springvale FINANCIAL ANNUAL REPORT TRUSTEES, REPORT 2023-2024
SPRINGVALE TRAINING Directors Brenda Turnbull Denise Rooney Seamus O'prey Therese McKernan Harry Connollv Donal McKinney Chairperson Director Director Director Director Secretary Audltors Jones Peters Registered Auditors Chartered Accountants 6 Church Street Banbridge BT32 4AA Bankers First Trust Bank High Street Belfast BTI 2AL Solicitors Edwards and Co 28 Hill Street Belfast BTI 2LA 261 Whiterock Road, Belfast, BT12 7FX Re8lstered Offlce Company Re8lstratlon No.. N1641494 Charity Re8lStration No: 105883 2 | Page
The Springvale trustees present their annual directors, report together with the financial statements of the charitable company for the year ending 31 March 2023 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with current statutory requirements including the Charities Act (Northern Ireland) 2008 amended by the Charities Att (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations {Northern Irelandl 2015, Companles Act 2006, the Charity's Memorandum and Articles of Associatlon, Accounting and Reporting by Charitles: Statement of Recommended Practice applicable to charitles preparing their accounts in accordance wlth the Financial Reportlng Standard appllcable in the UK and Republlc of Ireland IFRS 102}. CHAIR'S ADDRESS It is my privilege to present thls year's annual report, hi8hlighting the indispensable role our locally based apprenticeship and vocational skills training centre plays In transforming Ilves and communities. Our centre stands as a beacon of hope, offerin8 pathways to prosperity for individuals and a catalyst for positive change withln our area. By providing acce55ible, high-quality training and apprenticeship5, we are not merely equipping youn8 people with skills; we are empowerin8 them to break free from inequality and build brighter futures. At the heart of our mission is the eradication of inequality 3 nd isolation. By offering individuals the opportunity to acquire in-demand skills, we create a direct route to employment and financial stability. Our trainees Bain the conf idence and competence to secure sustainable livelihoods, enabling them to lift themselves and their families out of Lryclical inequalities, Moreover, our centre Is a cornerstone for promoting life chances. By providing a platform for personal and professional development, we inspire individuals to reach their full potential. Our apprenticeships and training programs foster a culture of ambition, resilience, and determination, equippin8 our trainees with the tools they need to succeed in life. Lookin8 ahead, we recognize the Imperative of developing skills aligned with the demands of a rapidly evolving society. Our curriculum is meticulously designed to equip individua15 Wlth the knowledge and abilities necessary to thrive in the modern workforce. By staying at the forefront of industry trends, we ensure our trainees are well-prepared to contribute meanin8fully to our community's economic growth. Beyond individual empowerment, our centre serves as a catalyst for local community development. By collaborating with local businesses and industries, we create a symbiotic relationship that benef its both trainees and employers. Our apprentices contribute to the vitality of our region's economy while gaining invaluable on-the-job experience. This mutually beneficial partnership fosters a thriving local ecosystem. Furthermore, our centre is 3 cornerstone of social capital. By providing a space for individuals from diverse backgrounds to learn and grow together, we cultivate a sense of belonging and shared purpose. Our trainees develop strong network5, fostering collaboration and cooperation within our community. This strengthened social fabric is essential for addressing complex challenges and building a more resilient society. In conclusion, our locally based apprenticeship and vocational skills training centre is more than just an educational institution,. it is a transformative force. By eradicating poverty, promoting life chances,
developing f uture-ready skills, supportin8 local community development, and f05tering social capital, we are making a profound and lastin8 impact on the lives of countless individuals and the overall well- being of our community. l am immensely proud of the work our centre has accomplished this past year and am excited about the opportunities that lie ahead. Together, we can create a brighter f uture for all. Brenda Turnbull Chair PRINCIPAL AcriviTY EstabSished in 1992, Springvale Training Ltd ISTLI has provided tralnlng and employment programmes, and programmes with an emphasis on personal and social development, to youn8 people and 3du5ts particularly throughout North and West Belfast for the past 25 years. Objectives and activitle5: Sprin8vale Trainin8 is established for the promotion for the public benefit of urban regeneratlon In Greater Belfast area and f urther afield by Isome or all of) the followln8 means.. the relief of unemployment In such ways as may be thought flt Includln8 assistance to flnd. employment. the advancement of education trainln8 