Electrfcal Training (N.1.) Limited
Company Ilm5ted by guarantee
Statement of flnancial activities
Year ended 31 August 2024
Unrestricted Restricted Total Funds Total Funds
Funds
Funds
2024
2023
Note
Income from:
Charitable activities
Investments
538.082
8,052
538,082
8,052
455,226
11,023
Total Income
546,134
546,134
466,249
Expendlture on..
Charitable activities
(682.296)
(682,296)
(570,7771
Total Expendlture
1682,296)
(682,296)
(570,777)
Nat Income l (expondltur81
Transfer between funds
Nat movement in fund8
(136,162)
1136,162
(104,528)
{136,162)
1136,162
{104,528)
Ro¢onciliation of fund8
Total funds brought forward
Total funds carrled forward
977.999
841,837
977,999
841,837
1082,527
977,999
The income and expenditu￿ summary as required to be disclosed by the Companies Act 2006 is included at
note 13.
The notes on pages 17 to 24 lorm part of these financial statements.
Page 13

Electrfcal Training {N,l.) Llmited
Company Ilmlted by guarantee
Balance sheet
31 August 2024
2024
2023
Note
Fixed Assets
Tangible assets
10
91,775
116,574
Current assets
Debtors
Cash at bank and in hand
11
70,876
847.954
918.830
57,266
939 470
996,736
Creditors.. amounts falling due
within one year
12
(168.768)
(135,311)
Net current assets
750,062
861,425
Totsl assets less curront
liabllltles
841,837
977,999
Creditors: amounts falling due after
more than one year
Net assets
841,837
977,999
The funds of the charity
Unrestricted funds
Restricted funds
Total charity funds
14
14
841,837
977,999
841,837
977,999
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 August 2024 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for.
(a) ensuring that the company keeps accounting records which cornply with Sections 386 and 387 of the
Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which othepNise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.
The notes on pages 17 to 24 form part of these financlal statements.
Page 14

Electrical Tralning {N.l.) Limited
Company limited by guarantee
Balance sheet {continued)
31 August 2024
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 Ireland,.
These financial statements Nvere approved by the board and authorised for issue on 28 April 2025, and are
signed on behalf of the board by-
Ms Charlotte Bamber- Chief Executive
Mr Lewis Darragh - Trustee
Company registration number: N1032292
The notes on pages 17 to 24 fom) part of these financial statements.
Page 15

Electrlcal Tralnlng (N.1.) LimSted
Company limited by guarantee
ststement of Cash Flows for the year ended
31 August 2024
Note
2024
2023
Net Incomel{Expenditure>
Adjustments to reconcile net income/(expenditure) to net
cashflows from operating activities
Depreciation of tangible fixed assets
(Profit)Iloss on disposal of tangible fixed assets
Net finance costs
(Increase)Idecrease in debtors
Increasel(decrease) in creditors
Net ca8h Inflow from operating activities
13
(136,162)
(104,528)
10
29,909
32
(8,052)
(13,610)
20,185
234
(11,023)
9,353
11
42
(94.426)
(83,518)
Investing actlvltles
Interest received
Payments to acquire tangible fixed assets
Net cash Inflow from investing actlvltles
8,052
11,023
10
2,910
(2,7801
Flnanclng actlvltle8
Interest paid
New long-term loans
Repayment of long-term loans
Net cash Inflowl(outflow) from flnanclng actlvltle$
N6t incroa881{decrease) in cash and cash equlvalent8
Cash and cash equivalents at 1 January
Cash and cash equlvalents at 31 December
(91,516)
939,470
847,954
(86,2981
1025 768
939,470
Page 16

Electrlcal Tralnlng (N.1.) Limited
Company limlted by guarantee
Statement of Cash Flows for tho year ended
31 August 2024
General Infonnation
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, Ballymena,
Co Antrim, BT42 1 FL.
Statement of complianco
These financial statements have been prepared under the historical cost convention and in accordance
with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2015),,
ssued in July 2014 and the Companies Act 2006
Accountlng policies
Basis of preparation
The financial statements of this public benefit entity have 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 (FRS 102) (effective 1 January 2019)
(Charities SORP (FRS102)). the Financial Reporting Stsndard applicable in the UK and Republic of
Ireland (FRS 102). and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary
amounts in these financial statements are rounded to the nearest £.
Golng concem bas18
These financial statements have been prepared on a going concern basis as no material uncertainties
exist about the charitable company's ability to continue in operation. At the year end the charity has
reserves of £841,837 including cash at bank and in hand of £847,954 providing sufficient reserves to
preserve the future operation of the charity and its ability to ensure that liabilities are met as they fall due
for the foreseeable future. The trustees plan to p￿pare 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 retum to an annual net income in the medium to long term whilst
ontinuing to meet their charitable objectives. Therefore, the trustees continue to adopt the going concern
basis of accounting in preparing the financial statements.
Incoming resources
License and fee income represent the total value of services rendered during the period and are
recognised when the charitable company has the entitlement to the funds, being when the service is
provided.
Investment income and sponsorshlp are included in the year in which they are received or can be reliably
measured by the charitable company.
Tanglble flxed assets
Tangible fixed assets are inikn'alty recorded at cost and are subsequently ststed at cost less any
accumulated depreciation and impairment losses.
Page 17

