COMPANY REGISTRATION NUMBER: IP 219 CHARITY REGISTRATION NUMBER: 108364 Skilled Nl Company Limited by Guarantee Financial Statements 31 March 2024 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN
Skilled Nl Company Llmlted by Guarantee Flnanclal Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members 12 Statement of financial activities (including income and expend iture account) 18 Statement of financial position 19 Statement of cash flows 20 Notes to the financial statements 21
Skilled Nl Company Limited by Guarantee Trustees. Annual Report {Incorporatlng the Dlrector's Report) Year ended 31 March 2024 The trustees. who are also the directors for the purposes of company law. present their report and the financial statements of the charity for the year ended 31 March 2024. Managerfs Report 202312024 has been a challenging year financially due to several factors. Operational costs were reflective of this, however the investment portfolio, despite having some issues in the middle of the year. recovered and performed well. This meant that the overall financial position of the company at the end of the year was positive with a surplus of £46K. 202312024 has seen a continued period of change and growth. The organisation has continued its workforce restructuring prograrnme and has also completed a salary review and implemented a pay and reward strategy. The company continues to develop its Moving Forward Strategy, adapting and changing in order for it to compete more effectively. Succession planning, staff change. recruilmenl and development are at Ihe forefront of this strategy and the organization conlinues to go from strength to slrength with new programmes outside yet sympathetic to our core values being developed. We continue to deliver Apprentlceshlps21 and Skills for Life and Work programmes through our contracts with The Department for the Economy. W6 successfully lendered for funding from the Community Foundation under the Mental Health Fund for a Youth Support Worker from St James Place for IT equipment and from the Halifax Foundation. The organizalion continues to deliver a range of vocational skills training as well as other bespoke services and training that supports Ihe needs of individuals to enable them to move into or compete effectively in the employment market. The company has made excellent progress in recovering from havlng to access its reserves towards the end of last year as can be seen in the final accounts. Service users are starting to achieve more qualifications, thus leading to increased output related funding {ORF.) This in turn gives Trustees the confidence to Invest in programmes and resources. The end of this year also saw student numbers starting to rise. Apprenticeships numbers have risen by 250/0 and Skills for Life and Work have risen by 650/0. The Trustees have been extremely supportive and have approved a range of capital and revenue Investment throughout the financial year. Despite the ongoing challenges this report details the incredlble work and successes achieved by our hard-worklng dedicated Management and Staff team, who have worked tirelessly to ensure Ihat the company moves forward and that our sludents are availed of the best and most appropriate Iraining, support, and opportunities. I would Ilke to say a personal thank you to our Management Committee and all of those who have supported us through Ihis transitional ear. Signature Beth Ogilvie Executive Director Date:
Skilled Nl Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (contlnu8d) Year ended 31 March 2024 Reference and admlnlstratlve detalls Registered charity name Skilled Nl Charity registration number 108364 Company registration number IP 219 Principal office and registered 98-102 Donegall Street office Belfast BT12GW The trustees P Donaghy R Gilgunn A Simpson Walte G McAllister J Savage D Elliott (Appointed 27 February 2024) Company secretsry Gary McAllister Auditor Finegan Gibson Ltd Chartered accountsnts & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers Danske Bank PO Box 183 Donegall Square West Belfast BT16JS
Skilled Nl Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢onllnu•d) Year ended 31 March 2024 Structure. governance and management Skilled Nl is a Training Organization set up as an Industrial Provident Society and a registered charity and has been operating since 1975 (formally known as Belfast Central Training and before that VSB). We are located in Belfast city centre, and we support young people and adults across Northem Iland with barriers to employment and learning. Management Committeetrrustees The management committee of the charitable company Skilled Nl are its trustees for the purposes of charity law. Throughout this report they are collectively referred to as "the management committee" The management committee serving from 1st April 2023 to 31st March 2024 were