or retalnin8, particularly among unemployed people and provldlng unemployed people wlth work experlence, the provision of f inancial assistance, technical assistance or buslness advice or consultancy in order to provide trainin8 and employment opportunitles for unemployed people in cases of f inancial or other charitable need through help.. in setting up their own business,, 1.3,1 1.3,2 to existing businesses, PUBLIC BENEFIT To provlde relief of unemployment in such ways as may be thought fit Including assistance to f ind employment. The direct benefits which flow from this purpose include the reduction of unemployed individuals in the Greater Belfast area and further afield. These benefits are demonstrated through the achievement of employment outcomes independently verified by external funding bodies, The purpose does not lead to harm. The beneficiaries of this purpose are people living in the Greater Belfast are3 and further af ield who are seeking employment. A private benef it to trustees may arise from our programme of ongoing training in good governance, finance etc. Through this training trustees gain skills and experience which are transferable to other settings. These benefits are incidental and necessary to ensure the benefit is provided to our beneficiaries. To provide advancement of education training or retraining particularly among unemployed people and providing unemployed people with work experience. The direct benefits which flow from this purpose include the reduction of unemployed and the provision of training to individuals in the Greater Belfast area and further af ield. These benefits are demonstrated through the achievement of employment outcomes independently verified by external funding bodies and feedback from employers and service users. The purpose does not lead to harm. 4 | Page
The beneficiarie5 of this purpose are people living in the Greater Belfast area and further afield who are seeking to advance their educational training and work experience. To provide financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help in setting up their own business or to existing businesse5. The direct benefits which flow from this purpose include the reduction of unemployed and the provision of training to individuals in the G reater Belfast area and f urther af ield. These benefits are demonstrated throu8h the achievement of employment outcomes independently verif led by external funding bodies and feedback from employer5 and service users. The purpose does not lead to harm. The beneficiaries of this Puf pose are people living in the Greater Be5fast area and further af ield who are seeking employment. The Trustees pay due regard to guidance issued by the Charity Commission in deciding what activities SPRINGVALE KEY PROGRAMMES Skills for Llfe and Work 2021 ISFWI.. This Department for the Economy programme provides vocational training to school leavers at entrv level, level one, and level two in the areas of,. plumblng, joinery, computer technology, digital media, hair and barbering, beauty, caterin8, hospitality, and childcare. Trainees also achieve improved educational outcomes with essential skills ICT, literacy, numeracy, employability skills and personal and social development. Apprenticeships Nl A Department for the Economy funded programme for people of all ages across a wide range of professional and technlcal area5. The eligible employees complete a qualif ication tailored to their job role and receive accredited industry recognised qualifications at either level two or level three, along with the opportunity to complete their essential skills In numeracy, literacy and Icr if not already exempt, Sprin8vale has been delivering apprenticeships to the wider community for over a decade. Vocational training provides our learners with a clear advantage from an early a8e as learning can be undertaken on the job as well as In the classroom. This means that as well as getting broader academic knowledge, students receive practical skills to support their workplace learnin8. Communitles in TransStlon CIT is a TEO IThe Executive Office) f unded pro8ramme working with young people across West Belfast. It is part of the Tockling Poromilitarism Criminolity t7nd Orgonised Crime Progromme. There are two sections to this pro8ramme,' the employabillty element programme workin8 Wlth 16-24-year.olds to develop ski115 and qualifications to progress them into employment. The work ready element works with young people across West Belfast aged 16 and under who complete a three-week employability programme then enter a six-month paid placement to develop their skills and gain workplace experience, The CIT programme works across West Belfast working with young people at threat of anti-social, criminal, or paramilitary activity. The f irst strand of the programme, Work Ready, works with young people aged 16 and under, delivering a three-day employability programme before placing the participants into a six-month paid Saturday job. Work Ready works with 95 young people per yea r and is delivered in the community Wlth youth clubs across the West.