Electrical Trainlng (N.1.) Limlted
Company Ilmited by guarantee
Notes to the Financlal Statements (contlnued)
31 August 2024
Depreclatlon
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value.
over the useful economic life of that asset as follows:
Property & propety improvements
Fixtures, tools, and computer equipment
Motor Vehicles
15% _ 330/a ￿dUcIng balan￿ and straight line
15Yo- 330A reducing balance and straight line
250h reducing balance
If thera Is an indication that there has been a significant change in depreciation rate, useful life or
residual value of tangible assets, the deP￿latiOn is revised prospectively to reflect the new estimates.
Taxation
There is no liability to taxation due to the charitable ststus.
Expenditure
All expenditure is accounted for on an accruals basis and has been classifEd under headings that
aggregate all costs related to that category.
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, including the
costs associated with the governance arrangements of the charity and are primarily associated
with constitutional and statutory requirements.
All costs are allocated betsveen the expenditure categories of the SOFA on a basis designed to
reflect the use of the resource. Costs relating to a particular activity a￿ allocated directly,
others are apportioned on an appropriate basis e.g. floor areas or per capita, stsff costs by the
time spent and other costs by their estimated usage.
Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the
ategory. 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 which it is responsible, and which require separate
disclosure. These are as follows..
(i)
Restricted funds
Donations received which are designated by the donor for specific purposes. Such purposes
are within the overall aim of the organisation.
Unrestricted funds
Funds which are expendable at the discretion of the company in furtherance of the objects of
the charity.
Financlal 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-temi deposit accounts and cash in hand.
Pag8 18

Electrlcal Tralnlng (N.1.) Limited
Company Ilmited by guarantse
Notss to the Financial Statements (continued)
31 August 2024
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Croditors
Creditors and provisions are recognised where the charity has 8 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.
Penslons
Ernployees of the charity are entitled to join a defined contribution pension scheme. The charity
contribution is restricted to the contributions disclosed in Note 9. The costs of the defined contribution
scheme are included within associated staff costs and allocated to 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 estlmation uncertalnty
The following judgements including those involving estimates have been made in the process of
applying the above accounting policies that have had the most significant effect on the amounts
recognised in the financial statements and that 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 assumptions are reviewed on an On￿oing basis considering the current and future
market conditions.
Incoming resource8 Irorn charltable activltles
Unrestr5cted
Funds
Restrlcted
Funds
Total Funds
2024
Total Fund5
2023
Fees receÈved
Other income
538,082
538,082
454,726
500
538.082
538,082
455,226
Investment Income and Interest recelvable
Unrestrlcted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
Bank interest received
8,052
8,052
11,023
8.052
8,052
11,023
Page 19

Electrical Tralning (N.l.l Llmlted
Company Ilmited by guarantee
Notes to tho Financlal Statements (continued)
31 August 2024
Resources expended
Costs dlrectly allocated to activities
Unrestrlcted
Funds
Restricted
Funds
Total
2024
Total
2023
Charitable expenditure
Materials and licence fee
Marking fees & training
Exams and lecturing expenses
Sparksafe direct costs
Staff costs
Accountancy and audit fees
Support costs
32,139
50,557
77.508
48,759
95,476
10,080
367,777
32,139
50.557
77,508
48,759
95.476
10,080
367,777
24.494
61,349
32,172
39,912
81,947
4,800
326,103
682,296
682,296
570,777
Unrestrlcted
Funds
Restricted
Funds
Total
2024
Total
2023
Support CO8ts allocated to
activities
Staff costs
staff training
Rent
Rates and water rates
Insuran
Light 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
Loss on disposal of f￿ed
assets
180,516
635
32,883
11,898
17,354
6.344
14,057
6,861
7,055
6,594
23,612
4,263
3,588
5,250
8,522
4,531
180,516
635
32.883
11,898
17,354
6,344
14,057
6,861
7,055
6,594
23,612
4,263
3,588
5,250
8,522
4,531
163,294
8,769
33,406
11,471
12,902
6,912
4,548
6,356
5,192
6,118
21,831
2,360
6,207
2,276
6,991
1,324
100
5,627
20,185
234
3.873
29.909
32
3,873
29,909
32
367,777
367.777
326,103
Page 20

