B.C.W. TRAINING LIMITED ids. hartered accountants STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2023 2023 Notes 2022 Income Administrative expenses Other operating income 282,883 (304,207) 2.692 280.068 (266,427) 2.693 Operating surplus (18.632) 16,334 Interest re1vable and similar income Interest payable and similar expenses 13 (1,681) Surplusl{d8fl¢it) before tax {18,630) 14.666 Taxation Surplusl(deficlt) for the financlal year (18,630) 14,666
B.C.W. TRAINING LIMITED ids. chartered accountants BALANCE SHEET ASAT31 MARCH 2023 2023 Notes 2022 Flxed assets Tangible assets 7,217 10,212 Current ass8ts Stocks Debtors Cash at bank and in hand 1,250 20.529 5,399 1,250 20.200 27.798 Credito. amounts falllng due wlthin one year 27.178 49,248 (6.459) {12,894) Net cUrnt assets 20,719 36,354 Total assets less current liablllties 27,936 46,566 Capltal and reserves Called up share capital Other reserves Income and expenditure account 23 10,500 17,413 23 10,500 36.043 Total equity 27,936 46,566 The financial statements were approved by management and authorised for issue on 8 November 2023 are signed on its behalf by." J Hlll (Secretary) Black (Chalrp8rson) R McNelll (Commlttee Member) Soclety Reglstratlon No. IP000249
B.C.W. TRAINING LIMITED ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policles Soclety Informatlon B.C.W. Training Limited is a society domiciled and incorporated in Northern Ireland. The registered office is Unit 18 Moyle Enterprise Park, BALLYCASTLE, Co Antrim, BT54 6EZ. 1.1 Accounting convention These financial statements have been prepared in accordance with FRS 102 °The Financial Reporting standard applicable in the UK and Republic of Ireland" ("FRS 102°) and the requirements of the Co-operative and Community Benefit Societies Act (Northern Ireland) 2014. The financial statements are prepared in sterling, which is the functional currency of the society. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Turnover Income is recognised to the extent that the society obtains the right to consideration in exchange for its services. Income is measured at the fair value of the consideration received or receivable. 1.3 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognlsed so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Land and buildings Freehold Fixtures, fittings & equipment Computer equipment straight line over 20 years 250A reducing balan 12.50/0 reducing balance 1.4 Impalrment of fixed assets At each reporting period end date, the society reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Vvhere 5t is not possible to estimate the recoverable amount of an individual asset, the society estimates the recoverable amount of the cash-generating unit to which the asset belongs. 1.5 Stocks stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. 1.6 Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabiliti¢!s.
.C.W. TRAINING LIMITED ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcies {Continued) 1.7 Financial Instruments The society has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the society's statement of financial position when the society becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounls presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basi5 or to realise the asset and settlè the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement Gonstitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classrficatlon of financial Ilabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the society after deducting all of its liabilities. Basic financial Ilabilitles Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a markèt rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequentiy carried at amortised cost, using the effective interest rate method. Trade creditor5 are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised Initially at transaction price and subsequently measured at amortised cost using the effective interest method. 1.8 Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction Gosts. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. 1.9 Employee benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.10 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
B.C.W. TRAINING LIMITED ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting polici8S (Continued) 1.11 Government grants Government grants are recognised at the fair value of the asset re}Ved or receivable when there is reasonable assuran that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify perfomiance conditions it is recognised in Income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. Tangible fixed assets Land and Plant and buildings machinery etc Total Cost At 1 April 2022 Additions 59,647 129.054 400 188.701 400 At 31 Marth 2023 59,647 129,454 189,101 Depreclation and Impairment At 1 April 2022 Depreciation charged in the year 59,647 118,841 3.395 178,489 3,395 At 31 March 2023 59,647 122,236 181,884 Carrylng amount At 31 March 2023 7,218 7,217 At 31 March 2022 10,213 10,212 Debtors Amounts falling due within one year. 2023 2022 Trade debtors 20,529 20,200 Creditors: amounts falling due withln one year 2023 2022 Taxation and social security Other creditors 2,530 3,929 611 12.283 6,459 12,894 10-
B.C.W. TRAINING LIMITED ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Employees The average monthly number of persons employed by the society during the y8ar was 10 (2022- 8). 2023 Number 2022 Number Total 10 11
B.C.W. TRAINING LIMITED ids. chartered accountants ADDITIONAL INFORMATION The additional information has been prepared from the accounting records of the society. While it does not fomi part of the statutory financial statements, it should be read in Conjundion with them and the auditorfs report thereon.
B.C.W. TRAINING LIMITED ids. chartered accountants DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Income Training for Success Other income 261.449 21.434 267,330 12.738 282,883 280,068 Other operating income Government grants receivable and released 2.692 2.693 Administrative expenses Direct wages Training for sucSs costs Trainee expenses Training fees Staff pension costs defined contribub'on Rent payable Power, light and heat Propety repairs and maintenance Premises insurance Computer running costs Audit fees Bank charges and interest Printing and stationery Advertising Telecommunications Sundry expenses Depreciation 165,704 6.408 48,823 36.648 2.389 12,246 7,641 1,510 2,488 1,836 3.000 860 5,030 1,175 863 4,192 3,394 131.181 5,217 46.885 33,861 1,921 12.149 5.733 4,988 944 2.481 2,760 189 6.187 1,250 1,187 6.038 3,456 (304,207) (266,427) Operatlng surplusl(deficlt) (18,632) 16,334 Investment revenues Bank interest received 13 Interest payable and similar expenses Bank interest on loans and overdrafts 13 (1.681) Surplusl(deficit) for the financial year (18.630) 14.666 12-