The second strand of CIT is 'Employability Elements,, this strand works with 70 young people aged 16- 24 years old. providing a ten-week employability programme involving employability training and industry specific trainins. This element is delivered both in-house at Springvale and in community settings across the West. UK Shared Prosperity Fund Our UKSPF programme, Youthstart, is a twenty-week course tar8etin8 economically Snactive NEET voun8 people from Belfast's twelve most disadvantaged wards. Youthstart will work with SOO young people f rom 2023-25. The programme is delivered through four distlnct delivery phases to develop the participants, skills and prepare them for work. Phase one focuses on personal development and the reduction of personal barriers to em ployment. Phase two develops the educatSonal attalnment and skill development of young people who will complete qualificatlons in IT, numeracy, employabillty and healthy Ilfestyles. Durl ng phase three, partlcipants undertake an employment academy in their chosen field whlch will include industry specif Ic trainin8. Finally, in phase four, participants complete a four- week work placement with a local employer. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Document Springvale is a company Ilmited by 8uarantee re815tered in Northern Ireland. The company Is 8overned by a Memorandum and Articles of Assoclation. The company's objectlves are charitable Sn nature, and it has est3bllshed charitable status. The charity's activitles are mana8ed by the trustees though the Board of Trustees/Dlrectors. The sole member of the company is Upper Sprln8field Development Trust Limited, and Sprin8vale Training Llmited Is therefore a charltable subsidiary of USDT, Trustee5' Appolntment and Tralnlng The trustees recruit and select new trustees as set out in the 8overnin8 document. The Board recruit new trustees with regards to skllls, gaps and the potential of the new members to make a real contribution to the charity's overall governance. We predlcate trustees, appolntments on our organisational values and make new members aware of their legal responsibilities under charity and company law. Members, induction pack outlines our Articles of Assoclation, Board structure, organisational structure, decision making processes and our overview of finances. Our formal induction provides new board members with the information and trainlng they need to start their appointment as effectively as possible. FINANCE. PAY AND REMUNERATION Springvale Training Limited operates robust financial procedures in place which the Board regularly review and independently assess. We have clear financial management systems to ensure effective and appropriate use of spend,. administering resources cost-effectively, transparently and accountably with clear audit trails. All Board members give their time freely and no trustee received any remuneration during the year. The Board base the senior staff team's pay on the NJC salary scales as a guide to appropriate remuneration for all staff pay. Pay levels are currently subject to annual increments or cost of living expenses.
ORGANISATIONAL STRUCTURE The Board administers the charity and normally meets 11 times in the year. As part of its structure the Board operates three sub committees.. f inance, audit and risk. human resources, and remuneration. The Board appoint a chief executive to manage the charity's day to day operations. To ensure effective dally management the chief executive has delegated authority through the Board's approval for operational matters including f inance, employment and direct charitable activities.
