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← Coalisland Training Services Limited

2025-03-31-accounts

Charity Registration Number: NIC100770 DETI / IPS Number: IP000271

CTS Ltd

Trustees’ Report and Financial Statements For the Year Ended 31 March 2025

CTS) Coalisland Ss TrainingSUCCESSFULLY ServicesTRAINING SINCE LtdF582

Sx CHARTERED ACCOUNTANTS

CTS Ltd

CONTENTS For the Year Ended 31 March 2025

Pages
Company Information 3
Trustee’s Report 4-8
Report Independent Auditors 9-10
Statement of Financial Activities 11
Statement of Financial Position 12
NotestotheFinancialStatements 13-20

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CTS Ltd

COMPANY INFORMATION For the Year Ended 31 March 2025

Board of Trustees R Wilkins (Directors) L Quinn P O'Hanlon

Committee Members V Cullen P McGirr L Quinn (Chairman) S Walker (Secretary) L McGurk B Duffy Charity Number: NIC100770 REGISTERED OFFICE: 51 Dungannon Road Coalisland Co. Tyrone BT71 4HP AUDITORS: SCC Chartered Accountants Ltd 17 College Street Armagh Co. Armagh BT61 9BT BANKERS: Santander 47 William Street Cookstown Co. Tyrone BT80 8AX SOLICITORS: Francis Madden Esq 14 The Square Coalisland Co. Tyrone BT71 4LN

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CTS Ltd

TRUSTEES’ REPORT (Incorporating the Director’s report) For the Year Ended 31 March 2025

The reference and administration details of the charitable company are as shown on page 3.

The Trustees (in their capacity as Trustees and Committee of Management) present their report and the Financial Statements for the year ended 31 March 2025. The Trustees who served during the year and up to the date of this report are set out on page 3. The Trustees have adopted provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.

Objectives and Activities

Principal Activity

The principal activity of the society is that of the advancement of education. This is met by the provision of day and night classes and also training facilities for the development of occupational skills and work experience. These activities are carried out through several different programmes including Skills for Life & Work, Training for Success, ApprenticeNI, Community Education Programme, Assist Programme, Occupational Studies, Life & Work, M2S (Moving to Success), Integrated Education Programme, Boost Programme and adult day/night classes.

Risks

The society is affected by trainee and pupil enrolments in the local area. It is also affected by the curriculum design of the colleges and the choices made by the pupils. We work with pupils from St. Joseph’s College Coalisland, St. Patrick’s College Dungannon, Holy Trinity Cookstown, Integrated College Dungannon, Cookstown High School, Drumglass College Dungannon and Sperrin view Dungannon. We also provide training to Learning Support Units and other specialist groups from our local colleges in the Dungannon area. We monitor our provision and financial position on a weekly basis and the board meets to review strategy every two months. We constantly try to acquire new contracts and avenues of training to support our aims while maintaining our core business. This year we started our third tranche of Children in Need funding which supports our very successful Boost Programme.

Achievements and Performance

We had very successful External Quality Assessments for NOCN (Construction). We welcomed additional tutors onboard, Niall McKeown (Numeracy) and Sharon Kelly (Childcare). The pupils of Sperrin view returned for a second year with positive feedback from the pupils who enjoyed the practical experience. Our new Website is up and running although it needs fine tuning as we test it out. This new website allows us to take bookings and payments online. We continue to digitize all our certificates and CSR paperwork which has a positive impact on the environment.

Department for Economy

We continue to run the ApprenticeNI21 programme as well as Skills for Life & Work. The contracts for these programmes expire in August 2025 therefore we will be expecting a call for Tenders in the Spring of 2025.

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CTS Ltd

TRUSTEES’ REPORT (Incorporating the Director’s report) For the Year Ended 31 March 2025 (Continued)

Courses

We continue to offer CSR courses in the Boardroom. We also deliver Computerised Accounts (Sage), First Aid, Manual Handling, Abrasive Wheels, Food Safety, Essential Skills for adults (Communication and Numeracy) and community courses such as Art. We now deliver the NVQ 3 Diploma in Occupational Work Supervision, NVQ 4 Diploma in Construction Site Supervision. Later this year we will start NVQ 3 Diplomas in Wood Occupations and Trowel Occupations for experienced workers. The Childcare course offered privately continues to attract good numbers.

Vocational Education Programme (V.E.P.)

