Company reglstratlon number: N1032292 Charity Commission Nl number: 101034 HMRC Charfty Reglstration No: XR20056 Electrical Tralnlng (N.1.) Limited Company limited by guarantee Unaudltod Ilnanclal statemonts 31 August 2023 ADIM)JDM 3010312024 COMPANIES HOUSE
Electrlcal Tralnlng (N.1.) Llmlted Company limited by guaranteè Contents Page Reference and administrative details Trustees report Independent 8xamlners report Statement of financlal activities 10 Balance sheel Notes to the financlal slatements 13-20
Electrlcal Training IN.1.) Limited Company limited by guarantee Reference and admlnlstratlvo details Trustees Mr Lewis Darragh Mr Michael Hilland Mr Peter Williamson Mr Michael Dowds Mr Rodney White Mr Colin Cherry Mr William Connolly (Appointed 31'August 2023) {Resigned 30 September 2022) Company number N1032292 CCNI number 101034 Reglslarad offlce Units 57-59 8allymena Buslness Centre 62 Fenaghy Road Ballymena Co. Antrim BT42 1 FL Ind•pondent examlner Potter Flnnegan Llmited Unit 25 The Courtyard Business Park 190 Galgorm Road Ballymena Co. Antrim BT42 1 HL Bankers Ulster Bank Limited 91- 93 University Road Belfast BT71NG Solicitors McKer4ill Neilly 1 Broadway Avenue 8allymena BT43 7A4 Page 3
Electrical Trainlng IN.1.) Llmlted Company limlted by guarantee Trustees Report Year ended 31 August 2023 The trustees pr8sent their report and the unaudited financial statements of the company for the.year ended 31 August 2023. Electrical Training {N.l.) Limited is a charltable company limited by guarantee, incorporated in Northern Ireland, and was set up on 22nd April 1997. The company registration number is N1032292 and its charity number is NIC101034. Charitable registration was granted by the Charity Commission of Northern Ireland on 24th November 2014. The registered office is 62 Fenaghy Road, Galgorm, Ballymena, Co Antrim, BT42 1FL. The charitable company is governed by its memorandum and articles of association supported by a set of standing orders. In the event of the charitable company being wound up members are required lo contribute an amount not exceeding a £1. Objectives and Activitios Charltable obJecllve8 The charity's principal object as set out In Its Memorandum and Article5 of Association includes the following goals.. (a) To promote and advance for the public benefit the education and training of persons employed or intending lo be èmployed in the Northern Ireland @leclrical inslallalion industry. (b) To promote useful research Into any matters relatlng to the trainlng for employment in the Northern Ireland electrical inslallalion industry and other related industrles and to publish and dlsseminate any useful results of such research for the public benefit. The organisation's core business activity includes the provision of cuslomised and accredited Iraining. AM2 Skills asse88ment, and the management of the Sparksafe Electrical Licence to Practise system. The charlty seeks to improve the productlvlty, safety, and performance of the electrical contracting industry, and to increase the employability of existlng and new entrants within the sector. The charity dedicates it time and resources to supporting individuals, employers and professionals working within the industry to improve their knowledge. enhance their skills and prove their competence. Publlc 8eneflt The trustees confirm that they have had due regard for the guidance produced on public benefit by the Charity Commission for Northern Ireland. The organisation ensures income received from its charitable activities is used effectively to support the development and quality improvement activlties for the industry. Public benefit activities include but are not limited to - Dlstrlbution of technical updates. a5 well a5 the development of new standards and qualifications vla ezines. blogs and written correspondence to the industry and its clients. Participation in forums and engagement with industry stakeholders to develop resources and partnerships that ar8 of benefit to eleGtriGal installation employers and the wider BSE sector. Campaigning for the improvement of quallty and standards withln the industry. emphasislng the role of th& qualified electriclan. Promoting the LtP system lo clients and contractors with the aim of reducing the safety. quality, and value for money risks associated with the use of unqualified, underqualified, and semi-skilled electrical workers on construction and maintenance projects. Encouraging contractors and workers to remain up to date wlth national occupalional standards to improve productivity. safety, and quality outcomes. Promoting the apprenticeship and training needs of the electrlcal contacting industry to the school leavers and others within Northem Ireland. Engaging with electrical instsllation employers regarding their current employment, training. and recruilment needs, incentivising the recruitm8nt of apprentices. Supporting initiatives which positively promote careers within the industry. as well as best practice, and the Importance of competency and electrical safety withln the industry. Organising industry awareness events, providing access to new and innovative resources, as well as providing discounts and incentives to improve industry productivity and employability Outcomes. Page 4
