.. £30.000 3. Business development and fundraislng consultancy.. £100,000 4. IT and Communication Raserve.. £60.IJOO Designatsd Total: £650,000 These designations are intended lo prolecl (he charity's existing operations whlle enabling targeted investment in future growth, lundar engagement, digital infraslrucluie and organisalional iesilien¢8. MTC LEARNING TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2025 Plans for futurè p•rlods MTC Learning considers that il is well placed lo me&1 the ¢onlinuing demand for training opportunities and ¢ommunily-b8sed learning support. The trustees intend lo focu8 on the following priorities-. Expanding English language and functional skllls provision lo support migranls. refugees. asylum seekeis and adults with English-language needs. 5. Strengthening employ8bilily pathways so thal learners can piogress into further education, volunleedng, work placements and paid employment. 6. Supporting women and parents who face barriers linked lo caring responsibilities. low confidence, isolation and lirniled access to employment. 7. Developing vocalional Iiaining roultss in areas where learners can gain practical skills and progress tOW8rds sustainable employment. Improving digital inclu51on $0 that learners can access online learning, employment appli¢alions. publi¢ services and Workpla￿ opportulliliès. 9. Slrenglhening partnerships with education provldgrs, funders, employers and comrnunily organisalions. 10. Improving impact measurèmonl so that the charily can beller eviden￿ leamer progression. qualifications, employment outcomes, improved ¢onfidence and reduced isolation. Followlng th8 year end, the charity continued lo strengthen its funding base. This improved position 5UPPOrts the charity'5 ability lo maintain and expand prograrnrne delivery, plan staffing and resouroes with greater confidence and support leamers across multiple projects. The trustees believe that new funding will allow MTC Learning to scale a proven community tnodol, re8¢h more disadvantsged learners and deepen ils contribution to social mobility, inclusion. employability and cotnmunily cohesion across London. Investment in MTC Learning Is investment in people who are ready lo contribute bul nèèd the right support to progress. By helping leamers gain language skills, confidence, qualifications and employability support, the charity Crèates benefits that extend beyond the individual to families, ernployers and wider communili6s. In this way, MTC Learning turns community learning into practical social impacl, helping people move fiom isolation to partkipalion and from barriers to opportunity. Structure. governan¢t and management The charity is a company limited by guarantee and controlled by Ils governing document. the memorandum and articles of association. The Iru51eÈs, who are also the directors for the purposè of company law. and who served during the year and up lo the date of signature ol the financial slal8tnents wèrè.. Or L M¢calman Ms H Mccafferty Mr M Naeem Mr T Wheeler MTC LEARNING TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 ReGruitm8nt and appoinlm&nt of Iruslees Thérè has been an average of 4 Iruslees throughout the period. Any new appointments are al the recommendation of the board. In accordance with the articles of association, all trustees will retire al the forthcoming annual general meeting and, being eligible, will stand for re-el¢ction. Inductlon and training of new trustees All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific rield lo undèrstand the nature of the charity and fully comply with the eharitls current vièws of ils progiesslon. They are required lo ensure that they are aware ol both their legal and professional responsibilities under charity and company law. OryBnisalional slruGtur8 The truslees are responsible for the overall governan¢& 2nd strategic direction of the charity. Day-lo-day operations 8re managed by the senior leadership team. supported by staff responsible for programme delivery,1è8rner support, administration, finance and partnership devèlopment. The charity continues to maintain appropriate governan￿ arrangements (o ensure th81 resources are applled effectively in furtherance of ils charitable objectives. Statement of Trust8es respon¥ibilltles The Iruslees, who are al80 the directors of MTC LEARNING for th8 PUTpose of company law. are responsible for preparing the Truslees Report and the financial statements in accoid8nce with applicablo law and United Kingdom Accounting Standards {Uniled Kingdom GeneraSly Accepted Accounting Practi￿1. Company law requires thé truslees lo prepare financial slaltrments for each finan¢i81 year which give 8 true and fair view of the state of affairs of the charity and ol the incoming resources and application of resources, including the incorne and èxpendilure, of the eharilable company for that year. In preparing these financial slalements. Ihe trustees are required