TRANSPORT TRAINING BOARD FOR NORTHERN IRELAND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The tnjstees present their annual report and financlal statements for the year anded 31 December 2023. The flnancial Statements have been prepared in accordance with the accounting policies set out in note 2 to the finanaa statements and comply wlth the charitys Memorandum and Articles of Association, the Companles Act 2006 and °Accounting and Reporting by Charits'es.. Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016) Objectlves and actlvlt168 The Transport Tralnlng Board for Northern Ireland's (rr8) purpose is to promote and advance the educatlon and training of persons employed or seeking employment in the aut¢motlve, transportatlon and loglstlcs Industrtes. Durlng 2023 rr8 and its wholly owned 8ubsldlary c¢mpany and social enterprlse, Transport Tralning Servlces (Nl) Ltd continued to provide a diverse range of sklll development at its Nutts Corner based training centre. The tralnlng centre, which was officially opened In 2014, has the following facllitie8 available for use by tralnee8'. Three d8dlcated well-resourced Light and Heavy Vehlde work8hop5 are UBed In the delivery autornotive industry training. Seven temperature-controlled training rooms which are modern Industry standard professlonal leamlng enwronments, equlpped th high standard teaching & leamlng resources- E-Learning facilitles The deslgn of the building en8ureB the new facilities are 8cce8sible to people wlth a range of disabllltie8 and meets all the current disability legisSatlon', its location is In a central location for access for tralnees from acr06s Northern Ireland. The Board owns ihe land of the Nutt8 Comer Buslness Park from vthlch ground rents provide income. Grant making pollcy Grant funding dld not present Itself during the year. Achlovom8nts and performance During the year of 2023 rrB exceeded all expectatlon8 by inducting 127 apprentlces into the training centre. A great achlevement, bringing th• total number of young people being tralned in the c8ntre to an all tlme high of 300 and offering us the opportunity to expand our cuffent team of trainers. This intake firmly establishes rrB as the market leader for Transport Apprenticeships in Nl wlth a market share of 30%. This year we were proud to be selected as the officially delivery partner for the prestigious Toyota Acadamy In Nl, to accompany our already established academies of Ford, Kia and the Stellantis Group, Our perft)rfflance In the year secured an exiension of the exists'ng Dfe Delivery Contract and was further recognlzed by the successful attainment of the Education, Training Inspectorate Quality Audit. All Business Park operations performed as normal with no defaults or closures being experienced. Towards the end of the year an Increased level of Interest was shown in available sites, hopefully to progress further into 2024.
TRANSPORT TRAINING BOARD FOR NORTHERN IRELAND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial revlew During the year there was incorne of £1.497,135 (2022 £1,177,565). The key sources of income for Tran8POrt Training Board, is received income for apprenticeship training from the Department of Economy's Apprentlceship Nl program and sales of other training services. This has 8cene its greatest growth viith record apprentices attending the centre. The year also saw an injectlon of income from backdated rent reviews. The maln assets of the Charity continued to b8 the Training Centre at NLrtts Comer, the land of the Buslness Park and Transport Training Services INI) Ltd, the wholly-owned subsidiary company and social enterprise. General expenditure for the year was £1,226,700 (2022 £1,067,855). Th15 included the costs of dellvering training 8eNices, management of the training centre and business park. At the year-end Transport Training Board had £2,182,400 of unrestricted funds of which £1,467,936 is represented by flxed assets partlcularfy the training centr8 and buslness park slte. The mmaining funds will continue to be held a8 current asset8 whlch the Directors vlew as essential level of working capital for the next year and has retained funds which will bo requSred in 2024 to ensure grothrth and development of training provislon in the year ah8ad. Reserves pollcy The truste98 have an agreed reserve policy to hold a value equivalent to slx months salary cost for the organisation. Thls reserve can be used to cover costs including proposed expenditure on programmes, redundancy payments and capital refurbishment or new build. All spends should dernonstrate a reimbursement plan to reBtore the reserve level. Rlsk lactors The trustees have assessed the malor risks to whlch the charlty is exp088d including: Non payment of ground rents by tenant organisations Trading losses by the subsidiary organisation Failure to meet requirements of