as follows: Paul Donaghy Gary McAllist8r John Savage Alan Waite Denny Elliott Roisin Gilgunn Chairperson {Solicltor) Secretary (Business Owner, Community Worker) Treasurer {Relired) Commlttee Member, (Rcity) CommSttee Member, Date appointed 27 February 2024 Committee M8mb@r, (Education and Trainlng Inspectorate. Retlred) The Executive Director of Skilled Nl is Beth Ogilvle. Governance Skilled Nl is a registered charity and Industrlal Provident Society. The Rules of Skilled Nl (Memorandum and Articles of Association) sets out the organisation's internal governance structure. It is the organisation's Governing document and fully compliant with the Charities Act 2011, the Industrial and Provident SoGieties (Northem Ireland) Act 1969 and the Co-operative and Community Benefit Societies {Northern Ireland) Order 2006. Skilled N l is governed by a Management Committee made up of five voluntary members with the relevant skills and expertise to fulfil their responsibilities as Board Member5. The Committee meets quarterly and is responsible for the strategic direclion and policies of the charity. Under the requirements of the Memorandum and Articles, the members of the Management Committee are elected to serve for a perlod of one year. after which they musl be re-elected at the next Annual General Meetlng. Key designated officer5 are elected by Ihe Members of the Committee, these roles include.. A Chairperson, Vice Chairperson. Company Secretary and Treasurer. The designated officers are elected to serve for one year. after which re-81eclion for the roles normally takes place at the August monthly meeting. Day-to-day responsibility for Ihe provision of service5 rests wilh the Executive Director. The Executive Director is responsible for ensuring that the charity delivers the services specified and also ha5 responsibility for the day-to-day operational and strategic management of the organi5ation. supervision of the Senior Management Team and Vocational Educators. skills development and good working practice. Responsibilities of the Management Commlttee The Management Committee is accountable for the work of the organisation. The matter5 reserved for the Management Committee include the approval of strategy., the budget. the business plan; the Annual Report and Financial Statements. The Management Committee also retains oversight of management controls and corporate governance, along with Ihe appointment of Management Comrnittee members. the Executive Director and senior staff positions. All members of the Management Committee give their time voluntarily and receive no financial or material benefits from the charity. Any expenses claimed from the Gharity are set out in a note to the accountants.
Skilled Nl Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) (¢onllnuod) Year ended 31 March 2024 Rlsk Management The Management Committee recognises the inherent risks In worklng with disadvantaged young people and in raising funds to pay for its work. The span of these risks is wide, induding health and safety, client safeguarding. programme development and fundraising. The Committee works to mitigate the risks that it tskes and aims to deliver safe and effective opportunities for people. The Management Committee ensures the organisation manages Its risk as effectively as follows:
Skilled Nl Company Llmited by Guarantee Trustees. Annual Report (Incorporatlng the Dlr8Ctorfs Report) (condnu•d) Year ended 31 March 2024 Objectives and activities Vlslon We are dedicated to encouraging, educating, and upskilling students, creating meaningful opportunities and a brighter future. Where success is achieved. A place where businesses vmrk in partnership, where people learn collabordtively and work together towards individual goals. Strategic Objectives 1. To provide qualty occupational and employability training to school leavers and young people aged 16-24 In the Greater Belfast area and throughout Northern Ireland. 2. To develop th8 organls8tion both through the Identlfied short-term business goals and the long-term strategy and vision. 3. To provSde effectlve leadershlp and management by communlcatlng clear dlrectlon through mlsslon, vlslon and values. 4. To promote a culture of accountablllty, responslblllty, self-evaluatlon, and contlnuous Improvement to encourage and support innovation. 5. Demonstrate commltment and passlon for the organlsatlon's goals and engage staff across all levels of the organisation in strategy and plannlng. 6. Drlve perfonnance and outcomes. 7. Deliver value to stakeholders and learners by fully understanding their requirements and expectations. 8. Bring together the creativity, capability, and Innovation of our workforce through continuous professional dèvèlopmant. 9. To enhance the organlsatlon's perfomiance by provldlng learnlng strategles whlch exhlbit rlgor, Innovatlon and flexlbillty In meeting the needs of the learners, employers and the industry. 10. To Improve plans. systems and processe8 whlch wlll lead to Improved organ15ational performance and sustalnabilty. 11. To build an effectiv8 partnership between parents, leamers, employers, 8takeholders and the wlder community to fulfil the organisation's mission. 12. Provide equal access to a broad and relevant curriculum to all with a wide range of enrichment activities to widen the learners, awareness of the industry and raise their career aspirations. 13. To provide a data rich environment using relevant data and stslistical analysis to monitor perfomiance. 14. To develop and deliver digital skills across all training areas. Prlnclples and Values