Electrffical Tralnlng (N.1.) Limlted Company limited by guarantee Trustees Report Year ondod 31 August 2023 Achlavement and Performanc• The charity. with the support of the Board of Employers. is committed to improving quality and ralslng standards within the Nl electrical contracting industry. Part of ETT'S mission Is to share the latest thinking and best practice to those within the industry, as well as promote continuous professlonal development. ETT'S Slay Connected Nl industry event held on 10th November 2022 presented a unique opportunity for over 100 individuals, businesses, and industry representatives to get together in person with top Nl and UK industry experts. business advisors and other specialists to discuss the challenges affecting the industry. Feedback from atlendees, speakers and exhibitors was exc8llent, with plans UndeaY for Stay Connected 2023. February 2023 saw the return of in-house training and the launch of a range of accredited Level 3 renewables courses. The charity also successfully delivered a number of fully funded and part funded industry support services in the period. These include a part funded 18th Edition Amendment 2 Workshop. a free Luceco EV Charging Regulations Workshop and a free AICO Expert Installer Workshop. Further support Initiatives are planned for 2024 including employer network breakfast mornings, fully funded accredited Firsl Aid Mental Health trainlng. as well as a range of new courses and workshops including l & T, Surge Protection and Fire Alarms. 8uilding effective relatlonships wlth contractors, workers and other Induslry stakeholders remains a priority. Throughout the period, the organisation has continued lo engage with the industry through planned employer support visits. The purpose of each visit is to hear first-hand from employers on apprenticeshlp recrultment plans, skills issues, and training needs. The feedback received from these visits has been used by ETT lo help improve training programmes as well as develop industry inilialives and support services including the free apprentice aplilude testing service. This industry specific aptitude test was developed to help employers with their 2023 apprentice recruitment. The lesl aims lo provide measurable. objective data that should give a belter all.round view of a potential apprentlce's sultability. while reducing the work for the employer. There contlnues to be demand for 18th editlon tralnlng and the EWA programme drlven by the Sparksafe LtP contract conditions. This Is a valuable step towards Improvlng Ihe performance, productivity, and perceptlgn of the local electrical induslry. Sparksafe seeks to encourage those wilhin the industry to remain up to dale with industry developments and technical standards to help improve productivity. quality, safety, and value for money outcomes. A key objective of the initialive is lo improve quality and raise standards through the achievement of accredited electrical qualifications, highlighting the role of the qualified electrician while promoting safety and compelancy. The charity continues to promote the system and ils benefits to new and existing clients. Ensuring system users to have access to useful resources, advice. and guidance regarding the Sparksafe requirements is a priority. There has been good engagement with clients and main contractors. online training and system demonstrations prove an effective way.of highlighting the importance and benefits of specifying LtP in contract conditions. Sparksafe delivered a number of online main contractor trainino sessions in 2023 with the aim of helping main contractors become familiar wlth the onllne syslem. the reporting tools, and capabilities. while learning how to ensure compliance with LIP contract conditions. Similar training sessions were held throughout the period for electrical contractors. Sparksafe became a member of the Electrical Safely Roundtable (ESR) in November 2022. The ESR is a leading industy forum, bringing together exp8rts in their field with the common goal of improving electrical safety in the Home and Workplac8. The charity was privileged to attend the House of Commons on 16th November for the 10th anniversary of the ESR. Stakeholders from across the industry spoke about the progress and challenges faced in relation to enhancing electrical safety stsndards across the UK. Pago 5