Oepartment of Economy and other key tralnlng contracts These risks will be monltored by the Board throughout the year by revlewing monthly management accounts and through discussions Wbth the staff of the subsidiary. Plans forfvture perlods As we prepare for an unrestricted year of trading the Dlfectors antlclpate lurther growth in the type and scale of the provision of training at its modern training centre. It anticipates further provision of funding through grants to enable new developments in Iransport training across Northem IrelarKI and a consolidatlon of activity which will allow g stronger, simpler and more sustainable group structure. To accommodate further planned increases In apprentlces a refurt4shmenVextenslon plan has been developed to cater for this increased capacity. Building work on this commences during the summer of 2024. Structure, governance and management The Transport Training Board for Northern tland Is a company limited by guarantee with no share capital. Its operation5 a defined by a Memorandum and Artlcles of Association. A Board of Directors meets throughout the year to govem the operations of the charity. All Directors are members of Ihe company. No extemal body or individual has the power to appoint new charity Directors. Through their governance of the charty, the Directors have had regard to the Charlty Cornmisslon's guidance on public benefit. The trustees, who are also the directors for the purpose of company law, and who seprfed during the year and up to the date of signature of the financial statements were: Mrs Pamela Dennison Mr Rodney Ferguson
TRANSPORT TRAINING BOARD FOR NORTHERN IRELAND TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ms Catherine Boyd Mr vllIaM Dougan Mr William Gribben Mr Paul Harris Dr Sharon Loane Mr Seamus Scallon Mr Stephen Vleekes Mr Gordon Vthite None of the trustees has any beneficial interest in the charity. The wholly owned Subsidiary company and social enterprlse Transport Training SeNices INI) Ltd has 8 separate Board whose Chalrman attends Transport Training Board meeting8 to provide regular reportlng and review of performance. Its CEO also acts as Company Secretary for both companie8. Previously the Board commenced a process of review on Its structure and agreed its intention to transfer, assets and the malority of activities from its subsidiary to the parent company ThB. This transfar was completed on 31 st December 2021. The trustees recrult and select new trustees 85 set out In the governing document. The board recrults new trustees with regards to skllls gaps and the potential of new members to make a real contrfbution to the charty's overall govemance. Organlsatlonal Structure The Board will deal with all major deciglons facing the charity as they arlse and plan the overall strategy for the charity. The Company S8cretary as acting CEO BUPPOrted by the SMT deals with day-today matters. Inductlon and tralnlng of trustees We predlcate trustees appointments on our organisatlonal v8Sue8 and make new member8 aware of their legal responslbilities under charlty and company law. A new member Induction pack outlln88 our articles of association, board structure, organisation81 structuré, decision maklng processes and our overvlaw of finances. Our fomial Induction provides new board members with the information and training they need to take up thelr appointm8nt as effects'vely 88 PQS8ible. Remuneratlon pollcy Trustees do not receive remuneratlon, expenses are pald for the costs associated wlth fulfilllng thelr roles and are dlsd05ed in the notes to the accounts. The board based the Senior staffs pay on an intemal salary scale as a guide to approprlate remuneration for all staff pay. Thi5 wlll be benchmarked at regular intervals. Pay levels are currently subject to annual increments or cost of living expenses. Relatlonshlp wlth ralated partles Relationships with related parties are monitored by the Board who are required to disclose any personal interests that may have an effect on the charity as they arise. The prlncipal related party Is the charity's subsldiary, details of this are disclosed in the notes to the aGcounts. Audltor In accordance with the Gompany's articles, a resolution proposing that Moore (N.I.) LLP be reappointed as auditor ofthe company will be put at a General Meeting. Dlsclosure of Information to auditor Each of the trustees has confirmed that there is no informatlon of whith they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confimied that they have taken appropriate steps to identify such relevant information and to establlsh that the audltor is aware of such information.
TRANSPORT TRAINING BOARD FOR NORTHERN IRELAND TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, report was approved by the Board of Trustees. Mr Rodnoy Ferguson Trustee Mr Wllliam ¢7r Trustee Dated.. ..IC!-. .9-. 14 Dated.. Iq.-..%.-14