Skilled Nl Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) {coneinu Year ended 31 March 2024 We believe in the potential of our young people and adults. We believe in respect, honesty, hard work, support, collaboration and communication as the foundation for all of our work. We believe that all key stakeholders should be involved in the trainlng joumey. We provide a flexible client-centred holistic approach that is carlng and compassionate. We are dedicated to including all sections of the community, offering equal access to seprfices and support. We believe in the importance of partnership and collaboratlve working to maxiMe student benefit. Skilled Nl charltablo purposes.. To advance educatlon and vocatlonal tralnlng for young people and adults throughout Northern Ireland. Th6 direcl benefits from thls purpos8 Include school leavers and young p80ple quallfied Sn skllls and knowledge that meet local and reglonal employer needs or provide the young person with the opportunity to progress onto further educatlon or tralning The intended beneficiaries of this purpose are unemployed young people in Greater Belfast and Northern Ireland, Including school leavers and those classed as NEET (Not in Employment, Educatlon or Trainlng) who requlre support to secure employment or or progress to further education. Additionally young adults already in employment who require training and upskilling to enable them to progress within the employment environment and further beneficiaries are local and regional employers with increased recruitment options. and the local communities with reduced levels of anti-social behaviour associated with high levels of unemployment. Skllled Nl Programmes and Servlces To meet these purpos@s and maximise Public Benefit we provide the followlng programmes and sarvlces from our college site at 98-102 Donegall Street, Belfast, BT12GW. Apprenticeshlps Nl Skills for Life & Work Apprentlceshlps21 Strateglc report The following sections for achievements and performanc8 and flnanclal review fomi the strateglc report of the charity.
Skilled Nl Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) (¢onllnufjd) Year ended 31 March 2024 Achlevements and performance Skills for Lrfe & Work {SfLW,) Apprenticeships21 {APPS21.) SfLW is the Department for the Economy's mainstream programme targeted at young people aged 16 to 17 (up to 24 if coming from a care background or requlrlng additional support) to provide them with the skills, confidence and support they need to secure employment. Young people undertaking SfLW at Skilled Nl join the programme at a level appropriate to their ability and are supported to progress accordingly within the programme, get a job upon completion. and ideally take up opportunities available through APPS21 to study for higher level qualifications whilst they are in employment. Ongoing work wlth schools and colleges has led to a significant increase in recruitment on the SfLW programme and the company will contlnue to invest In thi8. Apprentlceshlps21 contlnues to grow and wlth the Introductlon of all age apprenticeshlps th8r8 Is every reason to believe that these numbers wlll continua to rlse. Consequently, thls will mean that the strateglc plan for the coming year wlll incorporate the staffing needs to address these increases. Thls year the organlsatlon worked wlth on average 35 young people and 210 Apprentlces. Throughout the year the students responded well to the training and support on offer and as a result a slgnrficant number of qualifications were attained. 980/0 of completers this year progressed to posltive deslinations, Employment. Apprentlceshlps or Further EducationrainIng. Of those who left early, 92Vo left for positive destinations. Recrultment onto Apprenticeship programmes has been excellent with 166 Apprentices recruited this year. There has been significant development this year in the organi5ation's capacity lo d81iver quality provision consistently across all sector areas offered. A review of Apprenticeship delivery led to changes to the delivery model that now provldes a sound base from which to grow Apprenticeshlp provision in the incoming year.