lo.. seloet suitable accounting policies and then apply them consistently; observe the methods and principles In the Charities SORP., make judgements and estimates that are reasonable and prudenl.. stale whether applicable UK Accounting Standards have been followed. Subject to any maleiial dopartures disclosed and explained in the financial slalemonts., and prepare the financial statements on the going concem basis unless h is inappropriate lo presume that th8 ch8rlly will continue in operation. The Irusleés are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable Ihem lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the charity and hence lor taking reasonable steps for the prevention and deleclion ol fraud and other iiregularities. Auditor In accordance with the company's articles. a resolution proposing that MUS Accounlanls Limlled be reappointed a8 auditor of the company will be pul al a General Meeting. MTC LEARNING TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 The port was approved by the Board of Trustees. Dr L Mcc8lm8n Trustee Mi T Wheeler Trustee 26 May 2026 MTC LEARNING INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MTC LEARNING Opinion We hava 8udited the linanryal statements of MTC LEARNING Ilhe 'ch8rily'l for the year ended 31 July 2025 whi¢h omprise the statement of financial activities, the balan￿ sheet. the 818lèment of cash fiows and notes lo the financial 51alemenls. 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 FinanGial R8porting Standard applieèble in th& UK and Republio of Ireland (United Kingdom Generally Accèpted Accounting Pra¢ticel. In our opinion, the financial st8lements'. give a true and fair view of the stale of the ¢h8ritable cornpanls 8ffairs as al 31 July 2025 and of ils incorning ie50ur¢es and application of resources, for the year then ended., havè been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practica.. and have been prepared in accordance with the requirements of Ihg Companies Act 2006. Basis for opinlon We conducted our audit in a¢cordance with International Siandards on Auditing IUKI IISAS {UKI} and applicable law. Our responsibilities undei those standards aTe further described in the Auditorts responsibililiss for the audit or Ihe financial slalfjmenls section of our repori. We are indèpendent of the chority in accordance with the ethical requirements that arè relevant lo our audit of the financi81 statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our olhei ethical responsibilities In accordance with thes8 requirements. We believe that the audit evidence we have obtained is sufficient and appropri8t8 lo provide a basis for our opinion. Conclu5ion$ r•latlng to going eoncarn In auditing the financial slalements. we havo concluded that the Trustees use of the golng concern basis r)f accounting in the preparation of the financial slalemènts is appropriate. Based on the work we have performed. we have not idontified any rnaleri81 uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to conlinuÈ as a going concem for a period 0181 least Iwelve months from when the firianaal statements are aulhorised for issu8. Our responsibilities and the rasponsibi1ilies of thg trustees with Tespe¢t to going concern are described in the r6levanl sections of this report. Othor Informatlon Thè other information comprises Ihg Information included in the annual report other than the financial statements and our audilorfs report thereon. The trustees are responsible fo¥ the other information contained wllhin the annual report. Our opinion on the financial slal8tn¢nts does not cover the other information and we do not express any form of assur8nce conclusion thereon. Our responsibility is to read the other information and. in doing 80, consider whether the other information is malerially inconsistent wilh the financial statements or our knowledge obtained in the course ol the audit, or olhetwise appears lo bo materially misslaled. If we identify such tnalerial inconsistencies or opparenl rnalerial misslalernenls, we are required lo determine whether this gives rise lo a material misstalemenl in the financial statements Ihemse5vés. If, based on the work we have perfomed, we conclude that there is a malerf81 misstalemenl of this other information. we are requlrèd to report that fa¢t. We have nothing lo report in this regaid. Matters on whlch we are r¢qulred to report by axceptlon We have nothing lo report in respect of the following mallers in relation to which the Charities {Accounls and Reports) Regulations 2008 requires us lo report lo you il. in our opinion.. the information given in the finan¢lal statements is Inconsislenl in any m81erial respect with the Trustees reptsrt., or Sufficient accounting records havg nol been kept,. or the financial stalemenls aré not in agreement with the accounting records.. or we have not received 311 the info¥malion and explanation8 we require for our audll. MTC LEARNING INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF MTC LEARNING Re3ponslbllltl•s of trustses As explained more fully in the stalernenl of Trustees responsibilities, the trustees, who are also the directors of the charity for tho PLJrpose of company law, are responsible for the pieparalion of the financial $18lemenls and for bèing satisfied that they give a true and fair view, and for SLJch internal control as the trustees delgrmine is ne￿sSary lo enable the preparation of financial statements that are free from material misstatement, whelh6r due to fraud or error. In preparing thè financial slalements, the Irusleos are responsible for assessing the charity's ability lo continue as a going concern. disclosing, as applicable, mall6rs related lo going concern and using the going concern basis of accounllng unless the Iruslees either intend lo liquidate the charitable company or to ￿ase operations, or h8ve no realistic allernalive bul lo do so. Auditorfs respon$lbllltles for the audlt of the finan¢lal statements We have been appoinled as auditor Ljnder section 144 of the Charitie5 Act 2011 and report In accordance with the Act and relevalll iegulations made or having effect Iherèunder. Our obleelives are lo oblaln reasonable assuran￿ about whtrlher the financial statements as a whole are free frorn material misstalemenl, whether due lo fraud or error. alld lo issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit ¢onducled in accordancè with ISAS {UKI will always delecl a material misSt8lement when il exists. Missiatements ran arise from fiaud or èrror and are considered material if, individually or in thé aggregate, they Could r6asonably b8 expected lo influence tho èconomic decisions of users taken on the basis of thesè financial slalemenls. Irregularities, Including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo dèlect material rni8slal¢ments in respect of irregularities, including fraud. The extent to which our proCedU￿S are capable of detecting irregu18rf1ies, including fiaud, Is detailed below. Our approach to idenllfying and asse88ing the risks of rnalerial misslalernenl in respect of iriegu18ri1ies, induding fraud and noncornpliance wilh laws and regulations. was as follows.. the engagement partnér ensured that the engagement learll collectively had the appropriate compelen¢e', capabilities and skills lo idantify or recognise non-compliance with applicable laws and regulations.. • we identified the laws and regulalions applicable to the charity through discussions with Iruslees and other management. and from our commercial knowledge and experiencè of the sector,. and we focus8d on specific laws and regulations which we considered may have a direct material effect on the financial statements or the oporations of the tharily, induding the SORP. taxation leglslation and data protection. anli-bribery. employmènt, environmental and health and safety legislation. We also consldered potential fraud drivers.. includlng financial or other pressures, opportunSly, override of controls and personal or ¢orporale moliv81ions. We considered the progiammos and controls that the charity ha8 established lo addiess risks identified, or Ihal olhetwisé prevent, deter and detect fraud. ￿ere the risk was considered to be higher, we performed audit procedures lo address each identified fraud risk. Those procedures Included testing journa15. evaluating the business rationale of signifieanl transactions outside the norm31 course of business and validating the appropriateness of internal controls and signilicanl accounting eslimalions based on our fraud risk crilerla.. We assassed the sUS￿pIlbll1lY of thè company's financial stalernenls to material misstatement, including obtaining an understanding of how fraud might oc¢ur, by.. making enquiries of management as to where they considered there was susceplib1111y to fraud. their knowledge of actual. suspected and alleged fraud., and considering the inlornal controls in place lo miligale risks of fraud and non-complian￿ with laws and regulations. To address the risk of fraud Ihrough management bias and override of controls, we.. performed analytical prO￿dUreS to identify any unusual or unexpecled relationships.. ltrsted journal gnlries lo identify unusual Iransaolions., assessed whether judgements and assumptions madè Sn determining the accounting eslimales sel out in note 2 were indicative of potential bias., and investigated the ialionale behind significant or unusual Irans8Ctions. ## ## ## ## MTC LEARNING STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOMEAND EXPENDITUREACCOUNTI FOR THE YEAR ENDED 31 JULY 2025 Unrestricted funds 202S Unrestricted funds 2024 Notes Income from: Charitable activities Investments 484,444 7,545 241.075 10.919 Total income 491,989 251.994 Expèndlture on: Chariiable activilles 424.751 423,066 Total expendlture 424.751 423,066 Nat Incomellexpenditurèl and movement In funds 67.238 {171,0721 Reconciliation of funds: Fund balances al 1 August 2024 614,621 785.692 Fund balances at 31 July 2025 681,859 614,620 The statement of financial activities indudes all gains and losses recognised in the yoar. All income and expenditure derive from continuing activities. 