Electrlcal Training (N.1.) Limited Company limited by guarantee Trustees Roport Year ended 31 August 2023 In July 2023, Sparksafe partnered with Super Rod in the 'Save our Sparks. Safe Isolation campaign. Electrical workers wilhin the Nl electrical installation industry were asked lo complete a short suNey designed to gain feedback about safe isolation practices and lo get more electrical workers thinking about their health and safely at work. Sparksafe has made a commitment to raise awareness of the 'Save Our Sparks, campaign and commits to engage in regular. effective communication to ensure safe Isolation remains fronl of mind with all system users including clients, main contractors, electrical contractors, and electrical workers. The organisation continues to be deemed low risk with awarding bodies, providing assurance that ETT & Sparksafe are operated in line with external accreditations and standards. Positive EQA & ISO feedback received following 4 extemal audlls during the year. Financlal Revlew The income for this financial year has Increased to £466.249 from £397.991 in 2022. Expenditure has also Increased to £570,777 from £535.910 in the previous year. The Trustees are committed to securing the future of the organisation through effective financial management. This includes closely monitoring all expenditure and reducing expenses where possible and raising income through a diverse rang8 of accredited courses. skills programmes and Industry support initiatives. The trustees will continue to provid8 and build on the successful support initiatives described earlier in this report which will enable Electrical Training (Nl) Limited to access new sources of incom8. Detailed financial plans and proJeclions have been put in place to help reduce the net expenditure in Ihe short term with the expectation of a return to a net income in the medium to long lerm. Re8erve• pollcy The Board of Trustees have established a policy whereby the funds held by the charity should not be less than six months of resources expended. The trustees conslder the amount in reserves as appropriate. Plans for Future Periods The organisalion will continue lo bulld a network of associations with other responsible UK and ROI Industry stakehold8rs with the aim of promoting competency, via planned continuous profession81 development, Level 3 apprenticeship recruitment and structured workforc8 development plans. Efforts to build on the Sparksafe LIP achievement by progressively adding further projects features as a recurring objective. Actions lo explore opportunities in other parts ofthe UK and in Ihe ROI continue with a view to extending use of the system. Objecllves Promote accredited Level 3 EV, EESS and, Solar PV courses to individuals and employers helping the Nl sector meet the Govemments Net Zero objectives and targets. Ensure effective communication with the industry regarding Cllmale Change Act targels and the important role of qualified electricians in the journey to NET Zero Raise awareness of the 'Save Our Sparks, Safe Isolation campalgn helplng lo improve safety and protecl lives. Increase the range of technical and health & safely training services to eledrical contracting business and the wider BSE sector ensuring local needs are met. Build effective relationships with the college network regarding employer recruitment, training and apprenticeships needs. Continue to develop and Improve the organisations AM2 Assessment capabilities including AM2S & AM2E. Establish and develop further collaborative relatlonships with other UK and ROI Induslry Stakeholders aimed at advancing the uptake of Licence to Practise. Page 6
Electrical Training (N.1.) Limited Company limited by guarantee Trustee report Year ondod 31 August 2023 Slructure. Governance and Management The trustees act both as trustees and directors and have overall responsibility for matters relating to the company. The day-lo-day operational activity of the organisation is overseen by the Chief Executive, who reports to the appointed Board Chaimian and Trustees. The Board determines remuneration for key management personnel from market rates of slmilar organisations. Trustees are appointed by referral or a declared interest. Trustees are unpaid and provide their service voluntarily. Each trustee is required to be actively engaged in the strategic decision-making processes within Electrical Training (N.1. l Limited. Board members are informed of progress about the organisation's activities through scheduled meetlngs and by electronic updales end reports, Related partles Many employers and wider industry stakeholders consider ETT a trusted advisor, seeking advice. guidance and support regarding technlcal skills training and apprentice recruitment needs. The charity has developed extenslve, good quality links with employers and other external bodles. These links are used very effectlvely to help develop products