Skilled Nl Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (conUnu•d) Year ended 31 March 2024 Financial review 2023124 has been a challenging year for Skilled Nl for a variety of reasons with incoming resources of £798,014 compared to £760,950 in 2022123. At the year end the organi5ation had reserves of £1,437,147 of which £16,251 was restricted. The organisation remains confident going forward and optimistic about future opportunities for income generation. We remain committed to making a positive difference lo social need through the provision of high-quality services. Rosarves Pollcy Skilled Nls Reserrfes Policy outlines the organisation's commitment to establishing and maintaining sufficient levels of res8rves to meet a number of planned and unplanned events. The year end account record sums of £16,251 as restrlcted and £1,420.896 as unrestricted reserrfes, £13,656 of which can only b8 reallzed by dlsposlng of langibla fixed assets. Th6 pollcy of the organlsallon Is to ensure that In the event of perlods of unforeseen dlfflculty, fundlng gaps. or of the business being would up, that It would be necessary to maintaln key staff to ensure that thls was conducted In an orderly manner and that all legal and contractual obllgatlons were met. Skilled Nl beli8V8S that 9 months, operational running costs and the provision of stsff r8dundancy costs is an appropriate target level of reserves. Unrestricted reserves, whlch are realisable without the disposal of tangible fixed assets, currently held by skilled Nl are £1,407.240 . which is higher than target level.
Skilled Nl Company Llmlted by Guarantee Trustees. Annual Report {Incorporatlng the Dlroctor's Report) (contlnu Year ended 31 March 2024 Plans for future periods Over the incoming year Skilled Nl has identlfled the following key areas for consolidation andlor further development: Review of current 5 Year Strateglc Plan Our senior team wi51 begin to review our current strategic plan throughout Autumn 2024. aiming to have a refreshed and updated plan before the end of the year. Skills tralning and employablllty and Investmont in now tralnlng optlons Contlnue recrultment onto the programmes, Skills for Llf8 and Work (SfLW) (Entry Level and L8vel 1) Apprenticeships21 Inv8Stment In new technology and upgrad8d computer su5te Invastment In addltlonal tralnlng courses to complement and support the current quallficatlons. Skllled Nl will continue to develop pathways to employment, Apprentlceshlps and Further Educatlon for young people and adults. These investments have been a dlrect response to our 5-year Strategic Plan, where the organisatlon set actions to widen vocational training options and increase Skills for Life and Work intake. Investment In Student Support Servlces The company acquired additional funding for a student support worker in ord8r to meet the demand for support services and the Increasing numbers of students presenting to us with mental health and other socio-economlc Issues. Implemented in June 2022, the service is already having a huge and positive effect on those students who require the support. The fundlng Is due to be completed in September 2024. Buslness Support The company has a need for a Buslness Growth worker to ensure that marketlng and r8crultment Is belng supported in a manner that benefits the company. This is a busine5S-Critical role that will be developed over the 202412025 year. Soclal Economy Inltlatlves Skilled Nl will continue to explore viable and sustalnable business opportunltles aligned to the company's principles and values. Capital investment to re-invest in people (core business) ongoing investment in our premises to.. enhance existing and future s8rvice provision. increase revenue potential for future re-investment for community b8nefiL Identrfy further capital investment opportunities. This will require us to continually assess and review our organisational capacity with regard to both human and physical resources and to create and build robust models of collaboratlve and partnership
Skilled Nl Company Umlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) (¢ontln Year ended 31 March 2024 working. Trustees. responslbllltles statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare flnancial statements for each year which give a true and fair view of the slate of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparlng thes8 financl81 statements, the trustees are requlred to: 8e18Ct suitab16 accountlng poliG18s and then apply them consistantly; observe the rnethods and prlnclples In the appllcable Charltles SORP; make Judgments and accounting estimates that are reasonable and prudent: state whether appllcable UK Accountlng Standard8 have been followed, subject to any materlal departures disclosed and explained in the financlal statements: prepare the financial statements on the golng concem basis unless it is inappropriale to presume that the charity wlll continue in business. The twstees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitys transactlons and dlsclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor Each of the persons who Is a trustee at the date of approval of thls report confims that: 80 far as they are aware, there Is no relevant audlt Informatlon of whSch the charlty's auditor Is unaware; and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit infomiatlon and to establlsh that the charity's audltor Is aware of that information. 10
Skilled Nl Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) {¢ontlnu8dJ Year ended 31 March 2024 The trustees, annual report and the strategic report were approved on 26 November 2024 and signed on behalf of the board of trustee5 by.. Gary McAllister Charity Secretary 11