10- MTC LEARNING BALANCE SHEET ASAT31 JULY2025 2025 2024 Notss Current as$&ts Debtors Cash at bank and in hand 11 342,695 359.911 153,676 488,889 702,606 642,565 Crèdltors.. amounts faSllng due within one year 12 120.7471 127,9451 Nat current assets 681.859 614,620 The funds of the charlty Unrestricted funds 15 681.859 614,620 681,859 614.620 The company is entitled lo the exémplion from Ihg audit requirement contained in section 477 of the Companies Act 2006, for the year onded 31 July 2025. The direclors acknowlèdge their responsibilities for complying with the iequiremenls of the Companies Act 2006 with re5pecI to accounting records and the preparalion of financial stalemenls. Thè members hava not ¥equired thè company lo obtain an audit of ils financial slalernenls under the requiramenls of the Companies Act 2006. for the yo8r in question in accordan￿ with section 476. These financial stalernenls have been prepared in accordance wllh the provisions applicable lo companies subject to the small companies regime. The ial statements were approved by the Iruslees on May 2026 Dr L Mccalman Trustee Mr T WheeleT Trustee 11 MTC LEARNING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JUL Y 2025 2025 2024 Note Cash flows from opèratlng activltlos Cash absorbed by operations 18 1136,5241 {234,3241 Invejtlng actlvities Inveslmenl income re￿iVed 7,545 10,919 Net caBh ganèrated from Investing activitie3 7,545 10,919 Net cash LEsed in financlng activitl8s Net decrease in cash and cash equivalents 1128,9791 1223.4051 Cash 8nd cash equivalents al beginning of year 488.889 712,294 Cash and ¢a$h oquivalents at end of year 359,910 488,889 12 MTC LEARNING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2025 Accountlng policies Charlty informatlon MTC LEARNING is a prlvate company limited by guarantee incorporated in England and Wales. The registered office is Alison House. First Floor, 638 High Road. Leylonslone, E11 3DA, England. 1.1 Basls of preparation Thè financial slalemenls have been prepared in accordance with the Charity's govemSng docurnent, the Compani6s Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Gharilies SORP "Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice 8pplicable lo charities pieparing Iheir accounts in accordance with the Financial R&porting Standard applicable in the UK and Republic of Irèland IFRS 1021" The charity is a Public Benefit Enlily as defined by FRS 102. The financial slatem6nls are prepared in sleiling, which is th8 fLJnctional currency of the charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial slalemenls havè been prepared under the historical cost convention, Imodified to1nclude the revaluation of freehold properties and to include investment properties and certain financi81 instruments at fair valuel. The principal accounting policies adopl8(l are set out below. 1.2 Going con¢arn At the limè of approving the financl81 statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. ThLJS the Irusletrs continue lo adopt the golng concern basls of accounllng in prepaTing the financial st8lemenls. 1.3 Charitable funds Unreslrlcted funds ar& available for use al the discretion of the trustees In lurtherance of their charS18ble objectives. Reslricled funds are subject to spècific conditions by donors or grantors as lo how they may be used. The purposes and uses of the reslricled fLJnds are sel out in the notes to the financlal statements. Endowment funds are subject lo specAfic conditions by donors that the capital musl be mainlained by the ¢harily. 1.4 Income Income is recognised when the tharity is legally èntitled lo il after any performance condillons have been met. the arnounls can be measured Teliably, and il is probable that income will be re¢6ived. Cash donations ale r$cognised on receipt. Other donations are recognised once ihe chaiily has been notified of the don81ion, unless performanctr conditions require deferral of the arnount. Income lax recoverable In rèlation lo donations rèceived under GiftAid or deeds of covenant is recogni58d at the lime of the donation. Lègacie5 are recogni$gd on receipt or otherwise If the charity has been nolifigd of an irnpgnding dislribulion. the amount is known, and receipt is expected. If the amount is not known, the lega¢y is Irealed 8S 8 contingent asset. 