Electrical Tralnlng (N.1.) Limlted
Company limlted by guarantee
Notes to the Financlal Statements (contlnued)
31 August 2024
Net Outgolng Resources
Net Outgoing Resources is stated after charging:
2024
2023
Depreciation of fixed assets
Non-audit fees
Audit fees
29,909
2,880
7,200
20,185
4,800
Informatlon on directors and employees
2024
2023
Staff costs
Wages and salaries
Social security costs
Pension costs
250,665
20,432
4,895
222,799
17,502
4,940
275,992
245,241
The average number of employees during the year was made up as follows:
Chief Executive
Administration and 5UPPOrt
The charity trustees received no remuneration or expenses in the course of their work during the year.
The emoluments of employees were as follows:
£0- £60,000
During the year payments to key management personnel totalled £48,996 (2023.. £48,998).
Pension scheme
Deflned contrlbution scheme
The company operates a defined contribution pension scheme. The pension cost charge represents
contributions payable by the company to the fund and amounted to £4,895 (2023." £4,940). At the year
end there was £3,510 (2023: £nil) due to be paid.
Page 21

Electrical Training (N.1.) Limitsd
Company limlted by guarantee
Notes to the Flnancial Statements (continued)
31 August 2024
10.
Tangible assets
Property & Fixtures, tools,
Property
and computer
Improvements
equipment
Motor vahlcles
Total
Cost or valuatlon:
At 1 September 2023
Additions
Disposals
At 31 August 2024
192.670
360.377
5.142
540
364.979
42,310
595,357
5,142
540
599,959
192,670
42,310
Depreclation:
At 1 September 2023
Charge for the year
Eliminated on disposal
At 31 August 2024
180,320
1,188
272,045
24,748
508
296,285
26.418
3,973
478,783
29,909
508
508,184
181,608
30.391
Net book value:
At 31 August 2024
At 31 August 2023
11,162
12.350
68,694
88,332
11,919
15,892
91,775
116,574
11.
Debtors
2024
2023
Debtors
Prepayments and accrued income
35,393
16,913
70,876
57,266
12.
Credltors: amounts falling due wlthln ono year
2024
2023
Trade creditors
Accruals and deferred income
Taxation and social security
18,233
141.491
17,677
112,033
168,768
135,311
Included in accruals and deferred income is defer￿d income totalling £126,256 (2023." £100,954).
This inclijdes £86,447 (2023." £67.890) of deferred income in relation to courses which are paid in advance.
It also includes £39,809 (2023: £33,064) of deferred incorrE in relation to licences which are paid in advance
for a period of 1 year.
Page 22

Electrical Tralnlng (N.1.) Llmited
Company Ilmited by guarantee
Notes to the Financlal Statements (contlnued)
31 August 2024
13.
Income and Expenditure Summary
2024
2023
Gro88 Income
546,134
466,249
Resources Expendlture
Charitable activities
1682,296)
(682.296)
(570.777)
(570,7771
(Deflclt) for the year
(136,162)
{104,528j
The above reflects the Income and Expenditure account as required by the Companies Act 2006 as opposed
to Ihat required under the Statement of Recommended Practice as detailed on page 13.
Total income comprises £546,134 (2023.. £466,249) for un￿Stricted funds and £Nil (2023.. £Nil) for restricted
funds. A detailed analysis of income is provided in the Statement of Financial Activities and notes 4-5.
Detailed analysis of the expenditure is provided in the Ststement of Financial Activities and note 6.
The Income and Expenditure Summary is derived from the Statement of Financial Activities on page 13 which
together with the notes to the accounts on pages 17- 24 provides full information on the movements during the
year on all funds of the charity.
14,
Summary of Funds Reconciliatlon
Opening
balance
Income
Expenditure
Transfers
Closing
balance
Unrestrlctsd funds
General
977,999
977,999
546.134
546,134
682,296
(682,296)
841,837
841,837
Restricted funds
Restricted funds
977,999
546,134
(682.296)
841,837
15.
Capltal Commitments
The company has no capital commitments at the year£nd (2023: _ £Nil).
Page 23

Electrical Training IN.1.) Limited
Company limited by guarantee
Notes to the Financial Statemants (continued)
31 August 2024
16.
Transactions wlth Directors and Related Parties
No director emoluments were paid during the year (2023 - £Nil). There were no transactions during the year in
which any director or related party had an interest requiring disclosure.
17.
Legal Status of Charity
The charity is a private company limited by guarantee. not having share capital. incorporated in Northern
Irelsnd. It is registered with the Charity Commission for Northern Ireland and is aC￿pIed by HMRC as having
tax-exempt status.
Page 24