These courses continue to run in the centre for Year 11 & 12 pupils from St. Joseph’s and Dungannon Integrated College. The pupils are offered training in Bricklaying, Hairdressing, Manicure, Joinery, Electrical, Electronics, Plumbing and Facial leading to two GCSEs.

Life & Work

This group were unable to use us this year due to staff numbers.

Inclusion in Education

This programme funded by CNR through Department for Communities and Education Authority continues to run offering practical skills in a non-exam environment to more than 20 pupils.

Coalisland Neighbourhood Renewal

The Community Education Programme (CEP) is funded by Department for Communities (DFC). The programme targets unemployed or those at risk of losing employment and gives them training to make them more attractive to local companies. It also has a social aspect and to this end we run courses for those who need help/encouragement to get out and be more active in the community again. It is pleasing to note that all targets were met throughout the year including recruiting 100% from the CNR area. Local residents achieved various qualifications throughout the year including CSR, Communication Skills, Numeracy and Accounts.

Construction Skills Training

We continue to deliver this much sought-after qualification. We also offer the 4-day Site Safety Supervisor course as well as Manual Handling, Abrasive Wheels, Working at Heights, Confined Spaces Awareness and Asbestos Awareness. We are thinking of offering Level 4 Diploma in Construction Supervisory Management. We now offer the fast track NVQ course for workers wanting to receive a Craft CSR card.

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CTS Ltd TRUSTEES’ REPORT (Incorporating the Director’s report) For the Year Ended 31 March 2025 (Continued)

Financial Review

Financial Performance

The Directors are striving to secure reserves in the future sufficient to meet committed expenditure and running costs for a period equivalent to 9 months expenditure, which equates to £490,697. The Directors believe that the period of 9 months is necessary so that that there is continuity of service and will continue to work towards and implement this policy. At present the total of restricted and unrestricted reserves, which amount to £1,037,147, meet this target level. However, the Directors are conscious that our premises are over 100 years old and we need to consider renovation or a new build if we are to continue to be able to meet our aims. Our sister company were hit with a massive construction build after storm “Eowyn”. It should also be noted that the charity presently uses our own funds to supplement several programmes and keep them viable. The policy relating to reserves is reviewed annually.

Restricted Income

The Charity received a grant from Children in Need in the year of £31,075 which is to be used for wages, activities and management of the Boost Programme.

Reserves Policy

Free reserves are those unrestricted reserves not invested in fixed assets, which are available for general use. The Charity's policy is to retain a level of free reserves which matches the needs of the company, both at the current time and in the foreseeable future.

Plans for future periods

The Board of Directors will continue to plan for the delivery of consistent high quality standards in relation to achieving the objectives as detailed above. Collectively they will ensure that those charged with governance or management of the Company will be made aware of their responsibilities. The Charity will demonstrate that it is using its resources to deliver charitable activity and therefore public benefit in the best possible way in these uncertain economic times. Resources will be managed in a cost effective manner. Expenditure will be strictly monitored and controlled without compromising quality of service. Management structures will be kept under review and monitored to ensure that good governance prevails and exposure of the charity to risk is minimised. We are now in discussion with planners and the Trust regarding building a new full Daycare provision. This is something that would not only give parents top quality childcare but would also provide additional jobs in the area. We would hope to incorporate a training end to the new build which would be fit for purpose as we move forward towards 50 years of working in the Community.

Structure, Governance and Management

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The Company is governed by the rules of CTS Ltd and is recognised as a charity. Committee members are appointed or re-appointed at the Annual General Meeting, which must take place within three calendar months after the close of the financial year. One third of committee members must retire from office at the annual general meeting with those who have been longest in office offering themselves for retirement. The committee must consist of a Chairman, a Treasurer and a Secretary. The committee's meetings are held on a bi-monthly basis. The committee members agree the broad strategy and areas of activity. The day-to-day operation of the company is handled by the Page 6 of 20

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CTS Ltd

Chief Executive, Manager and staff. TRUSTEES’ REPORT (Incorporating the Director’s report) For the Year Ended 31 March 2025 (Continued)

Public Benefit

The committee believes that a charitable company provides a public benefit by providing training services for the acquisition and development of occupational skills and work experience to advance education and provide and maintain employment, especially for young people. In particular, the charitable company provides courses and programmes, aimed at getting people off the unemployment register. We have successfully registered with the Charity Commission for Northern Ireland and been entered onto the register of charities with our unique Northern Ireland charity number (NIC100770). The committee believes that it is operating entirely within those guidelines as set out by the Commission and HMRC.