and s8rvlces that are closely aligned to Industrles and employers, needs. During the year. existing relationships with the Construction Industry Training Board, NET, NAPIT and the Northern Ireland Branch of the Electrical Contractors Association have been maintained. The organisation continues to develop new relationships with other existing and emerging stakeholder organisation based in GB and ROI based on collaboration around electrical Licence to Practise, as well as local, regional, and national industry training and assessment objectives. Rl8k management The charity perfomis an annual rlsk revlew, and appropriate systems have been eslablished to miligale identified risks. Renewal of the new ISO 9001.2018 Quality Assurance Standard has been achieved in June 2023. The scope of the award covers the delivery of industry training courses, the Achievement Measuremenl 2 Test, and the Sparksafe Licence to Practise System. Durlng the period. the organisalion also renqwed its charltable status with the Charity Commission. The trustees have assessed the significant risks to which the charity Is exposed and are salisfied that systems are In place to mitigate exposure to substsntial risks. Flnanclal Instruments The charity's principal financial instruments comprise of investments, bank balances. trade debtors and trade creditors. The purpose of these Instruments Is to finance the charity's operations. Small Company Provlsions This report has been provided in accordanc8 With the provisions applicable to companies entitled to the small company s exemption. This report was approved by the Board on 25 March 2024 and signed on behalf of the Board by: .-b Ms Charlotte 8amber- Chief Executive Mr Lewis Darragh - Trustee Page 7
Electrlcal Tralnlng IN.1.) Llmited Company limited by guarantee Independent Examinor's Report to the Trustees of Electrlcal Training IN.1.) Limited Year ended 31 August 2023 We report on the accounts of the company for the year ended 31 August 2023, which are set out on pages 10 to 20. Respective responsibilities of trustees and examiner As the charity Iruslees (and also the directors of the company for the purposes of company law) you are responsible for the preparation ofthe accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity Is not subject to audit under company law, and Is ellgible for independent examination. it is my responsibility to,. •examlne the accounts under section 65 of the Charltles Act (Northem Ireland) 2008: follow the proCedUS lald down in the general Directlons given by the Charlty Commission for Northern Ireland under section 65{9)(b) of the Charities Act: and slate whether particular matters have com8 to our attention. Ba818 of Indepondent •xamlnorfs report We have examined your charlty accounts as required under seclion 65 ofthe Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ir81and under section 65{9){bl of the Charities Act. The examination Included a review of the accounting records kept by the charity and a comparison of the accounts pr8s8nt8d with Ihose records. It also includes consideration of any unusual items or disclosures In the accounis and seeking explanations from you as charily trustees concerning any such matters. Our role Is to State whether any malerlal matters have come to our attenllon glvlng us cause to belleve: 1. That accounting records were nol kepl in accordance wlth Section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles ofthe Charities Statement ofRecommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland 4. That there is further information needed for a proper understanding of Ihe accounts to be reached. Page 8
Electrlcal Training IN.1.} Limited Company limlted by guarantee Ind•pendont examlnars report to the 1rustèès.of El8ctrical Trainlng (N.1.) Limitod (continued) Yèar ended 31 August 2023 Independent examinerfs statement Slnce your charlty's gross Income exceed8d £250,000 your examlner must be a member of a listed body, We can confirm that we are qualified lo undertake the examination because we are a registered member of Chartered Accountants Ireland which is one of the listed bodies. We have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Joh Flnnegan Potter Finnegan Llmlted Charterod Accountants Unit 25 The Coutyard Business Park 190 Galgorm Road Ballymena Co Antrim 8T42 1HL 25 March 2024 Page 9
Electrical Tralnlng (N.1.) Llmlted Company limited by guarantee Stalgment of financial activities Year endod 31 August 2023 Unrestricted Restrlcted Total Funds Total Funds Funds Funds 2023 2022 Note Income from: Charltab18 actlvlties Investments Other Total Income 455.226 11,023 455,226 11.023 378,025 111 19,855 397.991 466,249 466.249 Expendlture on: Charitable activities Other Total Expendlture (570,777) (570,777) (535.910) (570,777) 1570,777) (535,910) Net Income l (expenditure) Transfer between funds Net movement In funds (104,528) {104,528) (137.919) (104,528) (104,528) (137,919) Reconclllatlon of funds Total funds brought for*vard Total funds carried foNard 1,082.527 977,999 1082,527 977,999 1,220,446 1,082,527 T.he income and expenditure summary as required to b8 disclosed by the Companies Act 2006 is included at note 14. The notes on pages 13 to 20 forni part of these financlal slatements. Page 10