13- MTC LEARNING NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Accounting pollcies (Continued) 1.5 Expèndlture Expenditure is recognised once there is a legal or conslruclive obligation to Iiansfer economic benefit to 8 third party. it is probable that a transfer of economic benefits will be required in sellletnenl, and the amount of the oblig¥lion can be measured reliably. Expenditure Is classified by aclivily. The ¢osts ol eaoh activity are made up of the total of direct ¢osts and shared costs. including support costs invo5ved in undertaking each aclivily. Direct costs altribulable lo a single activity are allocated dirgetly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity S￿ apportioned between thosè activities on a basis consislenl with the use of resources. Central staff costs ara allocaled on the basi5 of lime spent. and depreciation charges are allocated on the portion of the asset's usa. 1.6 Tangible fixèd assets Tangible fixed assets are Initially measured al cost and subsequently measured 81 cost or valuation, nel of depreclallon and any impairment losses. Deprèci8tion is recognised 50 8s lo write off the cost or valu81ion of assets less their iesldual values over Ihelr useful Iivos on the following bases.. Fixturés and filtings Compulers 20DA on Cost 33% on ¢osl The gain or loss arising on the disposal of an asset is determined as the differencè belween the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial acllvilies. 1.7 Cash and cash equivalents Cash and cash equivalenls include cash In h8nd. deposits held al call with banks, other short-lerm liquid Investments with original maturities of three months or less. and bank overdrafts. Bank overdraft8 are shown within borrowings in current liabilities. 1.8 Flnancial instruments Th8 ¢harity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instrurnenls IssLJeS' of FRS 102 to all of Sts financial inslrumenls. Financial in51iumenls are recognised In the charity's balanc8 sheet when ihe charity becomes party lo the ¢J)ntractual prows1ons of the inslrumenl. Financial assets and liabilities are offset. with the net amounts presented in thè financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a nel basis or lo rèalise the asset and settle the liability simultaneously. B8slc financial assets Basic finan¢lal assels, which include deblors and cash and bank balances, are Initially measured al transaction pricè including transaction costs and are subsequèntly carried at amortised cost uslng the effective interest method unless the arrangement conslilules a financing transaction, where the transaction is measured al the present value of the future receipts discounted al a markèt late of interest. Financlal assots classified as receivabl6 within one year are not amortised. 14 MTC LEARNING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Accounting policies (Continued) Basic finanGialllabilities Basic financial liabilities, including creditors and bank loans ar8 initially recogllised at transaction pri￿ unless the arrangement constitutes g financing Iran$8Ction, where the debt instrument is measured al the present value ol the futur& payments dis¢ounted al a market rate of interest. Financial liabilitiès classified 8$ payable wllhln one year are not amortised. Debt inslrumenls are subsequently carfled at amortised cost, using the effectlvè interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordin8ry course of operations frorn suppliers. Amounts payable aro classified as currènt liabilities il payment is due within one year or less. If not, they are presÉnted as non-current liabilitie8. Tr8de creditors ai8 reeognised initially al transaction pri￿ and subsequently measured al 8mortised cost using the effective inlergst method. Derecognition of financial Ilablllties Financial liabilities are dgrecognised when the charity's ¢onlractual obligations expire or ar8 discharged or cancelled. 1.9 Employee benefits The cost of any unused holiday entitlement Is recognised in Ihg period in which thè employee's servi￿9 are received. Terfflination benefits are recognised immediately as an expense when the charity is demonstrably commltled to leirninale the employmant of an employee or to provlde lerminalion benefits. 1.10 R&tirement bènefits Payments lo defined contribution retirement benefit scheme$ are charged as an expense as Ihay fall due. Critlcal accounting estimate8 and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements. eslim8las and assumptions about thè carrying amount of assets and liabilities that are not readily apparent from other sources. Thè estimates and associated assumptions are based on historical éxperience and other factors that are considered lo be relevant. Actual results May differ from these estimates. The èstimates and underlying assLJmptions are reviewed on an ongoing basis. Revisions 10 8¢¢0unting eslimalès are recognised in the period in which the ostimale is revis¢d where the revision affects onSy that period, or in the period of the revision and future periods where the revision affects both current and fulLJrè pariods. Income from charltable activltlès Unrestricted funds 2025 Unrestricted fundB 2024 Charitable incomè dlrect trainlng SÈrvices piovided undei contract 484,444 241,075 15- MTC LEARNING NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 In¢om• from