Health & Safety

The society is committed to achieving the highest practical standards in Health & Safety. We endeavour to make all offices and sections safe for employees and trainees alike. We have purchased a new modular building which will be used for training and community groups. It will also be environmentally friendly as we will not have to heat the main building.

Statement of Trustees’ Responsibilities

The Trustees (who are also directors of CTS Ltd for the purpose of company law) are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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CTS Ltd

TRUSTEES’ REPORT (Incorporating the Director’s report) For the Year Ended 31 March 2025 (Continued)

Auditors

SCC Chartered Accountants were appointed auditors to the charitable company and are deemed to be reappointed in accordance with the Companies Act 2006 and the Charities Act (Northern Ireland) 2008.

Small company provisions

This report was approved by the Board of Trustees on 24 June 2025 and signed on its behalf by:

Sam Walker, Secretary

Registered office:

51 Dungannon Road Coalisland Dungannon Co. Tyrone BT71 4HP

Charity Registration Number: NIC100770

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CTS Ltd

Independent Auditor’s report to the members of CTS Ltd for the year ended 31 March 2025

We have audited the financial statements of CTS Ltd for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, and the related notes. These financial statements have been prepared under the accounting policies set out therein.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the members, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of the trustees and auditors

The trustees' (who are also directors for the purposes of company law) responsibilities for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) are set out in the Statement of Trustees' Responsibilities. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors.

Scope of the audit of the financial statements

We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 2006 and the Charities Act (Northern Ireland) 2008 and whether the information given in the Trustees' Annual Report is not consistent with the financial statements. We also report to you if, in our opinion, the charitable company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding trustees' remuneration and other transactions is not disclosed.

We read other information contained in the Annual Report, and consider whether it is consistent with the audited financial statements. This other information comprises only the Trustees' Annual Report. We consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to any other information.

Opinion

We have audited the financial statements of CTS Ltd for the year ended 31 March 2025 and, in our opinion, the financial statements:

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CTS Ltd

Independent Auditor's report to the members of CTS Ltd for the year ended 31 March 2025 (Continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act (Northern Ireland) 2008 require us to report to you if, in our opinion:

Sean Gerard Cavanagh (Senior Statutory Auditor)

for and on behalf of SCC Chartered Accountants 17 College Street

Armagh Co. Armagh BT61 9BT

Date: 24 June 2025

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CTS Ltd

Statement of Financial Activities (including and income and expenditure account) For the Year Ended 31 March 2025

Notes Restricted Restricted Unrestricted 2025 - 2024
Funds Funds Total Total
Incoming Resources ‘ £ £ £ oe
Incoming resources from generating
funds:
Voluntary Income 2 - 19,620 * 19,620 19,788
Activities for Generating Funds 3 - 618,832 618,832 402,498
Other Incoming Resources 4. = 52,599 59,299 39,264
Children In Need 31,075 - 31,075 25,550
Total Incoming Resources 31,750 697,751 728,826 486,900
Resources Expended
Purchases - 3,337 3,337 4,253
Staff Costs & Trainee 6 26,113 306,148 332,261 277,853
Allowances
Tutor & Programme Costs 8 - 197,425 197,425 175,708°
Establishment Costs - 37,086 37,086 31,197
Motor and Travelling Expenses - 7,408 7,408 8,361
Legal and Professional Fees - 548 548 828
Telephone & Subscriptions - 4,669 4,669 6,126
Other Office Expenses - 36,826 36,826 33,382
Depreciation and Impairment - 100 100 2,736
CSR Cards - 20,216 20,216 24,323
Bank Charges
'		 - 1,501 1,501 1,483
Advertising - 8,985 8,985 3,413
Audit - 3,900 3,900 3,960
Total Resources Expended 26,113 628,150 654,263 573,622
Net incoming/ (outgoing) 4,692 69,601 74,563 (86,722)
resources for the year / Net
income/(expense) for the year
Total Funds Brought Forward 14,879 947,705 962,584 1,049,306
TotalFundsCarriedForward 19,841 1,017,306 1,037,147 962,584.

The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognized gains and losses has not been prepared.

All of the above amounts are classed as continuing activities.

The notes on pages 13 to 20 form an integral part of the financial statements.