Electrical Tralnlng (N.1.) Llmited Company limited by guarantee Balanca sheot 31 August 2023 2023 2022 Note Flxed Assets Tangible assets 11 116,574 123,190 Current assets Debtors Cash at bank and in hand 12 57.266 939 470 996.736 66,619 1025,768 1,092.387 Credltors: amounts fallin9 due withln one year 13 (135.311) (133,0501 Net current assets 861,425 959.337 Tolal assets less current Ilabllltles 977,999 1,082,527 Credltors- amounts falllng due after more than one year Net assets 977,999 1,082,527 The funds of thè charlty Unrestricted funds Restricted fund5 Total charity lunds 15 15 977,999 1,082,527 977,999 1,082.527 The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. The members have not required the company to obtain an audit of ils financial statements for the year ended 31 August 2023 in accordance wilh Section 476 of the Companies Act 2006. Th8 directors acknowledge their responsibilities for: {a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparlng financial statements which give a true and fair view of the state of affalrs of the company 88 at the end of each financial year and of its proflt or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the company. The notes on pages 13 to 20 fomi part of these financial statements. Page 11
Eloctrlcal Tralnlng (N.1.) Llmlted Company, Ilmlted by guarantee Balance sheet (conllnued) 31 August 2023 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable In the UK and Republic of Ir8land'. These financial statements were approved by the board and aulhorised for issue on 25 March 2024, and are signed on behalf of the board by: Ms Charlotte Bamber- Chief Executive Mr Lewis Darragh - Trustee Company registration nurnber,. N1032292 The notes on paoes 13 to 20 form part of these flnanclal $tatement$. Page 12
Electrical Tralnlng (N.1.) Llmlted Company limited by guarantee Notes to the Financial Statements 31 August 2023 General Information The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is Units 57-59, Ballymena Business Centre, 62 Fenaghy Road, Galgorm. 8allymena. Co Antrim, BT42 1 FL. statement ol compllanc• These financial staternents have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounling and Reporting by Charities (SORP 2015).. issued in July 2014 and the Companies Act 2006 Accountlng pollclel Basls of preparation The financial statements of this public benefit entity hav8 been prepared 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 the Republic of Ireland IFRS 102) (effective 1 January 2019) (Charilies SORP (FRS102)), the Financial Reporting Standard appllcable In the UK and Republic of Ireland (FRS 102), and th8 Companies Act 2006. Th8 financi81 statements are prepared in sterllng, whlch is the functional currency of the éntity. Monetary amounts In these financSal stat8ments are rounded to the nearest £. Golng concern ba818 These financial statements have been prepared on a going concern basis as no material uncertainties exist about the charitable company's ability lo continue in operation. Al the year end the charity has reserves of £971,999 including cash at bank and in hand of £939.470 providing sufficient reserves to preserve the future operation of the charity and ils abillty to ensure that liabilities are met as they fall due for the foreseeable future. The trustees have prepared detailed projections for future years where incomes should increase from current levels and expenses will be closely monitored to ensure that Electrical Training (Nl) Limited will return to an annual nel income in the medium to long term whilst Continuing to meet their charitable objectives. Therefore, the trustees continue to adopt tha going concern basis of accountlng In preparlng the financial statements. Incoming resources Llcense and fee Income represent the total value of services rendered during the period and are recognlsed when the charltable company has the entltl8ment to the funds, b81ng when the seNlce Is provided. Investment income and sponsorship are included in the year in which they a received or can be reliably measured by the charitable company. Tanglble fixed a•sats Tangible fixed assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses. Page 13