investments Unr&strlcted Unr&strlcted funds funds 2025 2024 Interest re¢eivable 7.545 10,919 Charitable actlvltles Charitsbla Charitable Expenditure Expenditlsre Direct Direct training tralning 2025 2024 Staff costs Staffing expense Tele¢ommunicalion Llght & heat Insurance Awarding body fee Consultancy Rent Bank charges Other ch8ri1able expenditure 210.409 9.696 3,147 12,374 11,996 4,057 47 47.420 226.659 6.164 3,815 11,027 12,574 7,615 32,409 51,433 60 5.531 10.288 309,434 357,287 Share of support costs (see note 61 Share of govomance costs Isee note 61 106.231 9.086 56,698 9.081 424,751 423.066 Support costs allocated to activitie5 2025 2024 Printing, postage, slalionery and computer and other exponses Governance costs 106,231 9,086 56.898 9,081 115,317 65,779 Analysed he￿een= Charitable activities 115.317 65.779 18- MTC LEARNING NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Support costs alloeat8d to activitieB Icontlnuedl 2025 2024 Govèrnance costs comprlse: Audit fees 9,086 9,081 9.086 9,081 Net movem&nt In funds 2026 2024 The net movement Sn funds is slated aftèr chargingl{credilingl'. Fee5 Payable for the audit of the charity's financial statements 9,088 9,081 Trustees None of the Iruslees lor any person8 ¢onnecled with them) received any remuneration or benefits from the charity during the year. Employee Tho average monthly number of employèes during the year was= 2025 Numb•r 2024 Number Employment costs 2025 2024 Wages and salaries SoLy81 security costs Other pension costs 187.257 19.443 3,709 192,253 21,697 12,709 210,409 226,659 There were no employees whose annual remuneration was more than £60.QOO. Remuneration of kèy management parsonnel The remuneration of key managèment personnel is £49,400 {2023'. £49,400). 2026 2024 Aggregate compensation 49,400 49.400 17- MTC LEARNING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 10 Taxation The charity is exempl from laxalion on its acllvitles because all ils income is applied for charitable purposes. 11 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other dtrblors Prepayments and accrued incorne 68,688 268,854 5,153 11,167 137,356 5,153 342,695 153,676 12 Creditors.. amounts falling du• withln on8 y8ar 2025 2024 Not&s Other laxalion and social securlly Deferred income Other ¢rodilors A¢Gruals 2,555 9,87S 6,515 9,000 13 11,747 9,000 20,747 27,945 13 Dèferred Income 2025 2024 Other deferred income 9,875 Deferred income is included in Ihg financial statements as follows.. 2025 2024 Defer￿d income is included wllhin.. 9,875 2025 2024 Movernenls in the year.. Deferred income al 1 August 2024 Rèsources deferred in the year 9,875 19,8751 9,875 Deferred income at 31 July 2025 9,875 18- MTC LEARNING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 14 Retirement ben•ftt schemes 2025 2024 D•fln•d contrlbution s¢h•mos Charge lo profil or loss in respect of defined conlribulK7n 8chemes 3.709 12,709 The charity operates a defined conlribLJllon pension scheme for all qualifying employees. The assets of the schème are held sepaialely from those of the Charity in an independently administered fund. 15 Unrestricted funds The unrestricted furid$ of the charity comprlse the unexpended balances of donations and grants whl¢h are not subject to specific Conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out tsf unrestrided funds by the Iruslees for specific purpos8S. At 1 August 2024 Incoming resources R•sources oxpènded At 31 July 2025 General funds 614.620 491,989 1424,7511 681.858 Previous yoar: At 1 August 2023 Incomlng resources Re¥ourc6s expendèd At 31 July 2024 General funds 785,692 251.994 1423.0661 814.620 16 Operatlng lease commitments L•ssee The operating leases represent leases of offi¢e premises rental lo third parties. The leases are negollalad over terms of 5 years and ienlals are fixed for 5 years. All leases Inelude a provision for five-yearly upward rgnl reviews according to prevailing market conditions. There are no options in place for either party to exlend the lease leTms. Al the reporting end dale the charity had oulslanding cornrnilmenls for future rninimum lease payments undgr non-cance11able operating leasos, which fall due as follows.. 2025 2024 Within one year Between two and five years 35.000 70,000 35.000 105.OLKI 105,000 140.000 17 Related party transactions Thère were no dlsclosable Telaled party transactions during the year12024- none). 19- MTC LEARNING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 18 Cash ab¥orbed by operations 2025 2024 Surpluslldeficill for the year 67.238 1171,0721 Adjv8tm8nts for: Investment income recognised in statement of financial aclivhlos 17.5451 110,919) Movements In working capital: Ilncreasel in debtors Increase in credi101s IDecreasellincre8se in deferred income 1189,0191 2.677 {9,8751 170.9541 8,746 9,875 Cash ab$orbed by operatlon$ 1136.524) 1234,3241 19 Analysis of ¢hanges in net funds The chaiity had no material debt during the year. 20-