RISK MANAGEMENT Our approach to the management of risk is informed by the need to ensure that the risks inherent in the pursuit of our objectives are understood, will be manageable if realised, and that appropriate mitigation measures are planned or in place. Responsibility for the management of specific risks is carried by named individuals a nd groups, but the highest-level risks, those that have a direct bearing on the Sprin8vale Trainin8 Limited's capacity to achieve its strate8ic objectives, are managed by the senior management team. The Springvale Trainin8 Limited's f inance and audit risk committee plays an active role in risk monitoring and have a risk management Strategy that comprises.. An annual revlew of the prlncipal risk and uncertainties that the charity takes,, The establishment of policies, systems and procedures to anticipate risks in the a nnual review; and The implementation of procedures designed to mSnimise or manage any potential impact on the charity should those Issues materialise, Reputational Risks.. The Trustees are conscious of the importance of its reputation as a well-run organisation delivering public benefit and have undertaken steps to ensure Springvale Training Limited governance and mana8ement structures are robust and Bive conf idence to all stakeholders and operate in line with our values. Covld-19: Covld 's Impact continued to dictate organlsational performance in thls flnancial year. Whlle the response from statutory funders and public donors, together with the flexibility shown by our employees, has allowed Sprin8vale Trainin8 Limited to mitigate the risks to a si8nificant degree, the Trustees continue to monitor developments caref ully. The medium-term risk remains for a potential economic downturn and the related possibillty of a reduced level of funding for current pro8rammes and pressure on the ability of tenants to make rent payments. Flnanclal Rlsks.. The or8anisatlon exposes itself to a variety of flnanclal risks. Measures to mitl8ate thls risk Include stron8 budgetary management and cost control and proactive negotiations with tenants and key stakeholders. Health and Safety Risks: The Trustees recognise the importance of safety in all of our servlces. Springvale Trainin8 Limited implements robust systems and structures to ensure all health and safety re8ulations are complled with. Legal and Regulatory Rlsks.. The charity is required to comply wlth a wider range of legal and regulatory obli8ations. Policies and procedures are in place to ensure compliance with these obligations, however, there inevitably remains a residual risk of an operational failure resulting in a breach of these obligations. Insurable Risks,. The organ isation incurs exposure to employer, public and property damage liability by virtue of the nature of its operations. While a strong emphasis is placed on health and safety and risk management practices to avoid lia bility arisin& insurance cover is maintained to mitigate the financlal impact from such events. FINANCIAL REVIEW AND RESULTS FOR THE YEAR Financial Review Incoming resources has increased from £XXXX in the year ended 31 March 2023 to £XXXXX in the year ended 31 March 2023. Resources expended on charitable activities has decreased from EXXXX to £XXXX in the year ended 31 March 2023. As a result, net incoming resources amounted to £XXXXX for the year 8 | Page
ended 31 March 2023 as against a deficit of £XXXXX in 2022. The results for the year 3re set out in Statement of Financial Activities on page 15 and in the related notes. The company has net assets of £XXXXXX on 31 March 202312021.. £XXXXXI as detailed on the Statement of Financial Position on page 16. Reserves Policy and Going Concern On 31 March 2023 free reserves amounted to XXXX of which around XXXX has been designated, to cover costs including proposed expenditure on upcoming programmes, redundancy payments and capital refurbishment. On an ongoing basis the trustees believe there are suff icient reserves to meet the normal working capital requirements of the company and to cover shortfalls in core funding for a period of at least six months. The trustees have considered management accounts for the 6 months ended 30 September 2021, future financial projections and future funding requirements and have a reasonable expectation that the charity ha5 adequate resources to continue in operational existence for the nea r future and for this reason they continue to adopt the going concern bases in preparing the f inancial statements. Further details re8arding the adoption of the going concern basis can be found in the accountin8 policies. the period. Plans for the future. The following are Springvale's immediate plans: Implement new Sprin8vale strategic plan 2023 to 2026 Submit new tenderers for programme development Submit tender for the new AppsNI programme, Secure ownership of the building,. Trustees, Responslbility Statement The trustees, who are also directors for the purposes of company law, are responsible for preparin8 the trustees, report and the f inancial statements In accordance wlth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair vlew of the state of affai rs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period, In preparing these f inancial statements, the trustees are required to: select sultable accounting policies and then apply them consistently,. observe the methods and principles in the applicable Charities SORP,. make jud8ements and accounting estimates that are reasonable and prudent,. prepare the f inancial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2(K16. They are also responsible for safeguarding the asset5 or the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities.
AUDITOR Each of the persons who is a trustee at the date of approval of this report confirms that: as far as they are aware, there Is no relevant audit informatlon of which the charity's auditor is unaware; and they have taken all steps that they oughtto have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The auditor is deemed to have been reappointed in accordance with Section 487 of the Companies Act 2006. Small Company Provision This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies, exemption. Thls report wa5 approved by the board on XXXXX and signed on its behalf by: Brenda Turnbull . Cholr 10 | Page