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CTS Ltd

Statement of Financial Position as at 31 March 2025

Notes 2025 2025 2024
£ £ £ £
Non-Current Assets
Property, Plant & Equipment 10 - 100
Current Assets
Receivables 11 67,718 102,849
Cash and Cash Equivalents 1,002,175 896,629
1,069,893 999,478
Payables
Amounts falling due within one 12 32,694 36,943
year ee ae teeHeel
Net Current Assets 1,037,199 962,536
Net Assets 1,037,199 962,536
Represented by:
Ordinary Share Capital 52 52
Unrestricted Funds 1,017,306 947,705
Restricted Funds 19,841 14,879
1,037,199 692,536

The financial statements were approved by the Board on 24 June 2025 and signed on their behalf by:

Sam Walker Secretary

Leo Quinn Chairman

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CTS Ltd

Notes to the Statement of Financial Statements for the Year Ended 31 March 2025

  1. Accounting policies The following accounting policies have been applied consistently in. dealing with items which are considered material in relation to the charitable entities financial statements.

1.1. Basis of accounting

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared on a going concern basis under the historical cost convention and in accordance with 'Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

1.2. Cash Flow Statement

The charitable entity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

1.3. Incoming Resources

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognized when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Grants, including grants for the purchase of fixed assets, are recognized in full in the Statement of Financial Activities in the year in which they are receivable.

1.4. Resources Expended Expenditure is recognized on an accrual basis as a

liability is incurred.

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Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

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CTS Ltd

Notes to the Statement of Financial Statements for the Year Ended 31 March 2025 (Continued)

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

The charitable entity has two types of funds for which it is responsible at the year-end:

Unrestricted Funds - Funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charitable entity. In addition, funds may be held in order to finance capital investment and working capital.

Designated Funds - Monies which has been set aside to cover costs for 9 months in the event of a significant and unforeseen future reduction in funding.

Designated Funds total 75% of the current year’s expenditure as follows:

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|||||| |---|---|---|---|---| |Designated|Funds|£| |Purchases|2,503| |Staff|Costs|&|Trainee|249,196| |Allowances| |Tutor|&|Programme|Costs|148,069| |Establishment|Costs|27,815| |Motor|and|Travelling|Expenses|5,556| |Legal|and|Professional|Fees|411| |Telephone|&|Subscriptions|3,502| |Other|Office|Expenses|27,620| |Depreciation|and|Impairment|75| |CSR|Cards|15,165| |Bank|Charges|1,123| |Advertising|6,739| |Audit|2,925|

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Total Designated Funds 490,697

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CTS Ltd

Notes to the Statement of Financial Statements for the Year Ended 31 March 2025 (Continued)

1.6. Property, Plant and Equipment and Depreciation

Plant, Property and Equipment is stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Leasehold Improvements -- - Straight line over lease Fixtures, fittings and - 25% Straight line equipment

1.7. Defined Contribution Pension Schemes Contributions to defined contribution plans are recognized as an expense in the period in which the related service is provided. Prepaid contributions are recognized as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognized in finance costs in profit or loss in the period in which it arises.

1.8. Trade and Other Receivables

1.9. Trade and Other payables

Trade and other payables are initially recognized at fair value and thereafter stated at cost.

1.10. Taxation

No current or deferred taxation arises as the company has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.

1.11. Judgements and Key Sources of Estimation Uncertainty

Unrestricted
Funds		 2025
Total		 2024
Total
£ £ £
Training for Success 19,620 19,620 19,788
19,620 16,620 19,788

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CTS Ltd

Notes to the Statement of Financial Statements for the Year Ended 31 March 2025 (Continued)

3.
Activities for Generating Funds		 3.
Activities for Generating Funds
Unrestricted 2025 2024
Funds Total Total
£ £ £E
VEP 87,422 87,422 43,932
IEP 29,450 29,450 49,952
Coalisland Neighbourhood 30,640 30,640 49,952
CSR Courses 53,270 53,270 53,834
Other Workplace Courses 366,577 366,577 164,305
Moving to Success 51,473 51,743 75,143
IFI — Personal Youth Development - - -
618,832 618,832 402,498
4.
Other Incoming Resources
Unrestricted 2025 2024
Funds Total Total
£ £ £
Misc Income 59,075 59,075 39,099
Access NI 224 224 165
59,299 59,299 39,264
5.
Net Incoming Resources for		 the Year
Unrestricted 2025 2024
Funds Total Total
£ £ £
Net incoming resources is stated after charging:
Depreciation and other amounts - 100 2,736
written off tangible fixed assets
- 100 2,736