Electrfjcal Tralnlng (N.1.) Llmited Company limited by guarantee Notes to the Financial Statements {continued) 31 August 2023 Depreclatlon D8pr8ciation is calculat8d so as to write off th& cost or valuation of an asset. less its residual value, over the useful economic life of Ihat asset as follows: Property & property improvements Fixlures. tools. and computer equipment Motor V8hic18S 15¥. - 33Yo reducing balance and straight line 15% - 33°A reducing balance and straighl line 25'k reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of langible assets. the depreciation is revised prospectively to reflect the new estimates. Taxatlon There is no liability to taxation due to the charitable status. ExndIture All expenditure is accounted for on an accruals basis and has been classified under headlngs that aggregate all costs relaled to that calegory. Charitable expenditure comprises those costs incurred by the charity in the delivery of ils aclivities and services for ils beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support Ihem, including the costs associated with the govemance arrangements of the charity and are primarily associated with constitutional and stalutory requirements. All costs are allocated befvrfeen the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocaled directly, others are apportioned on an appropriate basis e.g. floor areas or per capita, staff costs by the time spent and other costs by their estimated usage. Irrecoverable VAT All resources expended are classified under activity headings that aggr8gate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Fund Accountlng The company has various types of funds for which11 Is responsible, and whlch requlre separate dlsclosure. These are as follows: Restrlcted funds Donations received which are designated by the donor for specific purposes. Such purposes are within the overall aim of the organisation. Unrestrlcted funds Funds which are expendable al the discretion of the company in furtherance of the objects of the charity. Flnanclal Instruments The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Cash and Cash Equivalents Cash and cash equivalents comprise cash at bank: short-term deposit accounts and cash in hand. Page 14
Electrlcal Tralnlng {N.l.) Limited Company limited by guarantee Noleg to the Flnancial Statements (contlnuod) 31 August 2023 Debtors Trade and other debtors are recognised at th8 settl8m8nt amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Credltors Creditors and provisions are recognised where the charlty has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured and estimated reliably. P•nslons Employees of the charity are entitled to join a defined contribution pension scheme. The charity contribution is restricted to the contributions disclosed in Note 7. The costs of the defined contribution scheme are included wilhin associated staff costs and allocated lo direct charitable activities and support costs and charged to unrestricted funds of the charity. The contributions to the fund are Invested separately from the company's assets. Judgements and key sources of estlmatlon uncortalnty The following judgements including those involving estimates have been made in Ihe process of applying the above accounting policies that have had the most slgnificant effecl on the amounts recognised in the financial statements and thal have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year: Depreciation method and asset useful lives The estimates and assumptlons are reviewed on an on4Joing basis consldering the current and future market conditions. Incomlng resourc•$ from charllable actlvltlo8 Unrestrlcled Funds Restrlcted Funds Total Funds 2023 Total Funds 2022 Fees received Other income 454,726 500 454,726 500 378,025 455,226 455,226 378,025 Investment Incom• and Interest rec•lvable Unrestrlcted Fund5 Restricted Funds Total Funds 2023 Total Funds 2022 Bank interest received 11,023 11,023 111 11,023 11,023 111 Page 15
Electrical Tralnlng (N.1.) Llmlted Company limited by guarantee Notes to tho Financlal Slalements (continued) 31 August 2023 Other Income Unrestricted Funds Restrlcted Funds Total Funds 2023 Total Funds 2022 Life insurance receipts 19.855 19,855 Resource8 expended Costs directly allocated to actlvltles Unr88trlctod Funds Restrlcted Funds Total 2023 Total 2022 Charltabla exp•ndltur Materials and licence fee Exams and lecturing expenses Staff costs Accountancy and audit fees Support costs 55,634 62,381 81,947 4,800 366,0,15 55,634 62,381 81,947 4,800 366.015 23,837 57,941 37,732 8,812 407,588 570,777 570,777 535,910 Unrestrlcted Funds Restrlcted Funds Total 2023 Total 2022 Support costs allocated to actlvltles Staff costs Staff training Rent Rates and water rates Insurance Llght and heat Repairs and renewals Postage and stationery Advertising Telephone Computer costs Motor expenses Travelling Consultancy fees Bank charges Sundry expenses Charitable Donation Subscriptions Depreciation Lossl(Gain) on disposal of fixed assets 163,294 8,769 33,406 11,471 12,902 6,912 4,548 6,356 5,192 6,118 61,743 2,360 6,207 2.276 6.991 1.324 100 5.627 20,185 234 163.294 8,769 33.406 11.471 12.902 6,912 4,548 6,356 5,192 6,118 61,743 2,360 6,207 2,276 6,991 1,324 100 5,627 20,185 234 184,178 4.280 34,453 11,990 12,627 8,521 5,946 9,672 3,502 7,841 54,951 6,017 1,125 1,424 6,011 1,166 5,515 45,942 2,427 366,015 366.015 407,588 Page 16