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CTS Ltd

Notes to the Statement of Financial Statements for the Year Ended 31 March 2025 (Continued)

6.
Staff Costs, Trainee Allowances & Employee		 Benefits
Employment Costs
2025 2024
£ £
Wages and Salaries 225,755 190,745
Pension Costs 32,732 31,919
Trainee Allowances & Other Staff Costs 73,774 55,189
332,261 277 853
No employee received emoluments of more than
£60,000 (2024: Nil)
Number of Employees
The average monthly numbers of employees (including the trustees) during the year,
calculated on the basis of fill-time equivalents, was as follows:
2025 2024
Number Number
Administration Staff 8 8
7.
Trustees’ (Directors) Remuneration
No trustee’s received any remuneration in the year
(2024: Nil)
8.
Tutor & Programme Costs
2025 2024
£ £
Tutor Costs 1130,678 107,045
Programme Costs 66,747 68,661
197,425 175,707
9.
Share Capital
2025 2024
£ £
Authorised - 52 Ordinary Shares of £1 each 52 52
Alloted & Fully Paid - 20 Ordinary Shares of £1 each 20 20
Unpaid-32OrdinarySharesof£1each 32 32

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CTS Ltd

Notes to the Statement of Financial Statements for the Year Ended 31 March 2025 (Continued)

10. Plant, Property & Equipment

Employment Costs
Cost
At 1 April 2024
Additions
At 31 March 2025		 Leasehold
Improvements
£
135,876
ST
135,876		 Fixtures &
Fittings
£
229,562
229,562		 Total
£
365,438
365,438
Depreciation
At 1 April 2024 - 229,462 229,462
Charge for the year - 100 100
At 31 March 2025 - 229,562 229,562
Net Book Value ee
At 31 March 2025 135,876 - 135,876
At31March2024 135,876 100 135,976

Tangible fixed assets are made up of Leasehold Improvements and Fixtures & Fittings. Leasehold property has been fully depreciated and Fixtures & Fittings is depreciated at 25% on a straightline basis. At the 31st March 2025 the NBV of Fixtures & Fittings is £Nil (2024: £100).

The Leasehold Property is owned by Coalisland & District Development Association Ltd and rented to CTS Ltd. The agreement is set to expire on 1st November 2048.

11, Receivables
2025 2024
£ £
Trade Receivables 41,622 6,690
Other Receivables - Prepayment 16,789 22,944
Other Receivables - Other Debtors 9,307 73,216
67,718 102,850

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CTS Ltd

Notes to the Statement of Financial Statements for the Year Ended 31 March 2025 (Continued)

12. Payables: Amounts Falling due within One Year

2025 2024
£ £
Trade Payables
Other Taxes and Social Security 4,605 8,853
Accruals and Deferred Income 28,089 28,089
32,694 36,942

Within deferred income there is £24,489 that has been transferred into CTD Ltd’s bank account from another charity, Coalisland Residents & Community Forum. This will be spent on matter relating to the objectives of that charity and will be released to the income and expenditure account as it is spent.

Unrestricted Restricted Total Funds
Funds Funds
£ £
Fund balances at 31 March 2024 as represented by:
Plant, Property & Equipment - - -
Current Assets 1,050,052 19,841 1,069,893
Current Liabilities (32,694) - (32,694)
1,017,358 19,841 1,037,199

14. Unrestricted Funds

Ati April Incoming Outgoing Capital At 31
2024 Resources Resources Purchases March
2025
£ £ £ £ £
Total Free Reserves 947,706 697,751 628,150 -_1,017,307

As per Trustees Report, unrestricted funds/free reserves are used for the ongoing funding of CTS Ltd.

15. Contingent Liabilities

Grants received could be repayable in certain circumstances as set out in the letters of offer.

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CTS Ltd

Notes to the Statement of Financial Statements for the Year Ended 31 March 2025 (Continued)

16. Related Party Transactions

Richard Thornton is the chief executive of CTS Ltd & CDDA. During the year the compensation paid to key management personnel amounted to £32,256 (2024: £37,307). Richard Thornton also invoiced CTS Ltd during the financial year for reimbursement of expenses of £1,239 of which was paid in full leaving a closing balance of ENil.

The trustees were not paid or reimbursed any expenses during the year.

17. Controlling Interest

The Trustees (Committee of Management) are considered to be the charity's ultimate controlling party.

18. Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorizing these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

19. Company Limited by Guarantee

52 Shares are in issue to the initial subscribers when the company was formed.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

@Co

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