Electrical Tralnlng (N.1.) Llmlted Company limited by guarantee Notes lo th• FlnanGlal Statemonts (contlnued) 31 August 2023 Net Outgoing Resources Net Outgolng Resources is stated after charging: 2023 2022 Depreciation of fixed assets Non audit fees 20,185 4,800 45,942 8,812 Infomiatlon on directors and employaes 2023 2022 Staff costs Wages and salaries Social security cosls Pension costs 222,799 17.502 4.940 194.357 21,248 6,305 245.241 221,910 The average number of employees during the year was made up as follows: Chief Executive Admlnlstration and support The charlty tnjstees recelved no remuneration or expenses In the course of their work during the year. The emoluments of employees were as follows.. £0- £60,000 Durin9 the year payments to key management personnel totalled £48,998 (2022: £45,458). 10. Penslon schem D•flnod conlrlbutlon 8ch•m• The company operates a defined contribution pension scheme. The pension cost charge represents contributlons payable by the company to the fund and amounted to £4.940 (2022: £6,305). At the year end there was £nil (2022.. £585) due lo be paid. Page 17
Electrical Tralnlng (N.1.) Llmlted Company limited by guarantee Notes to the Flnanclal Statements (continued) 31 August 2023 11. Tangible assets Property & Property Impmvements Fixtures, tools, and computer equipment Molor vehicles Total Cost or valuatlon: Al 1 September 2022 Addltlons Disposals At 31 August 2023 192,670 349,847 13,803 3.273 360,377 42,310 584,827 13.803 3,273 595,357 192,670 42,310 Depreclatlon: At 1 September 2022 Charge for the year Elirninated on disposal At 31 August 2023 178,912 1,408 261,605 13,479 21,120 6,298 461,637 20.185 180,320 272,045 26,418 478,783 Net book value: At 31 August 2023 At 31 August 2022 12,350 13,758 88,332 88,242 15,892 21.190 116,574 123,190 12. Debtors 2023 2022 Debtors Prepayments and accrued income 16.913 40,353 57,266 24,705 41,914 86,619 13. Creditors: amounts falllng due wlthin one year 2023 2022 Accruals for grants payabla Trade creditors Accruals and deferred income Taxation and social security 6,000 13,133 108,289 5,628 133,050 17,677 112,033 5,601 135,311 Included in accruals and deferred income is deferred incorne totalling £100.954 (2022: £96.266). Thls Includgs £67,890 (2022: £29.985) of deferred income in relation to courses whlch are paid in advance. It also includes £33.064(2022'. £66,281) of deferred income In relation to licences which are paid in advance for a period of 1 year. Pago 18
Electrlcal Tralnlng (N.1.) Llmited Company limited by guarantee Not•s to th• Flnanclal Statements (continu•d) 31 August 2023 14. Income and Expendlture Summary 2023 2022 Gross Incom• 466,249 397,991 Resources Expenditur• Charitable activities (570,777) 1570,777) {535,910) {535,910) (D•flclt) for th• year 104,528) (137,919) The above reflects the Income and Expenditure account as required by the Companles Act 2006 85 opposed to that required under the Statement of Recommended Practlce as detailed on page 10. Total income comprises £466.249 (2022.. £397,991) for unrestricted funds and £Nil (2022: £NII) for restrlcted funds. A detailed analysis of income is provlded in the Slalemenl of Financial Activities and notes 44. Detailed analysis of the expendilure is provided in the Statement of Financial Activities and note 7. The Income and Expenditure Summary is derived from the Statement of Financial Activities on page 10 which logether with the notes to the accounts on pages 13- 20 provides full information on the movements durlng the year on all funds of the charlty. 15. Summary of Funds Reconciliation Opening balance Income Expenditure Transfers Closing balance Unrostricted funds Gen8ral 1.082,527 1,082,527 466.249 466,249 570.777 (570,777) 977,999 977,999 Restricted funds Restricted funds 1.082,527 466,249 (570,777) 977.999 16. Capftal Commltments The company has no capital commitments at the year end {2022: . £Nil). Page 19
Electrical Trainlng (N.1.) Lirnlted Company limlted by guarantee Notes to the Flnancial Statements (contlnued) 31 August 2023 17. Transaction8 wlth Dlrectors and Related Partles No director emoluments were paid during ihe year (2022- £Nil>. There were no transactions during the year In which any director or related party had an interest requiring disclosure. 18. Legal Status of Charlty The Charity is a private company limited by guarantee. not having share capital. incorporated in Northem Ireland. It is registered with the Charity Commission for Northern Ireland and Is accepted by HMRC as having tax-ex8mpt status. Page 20